The airport that can most be compared to Teesside right now is Prestwick, which is also a marginal airport in a deprived area close to other airports in more prosperous areas. There the holiday flights are still running, but are effectively getting millions of pounds a year in public subsidy. Unlike Ayrshire Teesside does still have industry, so it does have regular business flights.
The next valid comparator would then be Blackpool...
This just isn't a good time to be running that kind of marginal airport.