I don't know where you go the idea that Swissair were a "no-frills" airline from. They even used to offer a full first class service on their ZRH-LHR routes.
I think you were possibly thrown by the OP's failure to use the Roll Eyes/Sarcasm emoticon after their post.
I believe the point they were making was that far more old style full service airlines have gone to the wall than low cost ones so the failure of Oasis doesn't really prove anything in that regard.