IMO BHX and its management got it wrong way back in the late 90's when it remained resolutely loyal to the BA/full service airline horse
The same can be said of MAN. I remember going to a meeting in the mid 90's addressed by John Spooner, the then MD of MAN who clearly stated that MAN would concentrate on the full service airlines and the lo-cost airlines would be directed to EMA.
In all fairness, I believe that decision was a gross under-estimate of the potential of the lo-cost market
at that time rather than any arrogance towards lo-cost operations. Lo-cost was simply seen as a development of new markets which would not impact European short haul air travel to any significant degree.
All the European legacy carriers were very slow indeed to recognise the threat from the lo-cost operators until it was too late to react effectively.