timzsta
Interesting theory and I'm sure easyJet's overheads have increased as they have expanded, but reached the level of the network carriers? Don't think so, check the CAA Airlines financial data and prove your point. Where's the evidence that they have put up fares to cover the overheads, unless you think 1.6% increase in average fare is significant.
There's going to be losers in this market, but I think easyJet will continue as Ryanair will, although perhaps with lower margins, but still on an annual basis making money. May not be what the City traders want to hear, but that's the reality of the UK/European short haul airline business in 2004.