I do feel for Loganair as it’s a good company, well run with a good brand identity but they are not going to be taking over the best ex Flybe routes.
Flybe will simply take them back and I doubt Loganair will put up much of a fight for them or any other new ones Flybe choose to fly, unless codeshares play a part. Flybe will simply undercut them and seize on their debt free advantage.
New Flybe are in a safe harbour whilst surviving airlines are out at sea facing down the coronavirus storm and suffering.
Fate is cruel as this situation is not of Loganairs making, where as Flybe got themselves in the **** over a number of years.