I imagine Easyjet made profit at SEN in 2019, but that the profit margin or return on equity was rather lower than (eg) Gatwick. Did Easyjet cover their cost of equity capital at SEN ? Who know...
When times turned tough, it's the weaker bases that are usually cut
I imagine Easyjet was likely paying rather low fees at SEN compared to LGW While Stobart could offer a much lower cost base to Wizz than Easyjet, I'm not clear how much lower Stobart can go on airport fees, given that they were struggling to find the cash to pay a dividend to shareholders
I know that others on here know far more about Easyjet at SEN than I do. I mean no disrespect to them, but I do genuinely wonder how all the money flowed and will flow at SEN - I ask awkward questions out of core interest in the topic. The person who asks no questions on a subject often has no interest in the subject...