JM926,
Jet2 is very differentiated in the market. The jet2holidays brand is huge for package holidays in the Northern Ireland market. They have less to worry about than say EasyJet, who at the face of it will be competing for the same thing. Yes EasyJet have holiday options, but this is far less developed than the Jet2 offer.
Jet2 also has the diversified model with revenue from freight, and typically low cost aircraft that are old and low or no repayments. They can compete effectively. They have demonstrated resilience in the Leeds market where Ryanair set up a base in competition...
EI-BUD