I missed this myself, apologies if common knowledge, but just seen that according to a report by the airline's administrators they were awarded grandathering rights back in August, a decision IAG are challenging.
They state '
The London Heathrow slots were appropriated by International Airlines Group (“IAG”) following the
Company’s insolvency. The Joint Administrators are challenging IAG’s actions in doing so. In
addition, the European Commission granted Flybe grandfathering rights for the London Heathrow
landing slots on 4 August 2020.
In light of the ongoing dispute with IAG, we are unable to comment further on the Company’s
prospects for realising value from this asset at present. However, we will provide creditors with a
further update in the next progress report, including comment on any realisations that may be
available for distribution to the Company’s unsecured creditors.'
So, even if they are successful the administrators sound like they will use any proceeds they may make to cover some of the unpaid debts.
So, it does seem unlikely any revival plan is centred around the Heathrow slots.
https://assets.ey.com/content/dam/ey...ptember-20.pdf