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If it was any good people would use it and numbers would be increasing not falling.
Like any business if you are worse than your competitors then you will lose market share.
I have used CWL a few times easy enough to get to but not much choice and generally cost more. So when looking for flights I compare Cardiff to Bristol and if cheaper then would use Cardiff but often even with the additional travelling petrol cost to drive to Bristol from Swansea it has been cheaper to fly from Bristol.
Cardiff airport needs to find a way to get flight prices down not easy to do