I would also add to PTH's post that the Flybe figure is not really that good for comparison.....Bergerac at 40% (I question the figure) on a Q400 will still lose far less money than MSEAGP on a F100. (The Q400 break even is about 30seats at average fare)
It would have been better to compare all regional flights to AGP. This would be a far better comparison. Somehow I very much doubt that Flybe's SOUAGP was anywhere near 40%. It would have been much higher.