I may be wrong but I feel Flybe can trace it's current dire position to the over ambitious fleet growth some years ago when Jim French was in charge. Large numbers of E Jets and Q400s transformed the regional airline, but made it very vulnerable to changes within the economy. Perhaps had there been a slower and more organic growth the airline would have been less stretched and better placed to weather financial downturns. Yes I know, it's easy to be wise after the event!