Short routes can be very profitable because air fares are based generally on willingness to pay with cost as a secondary consideration.
One way economy fares on Monday are currently GBP 147, 110, 95, 168 and coming back on Friday fares are GBP 82, 51, 51, 95, 71 on each flight of the day.
Business class fares on the same days are currently GBP 178, 148, 148, 235 out and GBP 148, 117, 117, 148, 148 back.
Fares for destinations much further afield in Europe are often similar for a much greater distance flown. Of course it costs less to fly to Jersey because it is close. Then you also have to factor in the benefits of connecting traffic to the network and I bet yields out of JER are pretty good.