Wish they'd reopen PLH, I'm sure you could get a Q400 in and out of there "easily" just operate outbounds via NQY/EXT. But I'm sure there will be some reason why that can't happen.
You'll probably find that the council are selling/have sold the land to developers.
On a different note FlyBe are determined to undermine the West Country Rail system by their latest comments.
Ditch unreliable expensive trains says most punctual airline Flybe | Western Morning News
However I can't see air and rail fares dropping because the price of fuel has come down. It would be interesting to see which carriers are hedging their fuel whilst the prices are low.