I must admit, despite this being incredibly sad for all of the staff involved, that this was to be expected.
I travelled on business on the LHR-NCL route twice and NCL-LHR once in the short time the route was operating. At no point, was the load factor higher than 13. Even on one flight, the crew member I spoke to said they were advised it was to hold the LHR slot. For an airline losing £5m per month and continuing to do this is completely negligent. They were around 40% load factor on BHD-NCL-BHD but the whole rotation must have been losing them £100k per week, at the very least.
in terms of my previous post about compensation, there are a number of people who has been chasing compensation payments that were exceeding 90 days. There are also other stories of those who travelled with Flybe regularly who had numerous flights cancelled and hadn’t received the refunds for these either.
in terms of a buyout, as I can see the administrators are encouraging this, no serious operator or investor will touch this operation with a barge pole.