IAG pricing on London - Madrid
I realise that IAG now have a monopoly for non-stop flights on the Heathrow-Madrid route. I notice that one-way economy fares are available at a reasonable price from City airport, but from Heathrow, one way fares are all business-class only. What's odd, is that flying economy, there seems to be ample availability from Heathrow when picking a return trip.
I know that Easyjet + Ryanair also fly from Gatwick, Luton and Stansted to Madrid, but IAG have a monopoly at not just Heathrow, but also City as well. If LGW, LTN or STN are seen as being able to compete with City for point-to-point flights, then they are presumably also seen as capable of competing with Heathrow.
On that basis, why does BA seem to be exerting its pricing power only at Heathrow and not City as well ?