Look at LCY-LUX, theory says competition is good so BA decided to compete against long standing Luxair who not surprisingly defended the route strongly. BA had to walk away, because on many high frequency E-Jet / turboprop routes, there's only room for one operator. If you want cheap fares, then a once daily Ryanair or easyJet will work, but they are opposing models. Look at the IOM and JER to see how it plays out.