The logical thing for /city council to do seems to be to sell LDY, does it not?
Reasons:
1. They get rid of a drain on finances.
2. It is then up to the new owner to fund the runway extension and any further expansion.
3. Hopefully the new owner will have more experience in the aviation business than the council and attract more airlines, thus increasing those travelling to/from /city.
4. If this attracts tourists then the council gain the tourists and their money.
Holding on to LDY seems to only be a disadvantage to the council at present, possibly in the future it could be an asset but the way things are going it aint looking bright!
Just my 2 pence dnt beat me if I ve made any errors!
