DUBXH,
Interesting post, but there's a few bits and pieces of the jigsaw you are either unaware of, or are deliberately ignoring.
In particular, are you aware the FlyJet appears to have applied for, and received slots for Dublin-Alicante and Dublin -Malaga co-inciding exactly with trhe published timetable for FlyJet Green. I can't imagine they did this on their own as it is such a diversification from their core business as to make no sense.
I think it is slightly more likely that the relationship between Fly Jet and Fly Jet GREEN was initially a lot closer than people later pretended.
At some stage, I suspect that FJG were unable to make the required financial commitment to FJ to make them pitch up in Dublin, so FJG turned to Icelandair to get up and running. However Icelandair had no slots in either Alicante or Malaga, so were doomed from the beginning.
I think this will run and run for a little while longer.