So as I understand it, Jersey entry restrictions have been difficult for people to comprehend, the demand hasn't been sufficient to support the number of seats and the overall number of seats to Jersey has out-run the accommodation capacity on the island.
If the numbers above are right, 5 x AT7 and 9 x ERJ flights in the month produces about 1,600 seats. There were 775 pax so flights overall were less than half full. Sounds like over capacity to me. MME isn't alone as the position at NCL with three airlines flying to JER and 1,961 pax looks even worse.