A lot of people seem to think the government will bale us out as flybe are crucial to many local economies not well served by other carriers , so fingers crossed
Until UK leaves the EU (and probably during the "Implementation period" too) it's very difficult for Government to get involved financially.
The positive news, if you can call it that, is that Administration is being talked about, rather than bankruptcy or liquidation. With Administration, the operations are likely to continue, at least for the moment.