The GWY - WAT route is being closed because between Jan and May passengers numbers on the WAT - LTN route are up by 604 passengers and thats only the first 4 months. While passenger numbers on the GWY - LTN route continues to fall. It makes séance to have full aircraft operating from WAT - LTN daily as passenger numbers are up.
The WAT - LTN route is Aer Arann's busiest route.
Correct me if I'm wrong but don't a number of the Galway to Luton flights route Galway-Waterford-Luton. This boosts the numbers on the Waterford to Luton route (with Galway originating passengers) but reduces the numbers on Galway to Luton (as the flights used to operate direct from Galway). Therefore the increase in Waterford to Luton (and decrease in Galway to Luton) seems to be as a result of combining the flights rather than anything else.