Loganair is a name - it's the people employed that make the airline and many of them have changed since 1960, if they have excellent leadership who can practice empathy with sound business acumen then it's relatively easy to make a go of it and succeed, but when you are mere puppets on a string to a higher master then you are in no different place to any other airline no matter what your heritage.... Any savvy new operator would have rich pickings of excellent staff if anything happened, and it would be easy to create Tartan airways powered by the old Loganair staff!
Running airlines is all about economics, you must operate the right aircraft on the right route for the right price and ensure you focus on the customer who is the only one that will decide your future...whilst making it unattractive to the competition.
Let's face reality... In the current C-19 situation you will be re-starting any airline from 'Zero' unless you are a freight dog in which case make hay and enjoy the uncluttered frequencies!
So if you are re-starting from zero then you may as well rethink the fleet and operating model and make it fit for purpose for its required audience which is all the Scottish people including the Highlands and Islands.