I think the point to be made about Menorca is that it is similar to Ibiza in that the tourist trade virtually shuts down during the winter ... I don't think any of the low cost airlies fly to Ibiza during the winter for that very reason.
Monarch reductheir Mahon services to twice a week during the winter.
With that in mind you are only left with passengers visiting friends and family or UK passengers who might have a second home on the island and I think at three times a week MyLite might be pushing it a bit to get good loads. Hope I'm wrong!