If MME can't get FR, I really can't see them getting anyone for the next year or so and we will become a humberside, blackpool, newquay tumble weed international.
I think FR are far more likely to go into LBA in a big way. I believe the contraction of routes at MME could be a good thing, would it not allow Peel to cut back, look at which way they want to go and then expand when the conditions become more favorable? The regional 'backwater' airports will always suffer at times like these.