Cargo and J and F traffic is what the low costs don't have. They also don't have interline agreements generally and lack connectivity. Hence easy pickings for the traditional carriers and makes life hard in the winter for the locos. The 321s will also provide flexibility to the traditional carriers just as much the locos. Look at Lufty with its loco subsidairies, Aer Lingus, Level etc. Even BA are exploring them and the potential for regional flights to the US if they can reduce the passenger levies to make the economics work. All in all I would say bubble and if the Norwegian regulators find that they have fiddled the books then the investors will soon vote with their feet and they will burn through their cash.