On the subject of fares:
Manx2/Citywing had been going 10+ years since 2006 with a fare structure that has already been quoted.
But, when things went pear-shaped on 24 February within two weeks Citywing had already thrown in the towel appointing a liquidator to protect their creditors.
What that demonstrates is that in 10+ years of operation they didn't make any money, any cash reserves they had were spent within that two week period and it has yet to be established if they spent money from advance ticket sales.
There are plenty of puddle jumper sized airliners out there but what is clear is that Citywing's operation was on a tight budget and these aircraft operators won't work for the money Citywing have been offering, FLM did so well they went bankrupt, enough said about the tin pot Spanish Metroliner operator that couldn't even afford to train it's crews, Links Air was another one who had their ticket pulled by the CAA and as for Van Air ...
Were there operators out there willing to operate for fares of GBP19.99 then Citywing would still be trading, they'd have such operator(s) in there now, that demonstrates that all 'cheap and nasty' operator options have been exhausted, the Manx2/Citywing business model wasn't a viable one and for another operator to take on some, or all, of these routes then fares need to increase.