Currently Flybe have 84 aircraft plus one Q400 on order. Once it's been delivered they will have 85. By the end of this year, they will have 79 aircraft (6 Q400s will be removed), and by 2019/20 they will have 70-75 aircraft.
Based on the current number of aircraft (i.e. not including the Q400 on order), Flybe will cut their capacity by 6% by the end of this year. By 2019/20 they will have cut their capacity by 11-17%. That's up to one sixth of Flybe's total capacity being axed in 2-3 years.