From the Economist website:
Flybe is in urgent need of a new strategy
Conclusion:
Flybe’s managers may be proud that the carrier is Europe’s largest regional airline. But earning money by transporting people short distances in uneconomical planes is a risky strategy in a well-connected continent. To ensure long-term survival, they should focus the carrier’s efforts on routes where geography or public subsidies give them an edge. Any of Flybe’s 78 planes that can neither be deployed on these services, nor lent to external partners, should be withdrawn from service–and quickly.