I think it would be down to BA. Many have commented on the LGW/LCY slots that maybe worth the cost of the sale price even without the airline. BA then has access to a top up of Flight/Cabin crew minus the recruitment/basic training etc. I cannot see them retaining to much of the network however as many of the same routes were served in the past by BA and deemed unprofitable. The engineering business however good is limited by the size of the aircraft that the hangars can accommodate but maybe a going concern in their own right.
It has been mentioned about BA holding a 15% in FlyBe but I was of the opinion that BA surrendered this years ago, as that share could have cost monies should BE have gone under? Surely the aircrafts can be returned to the lessor? As some threaders have said lets us hope they survive for the many people who gain income from the operation particularly in and around Exeter.