Terrible news for BRS, Bristol, and the South West.
I too thought this day was coming- the campaigning of late by BRS seemed a little on the desperate side.
I can't see another US carrier taking this route over.... If CO can't make enough from it, I don't see how AA/ Delta or anyone else would either.... Unless they happen to have a load of spare 757/ 767's sitting around they want to put to good use. (i.e. not going to happen). No British carrier will pick this up, VS, BMI, BA, are all either fighting for their lives or don't have the equipment for such a route.
The other problem is that even if it were picked up by someone else, how are they going to offer the huge range of onward connections that CO has a available at EWR? Presumably that was a big part of the reason that the route was started up in the first place?
If it does not work from New York, then it won't work from anywhere else in the US either.
Also, the fact they could not even fill a 757 let alone anything bigger pretty much proves it is unworkable.
We just have to face facts- there is simply not enough demand in the South West to sustain a direct connection to the US.
The only non- budget carriers I can see arriving at BRS now are one of the UAE carriers once the next generation Boeings and Airbuses are flying.