Ongoing
A concern must be that, all things being equal Emerald can get over their problems and get their AOC back, what work will they still have?
Emerald's operation of 11 748's & 5 SD3-60's is a big hole to fill.
Until recently the UK supported a variety of cargo airlines: Atlantic, Air Contractor, BAC, Channex, Emerald, Streamline & Titan, with other airlines doing the odd bit (Aurigny, BMI).
Now, with Emerald out of the picture, there is really only Atlantic Airlines, who tend to go for the larger aircraft (ATP, L188) while Air Atlantic seem to be using their ATR's on passenger operations (Sub's and their new schedule). Air Contractors, now an Irish company, seem to be mainly a Fedex contractor. Will they get the F27's back in the air or use some of the extra ATR42's? Titan are down to just 1 ATR42, Channex are now a 737 only operator on those freight routes they still run, while AUR are doing a bit with their ATR72's but must still support their core passenger operation ex GCI. Streamline was taken over by Emerald some time ago.
So Emerald customers (the Royal Mail & courier companies) will have to move quickly to get capacity in to operate their flights. However once these alternative operations are underway, what's the chance of the work going back to Emerald when they get their AOC back?? Customers like RM & courier companies I presume would not react well to being dropped in the sh1t.