Whilst we hope that Flybe can restructure and/or find a buyer, KPMG have just been brought in and they may not be BE's ''white knight''
If the worst does happen, I do have a small feeling that Easy Jet, having successfully opened up SEN may well have a good look at SOU to open a base there - my only reservations is the type and size of their aircraft.
The A319 has around 150/156 seats and I gather flights out of SOU will see payload restrictions due to the derated engines the a/c have (even to shorter destinations)
The A320 has 180/186 seats but is less affected by payload problems BUT is a massive jump in size for routes out of SOU (even the high season sun routes or peak time GLA EDI DUB MAN or CDG for instance)
But the train link to the SOU station is worth its weight in gold and correct and clever marketing could well get the traffic increasing - seen as a attractive southern and west alternative to the London or even Bristol airport(s)
It's not going to be without a bumpy path ahead