Isn't the LCC concept reaching it's conclusion already?
The original idea was that by cutting out the frills which the big boys provided they could undercut their fares. Well just have a look at how much your .01p flight now costs including all the extras, and don't forget the cost of getting from the middle of nowhere to where you actually want to get to.
I recently priced 2 journeys in August and they were both cheaper by a long was by avoiding the so called LCCarriers. The other problem with their business model is they rely on another sucker being born every minute rather than repeat business from satisfied customers, just look at their lack of customer services when things go wrong, and there are only so many new mugs to be had.
Just have a look at Skytrax or other sites and see what happens when things go wrong which they are bound to do from time to time.
They are no longer all that cheap and that was their unique selling point.