El bunto,
Can't argue with what you are saying. However, yes easyJet is profitable as is, but taking the longer view when FR continually elbows in on easyJet routes, like has been more notable of late like BFS and STN EDI and GLA and increased competition on the continental Europe from like in Italy where easyJet closed Rome base and set up as new made in Venice.... EasyJet future profits will be challenged in the current form. That's my point.
While FR has lowest costs, following by Norwegian, Wizz and Vueling, consistently FR strategy has been to under cut rivals to uncommercial levels like it did with Go ex ROI and easyJet ex ROI too. In these instances coat base meant nothing it was willingnews to burn cash and kill the competition that won out.
It is all fine and well saying let FR and DY fight it out at the lower end of the market, but FR is improving and I cannot see clear water between FR and easyJet, so easyJet needs to be sure about who and what it is in the future... Therefore defining what is the lower end of the market...