As I understand it, in the standard interpretation of the 4 Ps, place (or placement as you called it) should refer to where/how the product is sold (i.e. the 95% via the internet) not where the product sits within the market. This should be covered under product.
And promotion should refer more to advertising, public relations, AIDA responses, etc. But of course, where the low-cost airlines are concerned, the advertising and distribution channels overlap because their internet sites are used for both – so I guess the internet site can get a mention under promotion too, like LGS6753 said.