After flybe and Loganair parted company with their franchise agreement, flybe went head to head in core Scottish markets in a suicide mission to harm their former partner. It threw Loganair into a period of uncertaintly and losses as they fought to survive, until flybe gave up having lost a whole load of money in a frankly vindictive enterprise. I suspect Loganair (trading since 1962) are very concerned that having survived all of that and now being battered by COVID, the thought of a debt free and eager to challenge flybe_2 dropping back into markets Loganair need to repair their balance sheet would be a worry. Flybe not having to worry about any debts or money owed as they'd already walked away scot free. It's not a good look really.