Should have maybe added a bit about Jet2 for those who don't know them. They're a budget airline flying predominantly from LBA but several other UK airports too to an ever increasing variety of European desinations. They've enjoyed dramatic growth since they started operating several years ago.
We've flown from LBA with Jet2 quite a few times to various destinations and found them very good, with just the one two hour flight delay from memory. Most of the fleet of planes they use are refurbished 737s with a nice leather interior, although they now also have some bigger aircraft for flights to Tenerife. Don't know yet what they intend to use for LBA-Heraklion.
LBA is a nice enough, fairly modern regional airport, if busier these days with the growth of Jet2 as well as flying in general.
As with Ryanair, Jet2 charge extra for hold baggage, but an online supplement of £5 per bag each way isn't too bad when you look at the bigger picture. Our return flights to Heraklion next September cost a total of just over £100 each.
Hope that helps.