Don't kid yourself that Manx2 are a low cost airline - with only 19 seats to play with, it takes a lot of low fares to pay the trip costs of even a Liverpool Isle of Man flight. The extortionate £10 per departing passenger government tax doesn't apply to 19 seaters so they have a £20 return price advantage straight off, but don't expect every seat at £30 or whatever -the sums just don't add up.
Another operator on Liverpool would, once again, destabilise the market, just when it seemed to be getting some sense of normality, if you can ever use that phrase when talking about the Rock's aviation policy. Liverpool does not need a 19 seater jumping the puddle to undermine Euromanx, it needs stability and volume. I suspect Euromanx would drop their trousers on price just to see Manx2 off, plus add a few more daily flights. So best case, Manx2 win, Euromanx drop out, then what - Arran would simply keep their ATR on the rock and restart the route themselves, or another 60/70 seat carrier would be in like a rat up a drainpipe. . . ho hum, haven't we been there before . . .