Flybe franchise might indeed have more merit than an outright purchase.
At the mo, struggling to think of routes for Loganair if it went it alone post-BA franchise.
It used to fly cross-border routes, but the landscape in short haul has changed now, with RYR, EZY, BEE et al.
Don't think it could survive on its own if it tried to make money out of the inter-Scottish routes solely, unless fares were (as they are in the main now) sky-high.
Is it still the case that some transat fares are lower than those on Scottish highland & island routes??