I can understand the scepticism on here, but take a step back for a moment. FlyBe 1.0 failed with a fleet which had reduced to around 70 aircraft from over 80; the company operated from multiple bases and seemingly tried to be all things to all customers. That was too much to sustain, but the failure doesn't mean that everything the company did was a financial calamity. The standout for me is the vacant Manchester to Southampton route. It is unlikely to support six return flights daily with Q400's / E195's again ... but two or three daily pitched with sensible pricing really ought to be a winner. I know that folks will reply that the business market isn't what it was pre-covid and that's true, but the overland journey by train is hopelessly unreliable and eyewateringly expensive. The road journey is a slog. So this is a route which appeals to VFR traffic and those joining / leaving cruise ships, amongst others. A case can be made for Manchester to Exeter too ... not at the previous 4 x daily, but certainly at least once daily. And Southend ... those Stobart ATR72's ran up too many EU261 liabilities due to over-ambitious scheduling; underlying demand looked healthy on the Manchester route at least. Manchester to London rail services are in the news again just today for being terrible, and we all know that HS2 isn't riding to the rescue. Capacity is needed, and slots won't be allocated at LHR / LCY. Any new operator won't be looking to occupy a 70-strong fleet. Opportunities are there for a small, well-managed operation focused on corridors where the rail alternative is in long-term disarray.