The point is that it is not possible to say ryr are doing better in terms of LF than anyone else if you don't compare like for like, regardless of refund policy. Besides, large numbers of no-shows are no doubt those who booked 1p tax included tickets on a whim. Not much revenue there... The whole point of cheap gimmick seats is that they then spend money on board. If they're not there, they aren't spending money, are not producing revenue and are skewing the load factor statistics.
Try to remember that micko lies to you, me, the staff, the shareholders, the stock market, the pax and the judiciary. Start with sceptical mindset and understanding becomes easier.