They were in direct competition with other operators
Yes but Easyjet are in competition with themselves from the services they already operate or could operate from other London Airports particularly Stansted. With BAA Stansted being sold the new operator will be looking at airports around it and seeing if they can offer a deal to attract business back to Stansted or new business that airports like Southend would be keen to get. When it comes to financial clout Sobart could find itself struggling for business if it goes head to head with the new owners of Stansted.
Luton was a victim of this many years ago when BAA enticed Ryanair and TNT to Stansted from Luton.