Wittering is a perfectly viable location. So is Scampton, so is Cottesmore, none is perfect but all three could be used if the will was there. Point is, the will isn't there. As far as I can determine, there is no interest in relocating the show. The concern now seems to be whether any show at all will re-emerge in 2016.
Maybe the way forward is to look at a pseudo-IAT type of event that has direct RAF support, but is organised without the RAF. No reason why a show couldn't return to Finningley. It was a monumentally popular event, and at a perfect location. The airport isn't really an issue - there are so few flights they could be accommodated within a show (this has been done at other airport show venues). One would think that Peel would welcome a huge event to publicise the airport too.
Rewind, take Finningley's show back from Waddington and return it to Finningley! Sorry, Doncaster/Sheffield *cough* *spit*
