Firstly, as some are quite passionate about it on here, despite my predictions, I hope flybe succeeds.
But, I believe its going to be a 50/50 prospect at best. Rising cost of living, changes to how people work, fuel costs and regional competition, are no doubt going to make it tricky to make profits/sell tickets in the medium/long term.
I think someone said a few posts back that the loads were good. That's great but on two aircraft!! Not enough to sustain an airline. The loads should be full and tickets sold out to give an indication of success. But without the actual load figures its hard to predict and I assume they have more aircraft to come.
Anyway, time and financial updates from the company will tell.