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-They had a first mover advantage in places like Manchester and Leeds-Bradford and got there before easyJet, Ryanair et al. Correct me if I'm wrong but I don't think Manchester had a proper based LCC before Jet2? They built up the brand into a household name in these areas through promotion, advertising and word-of-mouth.
-They used an older owned fleet of 737s and 757s that are more expensive to operate, but don't have to be worked as intensely. They might be able to do two short flights a day to Alicante for instance and not lose as much money sat on the ground for the rest of the day. They don't have to fly half empty to Belfast at the end of the day like an easyJet A320 might do, and can do other types of profitable work like cargo, ad-hoc charters etc
-They've always tried to differentiate themselves and make themselves attractive to leisure passengers, and offered a decent baggage allowance, dependable customer service, allocated seating, pre-bookable meals etc from day one.
-A focus on what works well for them. They used to fly more city routes as I remember, even Manchester to Gatwick at one point. However, I think they've realised their niche is leisure passengers and they really drive the business through their subsidiary Jet2Holidays which offers full escorted tours. In that way they're actually more of a hybrid between a leisure charter airline and scheduled LCC. Many of the summer flights go out with mostly Jet2Holidays passengers.
-Steady growth. They haven't rushed to establish a presence in the South of England, but instead built up their markets with complimentary airports e.g. opening a Glasgow base after Edinburgh, and a Newcastle base after Leeds-Bradford, a Birmingham base after East Midlands.[/quote]
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I think you've really nailed it!