The figures in the graph are utterly useless (also ignoring franchises, along with the other faults).
Flybe's accounts tell me that their underlying business might not be entirely sound, but is recoverable and certainly isn't awful. Even if the E195s are a convenient excuse and the effect of them wasn't quite as bad as they try to make out, they were still a momentously disastrous event in their history. However, many business with sound trading in present but disasters lurking in their history have failed, like Sky Europe and Fly Globespan.
We have lost passenger services from a lot of regional airports in recent years, and it's right to be fearful for them. It may not be that FlyBe itself is the direct cause of the next one having problems. However the same market factors that are causing FlyBe to have problems very well could. There are two obvious candidates for being next (or three if passenger services at CAX ever start...) :-(