FR couldn't give away a million seats etc...
Well, excepting the revenue from inflight sales (which to someone booking a flight for free isn't going to be much - packed lunch ahoy!) FR aren't losing money if people don't fly on a free seat.
Why do FR have all these seats? Because they bought 738s which weekdays have spare capacity but are chocka at the weekend, rather than buying 73-700 and turning people away at peak.
For those who cackle the "million free seats" refrain, if FR can't give away seats but make money, and EJ don't give them away and lose money, what does that say about EJ yield management?
One does have to remember that the Buzz integration costs have not yet filtered through to FR's accounts, but at least the fish is landed, unlike Deutsche BA!