Flash airlines may collapse after this incident but the need will not go away and they would be replaced but something very similar with a different name and probably 80% of the previous companies staff.
I believe that Flash is already a reincarnation of the former Helipolis Airlines.
Charter passengers are often not told the operator in their pre-sales material (and may only be told obscurely at time of booking). The extent of this anonymity always seems to rise when a third-world operator is used, instead of an established Western European charter operator, which seems more than a coincidence. The loss of the Turkish-operated Birgenair 757 on a Dominican Republic to Germany flight springs to mind in this respect, as do holiday flights from the UK to Turkey etc. Often the only giveaway is the timings suggesting an aircraft operating from the destination instead of based in the UK.