I can recommend Airtours as a carrier if you want relatively cheap and reliable flights. Direct travel to European destinations from United Kingdom regional airports is a real problem as the really cheap flights seem to only be available from the major airports.
I have found that I can still get reasonably priced flights to European holiday destinations from e.g Glasgow, Prestwick, Leeds-Bradford. They also offer very cheap flights from the main airports as well (although I've never flown these).
Things to watch out for when travelling flight only with Airtours (bearing in mind that they will be keeping their costs down) are: - you have to pay for everything once you are on board. This includes £5 each for earphones without which you cannot hear the in-flight movie. - you have to pay extra (£5 per head) to pre-book adjacent seats. If you're travelling with small children, you need to know that you'll have seats beside them! Although this also entitles you to pre-book your in-flight meal.
I've never experienced any delay problems or baggage problems (even last year at Tenerife when everyone else had to wait 3 hours at baggage recalim, we were only 30 mins with Airtours)
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Advantages: Staff try their best in a bad situation, its just a shame about the company they work for, and the flights are cheap (you get what you pay for) Disadvantages: Too many to list!