It’s controlled by the consortium now. They put a Virgin executive in charge and Christine Ourmieres Widener left.
My two thoughts are: could the private equity firm which went in, and owns the largest stake, now have cold feet and trying to stall the investment by making the conditions tougher for Flybe to meet. Or, they want to let it go under, allowing them to pick the decent parts and escape paying redundancies and lease termination clauses.
If Flybe goes under, it does a lot of damage to Virgin’s claims to want to be the 2nd flag carrier and to get the slots on any new runway at LHR.