The appeal will just eat up lots more money. With no airline likely to move in at Coventry for may years it will be wasted money even if it could overturn the verdict. Having no airlilne makes the case even weaker.
The more the opening times are cut the less income the airport will have. I cannot see it being in buisness past March 09. What would normaly happen is that a new buyer would turn up. I cannot see anyone getting a loan on an airport with declining income this year or next.