The half year results contain this gem;
"Esken, Carlyle and LSA are particularly aligned on the type of airline agreement that it is targeting. Commercial passenger flying has to be profitable for all parties to ensure it is sustainable."
You can be assured EZY and FR were making money last time out so the implication is that the airport wasn't. A fact borne out in the numerous annual accounts that trumpeted passenger numbers but failed to address continual losses.
EZY did not invest in new aircraft for the SEN base, they reallocated 3 STN airframes. A no cost experiment is how they saw operating from SEN.
FR had no need to be at SEN on any terms other than their own given their huge base at STN.
It's all a little too late now. The airport terminal is geared towards the loco pax (stack it high and sell it cheap). No lounges, no decent retail, no decent restaurants. Whilst the local population rightly love the airport I cannot see this catchment alone delivering the 2m+ pax per annum required to turn a profit.
The results look no further forward than mid 2023 when large debt repayments are due. This gives the owner less than 2 years to prove the business case for the airport.