An article in The Economist argues that legacy airlines have not benefited by adopting LoCo's policies.
Tend to agree, if you look at Aer Lingus which went from Legacy to purely low-cost after 2001 it seen short-term benefits between 2002 and 2007 fueled by a growing home-economy, it quickly became unsustainable and had to adapt and change its model to survive which it is now doing well using a hybrid type business model.