Most people will go for the cheaper bus than pay for the flight. However, there is a significant business market who would prefer the convenience of the flight. The question is whether the twice daily flight it would require would produce the yield. I would still have thought an ATR 42 would work, but RE don't have any based in Cork.
In other news, 24 hour opening is to be maintained at the airport, but with a reduced number of ATC operators.