Why do people from Leeds and Newcastle want to see the place shut? Reduce the competition? If MME closed how much more will Newcastle be able to charge airlines/users as the airlines won't have the bargaining tool of if you we wont pay your charges, we will move down the road.. And it does happen because a couple of year back Flybe were about to start operating to Belfast from MME and Newcastle airport heard about it and persuaded Flybe not to introduce flights from MME and increase the flight from Newcastle.. don't know how - reduced landing fees etc? Even Emirates looked round MME before flying from Newcastle..won't be good for the passenger neither with reduced competition.
I never expect the place to be as busy as Newcastle or Leeds, but there is the demand for a few flights a week to Palma, Alicante, Tenerife and Turkey etc. The Ryanair flights to Alicante were very popular and that is fact, over 90% load factor each month, of course there is the yield which no one will know, but with a 90% load factor they must be making some money.
There are still quite a few movements each day with business jets, Cobham, light aircraft, training and military movements, so while the passenger side is struggling the place certainly isn't dead.
Plus I don't want to fly from Newcastle or Leeds.. just doesn't make it easy for a weekend away with kids etc, but if there were flights from 5 minutes down the road then I would be tempted..