Another thing that nearly always gets forgotten is that a large percentage of SEN's pax numbers will originate from many of the destinations airports' catchments. Why? Because SEN is marketed as, and perceived to be, a LON airport so a far larger number of pax will be inbound than would be the case otherwise. In a number of cases these pax will form the majority of the total traffic.
Sounds plausible, has anybody seen anything which confirms this is happening?
Regarding "Stobart`s strategy of concentrating on market penetration first" is a nice sound bite but would I believe have most airline economists & commercial teams running for the hills.
Offering loss-leader fares hasn't done RYR/EZY any harm. Stobart are also different in that they have both an airline and airport(s!) so can afford to take a complimentary strategy - speculate to accumulate!