Something that's been bugging me that I can't get my head around is this. Airline Investments Ltd (AIL) has made a (perfectly valid) commercial decision to allow one of its subsidiaries to enter administration, by failing to give it sufficient funds to continue operating. I haven't read their recent accounts but one assumes that Flybmi now has insufficient assets to meet obligations to creditors.
Another subsidiary of AIL, Loganair, has taken on several of Flybmi's routes. All Flybmi reservations are no longer valid and customers must re-book with Loganair. If there are insufficient assets to give full refunds to those who have already paid for reservations, this raises the prospect of the parent company profiting from allowing Flybmi to enter administration. Even if customers receive a full refund, would it not have been easier for AIL/Loganair and for customers simply to transfer their bookings? For lots of reasons it's certainly difficult to believe that Loganair didn't know this in the pipe-line.
I may be barking up the wrong tree here and I'm not alleging any illegal behaviour, but at the very least it does seem a very odd way to go about managing the process.