A big ask for a new airline to set up from scratch just to operate these kind of routes.
Whilst it's possible to find merits in routes like IOM, JER, WAT, GCI....... surely any real chance of these routes returning to Luton are with existing operators at some point, perhaps the likes of BMI Regional, Cityjet or even easyJet (to IOM & JER) could be tempted to try if they felt conditions were right?