SWA is over 40 years old, is highly unionized and is more akin to a legacy carrier than an LCC with regard to labor costs. A more accurate yardstick in North America would be newer airlines such as Westjet, Jetblue, Airtran, Frontier, Virgin America and USA3000. The pay and conditions at these airlines signal a new era in employee remuneration within the industry and compare poorly with the salary levels offered by Jetstar.
The low cost carriers in oz, like other parts of the world, have put pressure on pay and conditions but have also provided more opportunities as city pairs become viable that once were not and frequency is increased on services already flown.
Regulation was a protection racket for the lucky few customers and employees that were involved.