I think they made several mistakes, the initial AOC debacle, having to wet lease aircraft whilst the embraers were grounded, the delay in the 135 certification to LCY, under financing of the company. It seemed overstaffed, 37 pilots for 3 aircraft. Their passenger numbers in their unsuccessful routes were growing slowly. If only GX could have lasted the winter.... What startup airline expects to make profits in their first year?
The best hope for Cork is for RE to grow its base there. It will be interesting to see if EI add any more routes ex Cork now that one of their competitors is gone.