It is a relatively big loss, but its hardly anything in terms of capacity. There was never going to be enough room for both EIR and BE on the route, just hopefully BE will stick around and make things work. Things do seem to be on the up generally.
Positively, the airport has today announced that this May saw a 27% passenger rise on last May, with figures beating that of last June !
Also, reported elsewhere the VY A321 will be visiting CWL on some BCN rotations come August, so there must be pretty decent demand on the service for this to be subbed in (also noting that there will also be one A319 rotation).
VY Summer 2017 is and has been on sale for some time, and ALC is now showing as 5x weekly throughout July, although not bookable yet. BCN will go 4x weekly throughout the whole Summer season, as will AGP, and PMI will begin from April as was the case this year, but I believe that also has periods where its 4x weekly.
When VY first started out at CWL there were many who said that it would not last 5 minutes, it's now lasted 4 going onto 5 years, and they are ever expanding here. Next Summer will see around 17 flights per week from CWL providing things stay how they are, and I can only imagine that they are taking a few passengers from across the bridge too, as are BE with some of the recent loads that I've heard.
With regard to BE their Jersey service may pick up a little from CWL since Blue Islands have became a BE Franchise, with seemingly all of the Blue Islands benefits diminished, like free baggage etc. with the BE product, which some people have been moaning about is too expensive due to the smaller aircraft. There is a good amount of hope for CWL yet !!!