chickenwings, insight, none just been around a bit!
The likes of EK offer the world via their hub and that make it another ball game, i know you aren't suggesting that Globespam (dam it thoose keys again) aren't competing with EK or BA for that matter, but unless your an international legacy airline eg BA,AFKLM,AA,DELTA,UA,EK,CA then it wont work because you'll never get the people up front spending Łks and all of the above have got more money invested in business lounges than Globespam(dam thoose keys) have in engineering.
I'ts really that simple. There is more money (by a huge margin) inside the M25 than there ever will be outside it, i don't see Jet2 and Globespam as the same, one is a travel company trying to be an airline the other is an airline trying to be a travel company, both would IMHO have made more money for less risk if they stuck to what they do best!!??, remember its not (all) their money at risk, they have shareholders funds to consider, Sir Mick & Sir Richard do not have to concern themselfs with thousand of small(and sadly all to often misguided employee, remember Silverjet!!) shareholders to consider