I hope a replacement, at least to Gatwick is forthcoming. This would give some scope for interlining, and also give a service to south London and the Kent/Sussex area. The SOU service seems to do well. There would seem to be several airlines who might be able to do this. Could I suggest:
1) FlyBe...already ops at LBA and LGW, right size aircraft, fit their business model;
2) ASW...as above, though outside their traditional territory. Are they not about to get their fingers burnt on LGW-NQY, though?
3) LS...but possibly too big an aircraft but could be ok for x2 daily.
However, BRS, EMA and BHX seem to do fine without, as far as I know, any London link at all. We would seem to be on the periphary of the viability of London flights.