To be honest and to give LPL credit - they can pretty much hold FR to North West ransom.
FR have publicly dis-owned MAN and BLK in the North West - so which other airport will the airline fly to in the UK's second biggest aviation region. LPL is the only choice...
U2 have started to expand at both LPL and MAN and have set out their plans for the two bases but LPL would have to be more careful with this airline. U2 profit from the airport but they would easily be able to transfer 9/10 of their services to MAN with little trouble, probably being able to increase revenue. HOWEVER, it would be very unlikely they would do that as FR would clean up at LPL. U2 don't make rash decision unlike their Irish counter part.
So juggling the two carriers puts LPL in a very strong position and I am sure they are making some sort of profit.