Smithy sums up the Flybe experience pretty well - professional crews, good service and appropriate aircraft but at, usually, high fares. And yet they don't make money! Given their fares, load factors and pay rates, I'd have expected them to make a substantial margin but they don't seem to make a bean. I know they always blame one off "special factors" but the bottom line is their bottom line is in mostly red ink!
Maybe one clue: Mrs Torque and I regularly fly to PMI. We're within 30 mins of SOU which is a great little airport. Flybe have just three services a week in summer whereas EZE from LGW have at least 50 plus MON etc etc. Huge local demand for PMI but fares and lack of frequency send us all trekking round the M25. Initial daily flights plus reasonable fares would quickly lead to double dailies and be highly profitable I'd have thought but Fllybe must know better - or do they?