FlyBe on LCYEDI makes me think that they really don't understand the power of the BA Exec Club. These Gold and Silver card holders won't move for price even if FlyBe can offer cheaper fares. As for EXTLCY ??????
Think you need to see what BA do.
Remember IAG own 15% of Flybe and may be more than supportive of this by reducing frequency. I doubt IAG were unaware of this occuring.