EMX have not helped themselves in the past but it would be a shame if they went under (especially for those that earn a living from them). What they need to do is come to some sort of arrangement with FLYBE to say, give up on MAN in return for FLYBE giving up LPL . As to me, both airports are essentially one market the consumer could still benefit from competition and the ridiculous overcapacity would stop.
Fred : 40% load factor could mean a profit for either airline, unless you know the yield it really means little.