The reason people still fly at Elstree even though it's a dump, is.... the airfield's location. Very close to London. Simple as that.
The first thing you do when you get into the office every morning is chase overdue payments.
Once you've got all that cash in, or started the court paperwork, the second thing you do is issue invoices for work already done or goods already supplied but which haven't been invoiced yet (which really can only be because the work was completed late last night, can't it, otherwise you'd have invoiced yesterday, wouldn't you).
Only after you've worked to get in money you're already owed does it make any sense to start doing new work to earn new money.
Which means that the owners of Elstree should do all e above and the remedial work, double the landing and parking fees and run the business properly.
Those who need to use the place can afford to do so, those that don't want to can go elsewhere.