BA Cityflyer
My suggestion is that limited connections will be possible through LCY once BA Cityflyer has built up a network using 10 Avro RJ100s. It is the same VLM currently does - you can connect from MAN, LPL, IOM and JER to AMS, RTM, BRU, ANR and LUX. The advantage of connecting at LCY compared to LHR is pretty obvious. What BA Cityflyer would, of ocurse, need is a number of domestic destinations in addition to their portfolio of destinations on the continent. Particularly BHD and IOM would make sense since these markets are not served from LHR and currently have to rely on connections through MAN/LGW, routes that will disappear once flyBE has taken over BA Connect.
VLM Airlines
My above link has been removed as it referred to the airlines' website. A quick summary of the numbers I was mentioning:
LCY-AMS 103.846 (+186%). This service commenced in April 2005.
LCY-RTM 136.343 (+21%)
LCY-GRQ (via AMS): No numbers given. This service commenced in October 2006. In December the first sold-out flight was achieved.
LCY-LUX 55.168 (+6%)
LCY-MAN 113.499 (+0.5%)
LCY-LPL 47.779 (-32,5%)
LCY-IOM: No numbers given. This service commenced in October 2005.
LCY-JER: No numbers given.