Forgive a layman's interjection but excellent load figures do not always translate into excellent yields, do they?
I know that when baby started at CWL they undercut GO/EZY at BRS on some routes to the extent that some regular BRS passengers made the road journey across the Severn to fly from Wales.
I believe that EZY have recovered these pax and I do not know the seat prices that baby now charges for its routes out of CWL vis-a-vis other low cost airlines elsewhere.
I believe that someone from EZY told me on a forum that the BRS-BFS loads were not brilliant but the yields were pretty good.
I must confess that the mysteries of airline economics is sometimes slightly baffling to those outside the industry.