I think most of us would agree that from the point of the IPO, successive leadership and management teams made a number of decisions that adversely impacted on the ability for the business to survive. Following the acquisition by Connect, Flybe was making some significant improvements and in my opinion, had the best leadership team in over a decade but sadly, insufficient funding to effect a full turnaround of the business.
Having said that, even if Flybe had obtained the much discussed £100m Govt loan - I think it would have likely succumbed to Covid-19 anyway.