Guys, the Stelios rumour is old news from 2 weeks ago. (see p92)
If Stelios is in the market for an airline, I suggest he heads up the M5 to Donnington Hall where he'll find a load of old 737's with which to start Fastjet.
As has been mentioned, only 25% of the company has been floated so his ability to own Flybe would need him to jump through a large number of hoops all in a row before it becomes possible.