I mean, easy competed on most of the routes from EMA in the past, AGP, ALC,PMI,BCN,VCE,EDI,GLA!!!
I also understand that easyjet was never making a loss at EMA, just that it fell stagnant with only 3 based aircraft. If they went for baby, they would automatically move back onto their old routes, in which they knew and know how to fill. They also made huge ancillary revenue from EMA and buying baby would give them the scope to expand this time as apposed to staying stagnant.
Don't forget, this transaction would also give them the oppurtunity to explore BHX as well??!!?