Sadly, Coventry will be losing a considerable sum for now with no light at the end of the tunnel. They average under 1 business aircraft departure a day when five years ago it would have been around three a day. They only have Cat 2 fire cover for most of the day and if you want to go to Cat 3 (for say mid-size business jets) you need to give two days notice!
The costs of running an IFR airport through to 2:00am in the morning plus a radar service during the day will be frightening when your core income is merely light general aviation and your fees are relatively low. The freight flights will barely cover the operational costs of going on to 2:00am in the morning.
Before they get back any business avaition and any commercial aviation they will have to revert back to a high cat RFF which will cost several hundred thousand a year for starters.
It doesn't look too promising when a whole lot of infrastructure will need patching up, upgrading, replacing or refurbishment, a never ending drip, drip, drip of hard cash. Not many will have the desire to stick that out indefinately. You need a benefactor with more passion than sense - or Easyjet move in, even then, they wont pay you anything for five years. Needs an injection like Southend and the Stobart Group - £130m to kick start it back to life. Unfortunately BHX is way to close and all that just in time freight is indeed still packing the ramp there day after day for the likes of Jaguar Land Rover etc. They're not going back to Coventry. BHX is also very cheap for landing and parking which just adds to the pain for Coventry.
Very tough nut to crack.