I dont get this. If you want a 'no frills' airline in other words you want a low cost base so that you can sell the tickets for less without going bust, then why not just reduce the 'cost base' bit and then sell the tickets for a bit less money, capitalising as you go on your proper, full service, brand?
How can BM do this 'no frills' stuff when by definition they remain a 'full service' airline, with all the attendant overheads still in place?
Suggestion! Instead of puting the workers on poorer terms and conditions to save a few bob, why not sack a steady 75% of the management! believe me, nobody would even notice. (probably good advice for Big Airways also).
Still, never yet seen a turkey vote for christmas!