Its seems crazy that Plymouth is the largest city on the South coast, with a large population of students and is suprisingly isolated to the rest of the country (take it from a former janner!) and now sons airport.
That said, it has been on the decline for a decade and everyone knew it was never going to expand with the WX records, the STOL and poor location. EXT will cream off anything worth having and NQY will probably look to expand any charter traffic. Failing that, it is BRS if you want a regional hub/scheduled flights.
It may seem like a backwards step for a city that is ever increasing, but the airport never really existed in a commercial capacity. The old logo said it all - the aircraft did a fly-over and then diverted to another airport!
Sad day for any staff that are left on site - Devon is a nightmare for interesting employment at the best of times....good luck guys.