You are probably 100% correct.......so does that apply to all the routes from SEN then?
I don't think that it applies to the sunshine routes, or to AMS either. I'm sure there's a consistently strong demand for them which enables EZY to make a high enough income yield. EZY will be paying far less to use SEN than they are LGW or LTN, but MAG may have made an enticing deal so that STN is closer to SEN's cost level. I think it's MAG's takeover of STN and subsequent deal with EZY which has led the airline to cut back on its earlier expansion plans from SEN. I can see SEN staying as a 3 aircraft base.
I could be wrong about future growth, of course, and I hope I am.