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You're confusing two things here - from a North East perspective, any reduction in LHR's position as a global hub is more likely to benefit AMS/DXB/CDG rather than MAN. MAN doesn't have the range/frequency of services.
Perceived wisdom only and without clear evidence.
If carriers want to be in the UK market they need access to those customers.
Does it matter where the relatively small numbers from the North East traveling long haul actually transfer - BTW use the choice argument BA are available right now and show no signs of going away any time soon !
No R3 and even long delay could be beneficial for Newcastle to actually get its Frankfurt link for A* long haul choice.
Further you absolutely need to look at analysis of where the major growth markets expected will be and surprise surprise its not within the golden triangle FRA/AMS/LHR but regionally within Asia and via the disruptive forces of flexible fare carriers in most other areas. Long haul actually isn't where its at !
Is it therefore something of a surprise that the industries loudest voice for R3 is from Easyjet and what will they offer - More sun sand and ski with perhaps EU cities - Well pretty much what bmi did and even yes that "might" include one or two domestics if you're lucky, but bet your bottom dollar those will be more Edinburgh over Teesside or Liverpool!
However don't let the HAL message that its about global trade mess your mind.
From what i can see and what is certainly the case for Newcastle is that it's grossly underserved in relevant leisure markets
Its own growth and frankly that's what the airport owners operators and shareholders should be far more concerned about is they need to get out and sell the place.Heathrow link is important its in the bag (For decades!) you keep an eye on it but it won't ever increase your revenue or visibility any more than it already does.
Now you need more and new customers at your door (not someone else's!).
Profits to a Qatari/Spanish consortium won't pay Newcastle Airports bills !
As for the range and scope of services from Manchester they are deepening all the time - All alliances are represented and almost every major EU/EFTA economically active region is connected multiple times a day.Plus more Sun and Sand than any other British Airport. Globally we have China/Hong Hong/Singapore/USA effectively daily and more flights to Pakistan than any other airport in Europe !
With the ME3 pretty much anywhere in the Sub-continent and South East Asia is just one stop
We can go via One World if thats your flavour via Helsinki/JFK/ORD limited Madrid and yes LHR but that frequently means two stops to many major destinations with BA railway type frequency preferences (particularly to Asia and JFK) !
With current and envisaged growth Manchester will be certain to add parts of Africa more frequent USA and additional Asia over the next ten years.
And right now there is a recovery in the really important cargo market with something pretty powerful (For box and pallet movements) just around the corner.
Manchester Airport should be the beating heart of the so called Northern Hub not simply more in suburban Slough/Windsor -Ashford/Hounslow regional.
All that does is cement those businesses and shippers in the M4 corridor and helping the youth and entrepreneur in Team Valley how exactly?
Yes thats right off they go down to Feltham renting and further depriving the North East - Thats exactly the sort of economic development the Northern Powerhouse is meant to retard !