I think CWL will survive for a few more years yet. The IT crowd will up their 2012 offering I'm sure. I guess there might be an outside chance that Jet2 or the still born FFB could turn up.
One can blame WW, the airport or Flybe, i think after WW moved its BFS operation to BHD and moved an airframe from CWL to serve STN it was game over for CWL for WW.
CWL is a bit like Hull in the sense that it has a catchment area (Hull the town not airport) which is cut of from the East by the North Sea, the South by the humber estuary and seen by many as a poor area, with high unemployment and a low income profile.....just reflect on BRS for a minute and you can see why it is powering ahead.
bmi have always avoided competion where they could and maybe the likes of MME & CWL could have done OK at $25 p/b but not now.