Its not what they have lost, it is what they have got left against how much it costs to do it, against how much outlay, and then all pitched against income , you do the maths !!
If you think about it, Iceland Express wandered off to Gatwick, EL AL found a new home at Luton and then increased flights to x6 per week, its all about money these days, if you are paying out more than you are taking in ... then cuts have to be made somewhere