Am I right in thinking they don't appear to have any of the key assets left.... aircraft? Admittedly there are probably a number of aircraft on the used market that may now come cheap. Any updates on where the previous aircraft are? Did they all find new homes?
There's the added complication of now having to go up against a stronger Loganair and to a point Eastern. I suspect Eastern will be the one to suffer in this though.
Could there be any link to Virgin again? Didn't Virgin pull out because of Flybe's finances? If the finances are in better shape they may regain interest, especially with MAN growing as a base.