Wow.
A hefty slice of comment on this thread is so utterly, utterly misinformed and the failure to comprehend basic economics is astonishing.
The 'Jet2 shaped hole in the door at Manchester' is a good thing, for example. Those elements of the business that have been dropped clearly weren't making money, but they gave it a go. Yes, their Manchester operation could possibly be worked on or turned around, but is this really the right climate to to chuck money at an uncertainity, or would you put that money into the things that are working and making money and look set to continue making money?
And the trading statement was common sense, given recent uncertainty across the industry, and as already mentioned, XL did not make a similar announcement prior to going balls up. To say they did is an example of yet more miscomprehension and is another completely uninformed comment.
The anti-Jet2ites on here know no bounds. Unfortunately, many of them know no economics either. I get accused of being a Jet2 insider because I make posts like this, so I'll just get that out of the way again... I'm not, and I have no vested interest in Jet2 whatsoever. I just follow these things and occasionally work in the airline industry (amongst many, many other industries coz I'm freelance). I no longer live in Leeds and I have no money in Jet2 or anything like that. I don't 'do' shares.
Put simply - the Jet2 strain of the lo-co model simply has a few crucial tweaks that at present are clearly paying dividends for them - cleary. It may not be this way forever, but it definitely is for now. Their trading statement is not a smokescreen. They seem to be operating with a fluidity and reactivity that's keeping their head above water for now. This is good. It's good for the industry too. It shows it can be done in this climate.