lfc84 it was 8 years ago, and British European (shortly to become FlyBe) transferred IOM/LCY and IOM/BHD to EMX....
The demise of EMX was partly due to head to head competition - it was they who took on BA Connect on IOM/MCR. The main reason EMXy failed (per the liquidator IIRC) was due to never actually making a profit....
But yes, FlyBe did take EMX on on IOM/LPL. But they, FlyBe, have thus far (other than the Loganair franchise) not dropped a major IOM route.