It is sad news to hear of AirSouthwest being offered for sale. I agree with many of the commentaries on here, hard to see who would be wishing to buy this.
Small niche airlines can do well if they have a nice or something innovative that competitors cant get after Eg Manx2 small size aircraft on thin routes under 19 seats that allow high frequency at reasonable enough prices.
When Flybe invaded the market this would have instantly pressured AirSouthwest who are a small outfit, prior to that it is arguable to say that based on the limited scale of the airline it is hard to being significantly profitable to make the future bright.
Flybe an unlikely buyer, owing to the its fleet strategy, and perhaps Q400 too big not only to operate at PLY but also too many seats for many of the existing routes.
Perhaps blueislands or maybe Manx2 could see a nice in Plymouth that could shield them from the likes of Flybe?
EI-BUD