The BMI Baby decision has evoked many emotions, amply demonstrated by submissions to this thread: "pretty foolish"; "shock and anger"; "despicable, what the hell are they thinking"; "seething with the arrogance of WW".
Sadly, whilst I'm sure we all fully sympathise with the staff and customers affected, arrogance and foolishness don't come into it. Only two questions matter. Firstly, did the MME base make a profit? Secondly, if not, is there a reasonable prospect of it doing so in the foreseeable future? BMI Baby views the answers to these questions in the negative. That's why they are leaving. The company is a commercial concern run for profit alone, not to feed civic pride or for philanthropic provision of a desirable service to the public. No profit, no service. BMI Baby is not foolish or despicable to apply this principle; it is the only way an unsubsidised company can survive in a cut-throat business environment. If the leaks aren't plugged the whole ship goes down. Clearly, it's disappointing in the extreme for those hit by the cutbacks. However, maybe it's better to say "thanks for trying" rather than "despicable, what the hell are they thinking." There's alot of airlines out there which have never given MME a chance.
I for one hope MME does attract new operators. But be under no illusion. In an environment of high fuel prices and anti-aviation policies from politicians, only profitable services will survive in the long term. Not just at MME but across the board. If in doubt, read afew of the other airport threads on PPRUNE ... grinding of teeth and howls of protest are par for the course in this industry. Civic pride postures, but money talks.