Fare war
Initially low fares to entice custom doesn't work in regional aviation. And from what I have seen the LM loads compared to the T3 loads are actually quite comparable.
But taking into the consideration the operational cost of a 145 to a J41 with the same loads it's easy to see who can sustain the lower load factors for longer.
LMs major expansion and rejigging with ultimately lead to their downfall, T3 have learned that and being burned by the partnership with the devil in Purple.
Interesting and rather scary times ahead for both companies.
As a side note, I'd love to see Sierra Nevada successful in bringing the 328 back to the market. A wonderful aircraft.