This bid is pretty humiliating for the current, and past, management, and directors of Flybe. It values the company at less than 1% of the levels it briefly reached just after the floatation. One can only assume that the directors are recommending such a derisory bid as the company is very, very close to complete collapse, otherwise, they'd surely hang out for something better.
Whatever happens, hope for a good result for most staff, who have had to put up with a lot of uncertainty, over many years.
Whilst a lot of people out there will regret the day that JF walked through the doors at Exeter, the current Board don't look too smart for rejecting the Stobart bid last year, and then leading the company to the precipice.