I think other posters are making to much emphasis on traffic transfer !
More rather the likes of My Travel are looking for new travel streams and being one of the sponsors.
Possibly the only airline committed publicly to The Finningley Project !
Although they are currently reconsidering My Travel Lite operations at BHX
Finningley could be just right place.
I don't expect the airport to go from ZERO- HUNDREDS let alone dozens of movements overnight !
Take a look around the UK we have Bournemouth/Tees Side/Blackpool/Exeter none of which really meet their local expectations.
I do agree that Humberside may be the big looser since its own runway and facilities just aren't good enough through.
An LCC may very well take up residence with a selection of the usual routes Dublin/Prague/Murcia/Barcelona/Faro you know the ones !
And a few freight routes might open up but its real hard work to win these on a regular basis.
Add-hoc services probably more likely and they will certainly get some GA
Given the prevalence of local Racing (Horse) tracks some traffic MAY be generated as a result.
Don't expect a London service for a long time.
Think about it Doncaster-Kings X in few hours with GNER and at reasonable prices and modern trains is a real option compared to similar Piccadilly-Euston With Virgin now around three hours extortionate prices seventies train sets or Shuttle/BMI
/VLM to Manchester I know which i use when going north.Train on East Coast and Plane to Manchester.