niteflite01
I do not think it is a case of the customer base not being there, the problem is actually running a economically viable service. Reading between the lines the reason easyjet dropped the Luton service was they could actually make more money by utilising the aircraft on other routes. The Euroceltic service suffered from poor publicity and as you have pointed out, was not exactly the most reliable service.
MAN has the advantage that BA and BMI are feeding passengers into LHR and LGW for onward connections on their own and alliance networks, rather than just being a 'London' service, that LPL has had. easyjet would not get that many people transitting through Luton onto their network as most of the routes are already duplicated from Liverpool anyway, and if you are getting a connection at LHR or LGW, the transfer time is such that you may as well drive, get the train/coach in the first place.