The business model is pretty straight forward. Without the fat, the pensions and the leasing cost of those Jets, Flybe would have made a profit every year for the last twenty. By starting a lot smaller, and containing costs, they have every chance. The Aircraft, is a 78 seater with very low direct operating costs. It can operate those intermediate loads an A3219 can't and a J41 can't. The ATR's available are old, second hand and slow. Q400 Crews are straining at the leash, and stamped up and current. it's a no brainer.
Also the costs are minimal UNTIL the right time. as an airline on paper, it is paying no leasing or employee costs right now. Nor will it until they start up. Others are hemorrhaging cash daily.
Best of luck to my former colleagues.
#Flybefamily.