Gordon Brown is more likely to win the current series of X Factor than Flybe taking on the festering corpse of BMI.
Mainline has no relevance to Flybe whatsoever; Baby is about as appealing to the directors as an acid enema; and Regional does not offer anything to the Flybe network that is worth the cost and hassle of taking it on. BACON did offer many advantages in terms of size increase, route growth and a big payout from a profitable (at the time) parent.
BMI group has none of these. You may as well speculate on next weekend's lottery numbers, because you have far more chance of success.