I think its funny how everyone likes to blame David Cameron for this decision, how quickly they forget that it was the labour government that spent billions and billions on doomed and pointless PC projects, red tape and admin, the huge and I mean HUGE budget defecit came about because of careless, wasteful spending. That is where the blame lies, Cameron and his government said enough was enough and decided after consultation with Airforce chiefs (fast jet jockeys) that they would not throw good money after bad.
It is painful for those involved but not as painful as it would be for the whole country if we just ignored the huge defecit.