It is all cataclysmic.[/QUOTE]
This is a global issue which will take years to resolve. The announcements by IATA, ACI (Airports) and various others point to a very difficult future for some time. Those forecasting a recovery (to pre-pandemic levels) are suggesting 5-7 years - everyone's guessing of course - 2025 is tends to be on the optimistic side now, Paris Airports say 2025-27, IATA 2025 (maybe) but could be longer and, it says last week, that airlines will run out on money by the middle of next year even after all the government loans and grants.
Eurocontrol who have issued the best near term forecasts indicate flights through the winter at 50% of normal, most are suggesting there will be 30% fewer flights next summer than in 2019. The UK as a whole is running with passenger levels at about 12.5% of normal which seems to be reflected across most of Europe. Batten down the hatches.
Some airports and airlines will need to hibernate for a while, not all will 'wake up' from the long winter. As Darwin said, it is not the biggest or the strongest that survive changing environments, it is those that are the most adaptable. That is true for airlines and airports too. Its already clear that Cargo, Biz Jet and Domestic travel is doing better than the rest and likely to continue to be for some time.
Lastly, those with cash in the bank will bounce back first (Ryanair in Europe). Many of the others will shrink probably by 30% or disappear.
SOU will bump along with the Channel Islands traffic and some domestic, the airport's challenge is - like the others - to find a way to operate with a cost level that is viable. That means shorter hours, fewer staff, and keeping cash in the bank until the revenue rolls in again rather faster than costs are going out of the door.
At least even now, its rather busier than the cruise port down the road!
FF