Racedo -
Potentially too many eggs in one basket.
... and they are putting a few more eggs in that basket with the acquisition of the FlyBe slots.
The fact of the matter is that EZY is expanding at LGW and SEN, static at LTN and declining at STN. This "enabling" agreement with MAG, publicised only by MAG, is an attempt by MAG to show their stakeholders that they are setting about polishing their newly-acquired turd. (to coin a phrase)