Who is to say what the real reasons are. I suspect most airports will see a down turn in business as people only have so much money to spend on travel and that extra weekend away will be sacrificed when belts are tightened.
Easyjet HQ can see what is happening everyday at Luton as they only have to look out of the window. The more flights they put on the harder it is for staff to get to and from work.
Wizz has got to where it is at Luton by mass uncontrolled migration to this country. That should be coming to an end but we will have to wait and see.
The airport should be looking at untapped markets if it wants a broad range of passengers including more business travellers but its economy terminal will make that somewhat hard to achieve as men in suits won't like sitting on the floor and quite like airbridges.