Both the two above posts make sense, it's sad to see airlines and airports fail in this unknown economic environment.
Flybe's business model may change, we could se it becoming a feeder to KLM/AIr France/Virgin/Delta at their hubs at CDG/AMS/LHR/LGW/MAN etc from many airports are the country. The odd non-feeder flight may still work such as from the south England to NCL/Scotland as their only competition now is the train, and flying is so much better than a 6-8 hour trip on the train.