Thanks for those. So 'Trash Airlines' for the US and 'Boganair' for the Aussies! (Employees of a certain Scottish regional carrier might object to the latter so apologies to Scott Grier for that).
Would the concept transfer to other countries? I think you would need a burgeoning underclass and a thriving LoCo sector for the joke to work, but surely we in the UK are not unique.
I would be interested in seeing a US or Aussie translation.....