Good for them they will start, it is super for them, but the general discussion and challenge is... this regional aviation flying is so hard if you are not 100% daughter of a main line carrier that will support you.
All these airlines don't get the economy of scale in todays LOCO 737/A320 world to be sustainable in the long run. And this franchise concept is smart of the franchiser but for the franchisee it is even worse than an wetlease deal.
So the 16M will drip empty, they will venture in non core buisness and they can join the que in a few years.. Aer Arann, Stobart, Cityjet, BMI, FlyBe the list is long and will get longer again if this C19 is not delt with propperly.