PIK will survive, If and when the current owners are bought out.
PIK was a low cost operation with all services in house and making direct profits, remember since 1992 until infratil had it the airport ran at a profit. Infratil failed to understand the low cost model with multi skilled staff and services such as the duty free, bars, shops in house and generating money. Staff were moved around to suit, ensuring costs were kept low.
By giving FR and other loco's good landing rates this generated more footfall spending money in the directly owned outlets, covering the costs of having low landing fees and making money etc etc. This then caused cross subsidy allowing lower operating costs, lower fees, increased trafic and freight. When this lot came in they changed it all trying to run the airport like wellington. This has failed but they still dont seem to get it. Buying Manston was foolish!
At the moment the organisation is shambolic and lacks direction. Landing fees are expensive for a secondary airport and there is no real leadership within the business to develop services.
Just my opinion, but it is an informed one.