Im of the opinion that LPL will struggle to make any more ground now. It has witnessed some quite extraordinary growth over the last decade or so, but this is mainly down to the two main low-cost airlines. These same two low-cost airlines have finally got a foot in the door at MAN (evidently where they have wanted to be for some time, and MAG have now realised the importance to attracting them), and they now seem to be stagnant at LPL, with FR even dropping certain routes that they have subsequently opened at MAN.
Where do they go from here? KLM are to pull out, again it seems that they are trying to keep their MAN service as profitable as possible. Eastern had also pulled out not so long ago. BE have the one route to IOM but easyjet have increased competition and will certainly be impacting on yields by offering cheaper fares due to the larger aircraft they operate, they will also increase their presence at MAN soon. Charter airlines seem reluctant to touch the place, probably due to the sheer number of summer sun routes on offer by easyjet and Ryanair, not to mention the number offered from MAN. Wizz seem to be doing ok however.
Call me pessimistic, but I think the years of growth for LPL are over, added to that I think MAG will be making the effort to ensure they reclaim those passengers back. Its certainly a precarious position to be in, relying heavily on just two airlines, who are now placing emphasis on growth just 30 odd miles down the motorway.