But if there is no competition they can't go anywhere can they?
I 've spent years traveling LHR- ABZ and BA have charged eye popping prices most of the time - but it's business travellers who pay them. If I don't want to pay I go Easyjet or whoever else is on the run - or even take train
Plenty of airlines have gone bust by not charging enough - very few by charging too much.
The IoM is a small customer base -and a limited tourist destination. Not surprising you have to pay more than say Jersey