Consolidation....
Although there is consolidation from Jet2 at MAN & NCL, their offering from LBA this Summer (as it stands) will be their biggest ever programme.
They had a very expensive summer (07) at MAN, leasing-in extra capacity which in the end proved too much in the face of competition in the overall North West market. Admittedly they had issues with bad timings on some of their MAN routes (BCN) which meant their load factors and yields were a bit off.
So Summer 2008 sees a refocus - less at MAN, more at LBA and a shift towards the longer sunshine routes and more of Jet2holidays.....(which incidentally easyjet have a similar set-up). Given all the IT consolidation and the talk of a 30% reduction in IT seats this summer, I reckon Jet2 have every chance of making a good operation in this area.
I wouldn't get too excited about the share price, the City is a fickle beast. Likewise the fact that PM owns 40% of the stock, I'd have thought a takeover would be unlikely. Lets see the share price in the summer!