It staggers me that "significant scaling back of aviation activities" is seen as a bad thing. It's not super complicated if you strip out the politics of the electoral damage inflicted if the long term decisions to right size the business are taken.
What component parts make money? Keep them and cut out the loss making operations that are a drain on the good parts.That means Ryanair being subsidised to operate one or two daily flights in winter out of a 1965 build terminal needs to end. That level of business can be done out of GLA and would help that private business to do better, it's no longer the case that GLA and PIK compete meaningfully in that space, they do not, GLA won, it's been game over for years.
If you strip the running costs of the terminal out you have a fighting chance to save the rest of the business, but the debt needs to be written off, as no one is going to take a punt on PIK nowadays with that sort of drag on performance.
But nothing will change so long as the SNP is in power and the Tories kept the place open to save George Younger for years. The more things change...