Just want the slots? Somehow I was led to believe that FlyBE actually was interested in making money? The IOM LGW and INV LGW routes were the two most profitable routes BAConnect had. Despite the fact that so many of the passengers were onward travel and thus contributed only a small part of their yield to the route. The courier revenue that the IOM route carries would put many a current FlyBE route to shame too. INV carries a lot of seasonal tourists, as well as many busines folk too. Simply looking at them like that is missing the point.
FlyBE's discontinued LCY route from the Island was dropped because it couldn't dent the Manx/BACX London passenger figures enough. It did hurt a bit, but was survivable at the time. BA have swapped the suitable aircraft for a dog, not bothered to advertise, promote or protect the route at all over the years, and still it makes solid money and holds the company up.
Of course, you could be right. Would be a great pity though.