Lo co works well in times of expansion
Clever aircraft financing, airport deals, staff paid peanuts, trainees paying to fly etc etc
With the day to day economic situation we see now, travel becomes a discretionary luxury for many,and not an option at all for those unlucky to have lost jobs.
The idea that one can fly from one end of Europe or beyond for less than the price of a train ticket/petrol from London to Manchester, is in the long term unsustainable, no matter how many rip off charges /sandwiches can be tacked on to the "£1" fare