The British Foreign and Commonwealth Office has updated their travel advice today - Tuesday 22 October 2019.
The FCO now "no longer advises against all but essential travel by air to / from Sharm el-Sheikh."
Grant Shapps, Transport Secretary stated that lifting the restriction was "the first step" in resuming direct flights. "The safety and security of British nationals remains our top priority and this decision follows close co-operation between our aviation security experts and their Egyptian counterparts, and improvements in security procedures at the airport."
Reports in the mainstream media indicate that TUI are looking to reintroduce flights to Sharm, and EasyJet would "look at any opportunities" as a result of the lifting of the flying restriction from the UK.