NO it doesn't. Taxpayers money being given to airlines and airports to subsidise routes is nothing more than Paying People To Come Here.
Never a viable long term strategy and frankly slightly humiliating. Spend that money elsewhere improving the environment, the business climate or the cultural quality of the region and people will want to fly to the airport without bribes. Which is sustainable, self generating and wholly more pleasing for all involved.
If you are absolutely desperate to spend more taxpayers money on transport then get rid of the Severn Bridge toll which must deter millions of journey every year.
Cheers
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