LCCs are on the wane. When the concept was introduced they numbered in their hundreds worldwide, there's 30 odd left. Premium carriers have changed their product to adapt by offering similar unbundled ticket prices but on airplanes that also carry premium passengers. QF should probably have done this as it would have prevented their offspring devouring it's mother and sustained what is left of the QF premium service culture. BA went down the same route but sold off its LCC before it too made the parent company irrelevant. VA will offer competitive tickets to leisure travellers at a price that the company can sustain industry standard ops.