A quick ACARS check shows that EI-REJ (the old EMX one) has been flying continuously for BE, mostly between BHD and GLA/INV/ABZ this last week.
As said over on the IOM thread, many in the IOM associate RE with 'start-stop' attempts to run IOM-LPL/MAN/PIK/LTN which were all aborted fairly quickly, for one reason or another, in much more prosperous times than these.
IOM-LTN was a particularly sorry tale where they swamped the the route with far too many seats, drove off the incumbent operator, then withdrew, killing the route completely.
Let them just stick to LCY and see if they can make that work. If they are still on it in 12 months, then maybe that will show they have the staying power to try something else from IOM.