Some additional info from Flight:
The activities of Stobart Air, which will also be contributed to Connect Airways, will continue under its own separate Irish AOC with its current franchise and leasing operations
Flybe’s network will be adjusted to improve connectivity with Virgin Atlantic’s long-haul networks at London Heathrow and Manchester. The document indicates that the route optimisation will “likely” result in a “limited reduction” in the number of aircraft in the Flybe fleet, which currently stands at 76 – a mix of Bombardier Q400s and Embraer E-Jets.
Cuts likely as Virgin shapes Flybe-Stobart combination - Flight Int