The London market has been essentially stagnant since the mid 2000s. At a time when every other market to London has grown (such as Jersey, Guernsey etc as has been pointed out above) the IOM market is stable. easyJet have done NOTHING for this market except stifle growth.
The passenger numbers do not speak for themselves, the IOM passenger market peaked around 2006/2008 and has never recovered since then
the LPL market is actually no bigger now that it ever has been, again easyJet have not done much for that market.
I do understand that leisure passengers (who travel once or twice a year) think easyJet is the best thing since sliced bread, but the reality is they are not. As has been pointed out above, the economy is suffering and business is suffering.
Now the IOM economy is starting to show signs of decline. Now I am not saying this is a direct result of air services, but it is a well know and accepted fact that air services sustain and provide a catalyst to economic development. And the lack of services on the IOM are a contributory factor to the drop in economic activity.
Like I said, for the leisure market (and dare I say it, the spotters) easyJet are fine, but as had been said by me and others above, what the Island wants and what it needs are two different things, and we certainly do not have a well connected Island.
Also, as a point, my comment above about connectivity was not about providing connections, it was was about a high frequency network of direct flights.
If you consider that the IOM once had direct air services to JER, SOU, LBA, NCL, EMA, GLO, LTN, STN you start to see my point
We also used to have at least daily flights to EDI, GLA, BRS and multiple daily flights to BHD.
Now we don't and this is all as a result of open skies and leaving it up to market forces. What we have suits the airlines, it does not serve the Island.
My final point, and then I think I have said all I can on the matter, I think my views are well known, is about LCY. I am confused about the comment that BACF/T3 have reduced the service. As far as I know it is still, and always has been 3 flights a day, and from what I know they are well supported.