Blackpool as a commercial airport is finished, it's can make a profit as a GA and helicopters.
Not sure they will do this, not sure they can. Even as a GA airport, larger jets do land for reasons other than passengers.
If the facilities are calibrated to its real market, in other words to meet the known demands from the aviation industry for facilities at Blackpool, it is nonsense to say that the airfield is finished. GA and helicopters are just as commercial as charter jets and scheduled flights.
As many have said, there is no real demand for jet passenger flights at BPL; the competition from LBA, MAN, LPL is far too strong and always has been. Equally it has been shown that no real demand exists for scheduled services with small aircraft.
So the future would lie in GA and maintenance, IF the owners, local government and suchlike really want a thriving business there and will support its development to the hilt.
What length of runway is needed for that is a matter for study; but it is a certainty that the RFFS and ATC services will need drastic pruning. Shortening the licensed runway, but retaining the full tarmac length with minimal maintenance for use as long stopways and RESA can allow larger empty aircraft to position for maintenance. It does not need a precision approach for this purpose.
What the management could do is set out to be the best GA and 3rd party maintenance facility in the North of England. They need to encourage operators, FBOs, FTOs, completions, heavy maintenance, storage and care, parcels, whatever. All these are businesses that do not flourish on an airport whose primary role is scheduled and charter passenger flights. Given facilities that meet their very different needs, they will come.
But investment is needed, and it's a risk. Will it happen? Let's see.