The real issue Teresa, is that most of the LCC's aren't really LCC's. They lower their costs by creative accounting and operate as parasites off the entire aviation industry.
They are using the "Well I'm not making an adequate return now, but once I send my competitors broke, I'll raise my prices a little and I'll have all that extra volume as well ." I can tell you from direct and bitter experience that this is a common problem in many industries (the printing industry for example).
The problem with this strategy is that the LCC's never cover the full cost life cycle associated with their industry. They always believe that they will keep their aircraft for Ten years and then flog them at a handsome price to buy new stuff, so they don't build any heavy maintenance capacity. They don't build terminals. They treat their employees like trash, believing in a never ending stream of eager trainable recruits. They don't build infrastructure. They believe in contracting everything out.
And guess what smart competitors do when they get undercut by idiots like LCC's? We always send them our worst customers. The ones who are only marginally profitable, or who are disruptive, or who don't pay. The complainers, the Whiners. The ones for whom low cost is everything and who have no appreciation of quality (including safety).
That's not "growing the industry" it's about giving people who can't afford the full cost of flying a chance to fly.
...And eventually the future catches up with them, as it will one day with the likes of Ryanair and Jetstar.