They wouldn't be the first airline to add a number of Embraer jets to then have financial difficulties if, indeed, that were the case. Ludicrous and totally unexpected announcements such as opening routes to Rodez probably don't help. It suggests that those at the top aren't necessarily making the right decisions for the business.
The core business is what is going to make it money. The core business in Eastern's case is oil and providing a high level of service to business clientele. Recently , Eastern have been making a lot of noise about slashing their fares and are obviously trying to generate more custom from leisure passengers. This either means that the oil business is not currently working for them or they want to change their model. My understanding is that, with the lower price of the pound, North Sea Oil is currently more popular which would suggest that oil business traffic should be increasing rather than decreasing.
The BHX-NCL route was lost precisely because the route didn't fit that particular model and the price wasn't low enough to compete with a regular, albeit slow, rail service. Currently, they have high service, high frequency routes at lower prices that are being (at times) significantly undercut by many similar routes operated by other airlines. Then there was the purchase and merger of Air Southwest for what reason exactly? I know this was a few years ago now but, instead of using the opportunity to expand and consolidate their business, they facilitated a total withdrawal from the South West of England which also caused the closure of Plymouth Airport. One of Eastern's big rivals on the sort of traffic they pursue (oil, business and small charter), BMI Regional, has seen large growth in Bristol - so much so that it now actually looks like a thriving airline again after so much went before.
If Eastern are allegedly facing any problems, it is not because of something that happened last week. It has been years in the making and the raft of snap announcements and changes being made seem a little along the Flybe lines of desperation and talk about niche! The only more niche route than Leeds - Rodez was Billund - Humberside and even the Billion Euro Siemens Wind Energy business couldn't keep that going.
I teach Maths, among other things and one of the things I try to get across to my students is that if the answer looks stupid, it probably is stupid. You'd hope that any issues they have will not affect LBA as I don't see airlines such as BMI or Flybe queueing up to take on such routes.
N.B. (off topic) Whilst researching this, I noticed that Flybe has managed to get rights into Heathrow! How in God's Earth did this happen??