Just as an example ... BHX/FCO/BHX,
A few years ago this was a regular business route of mine, Jet2 operated once a day direct services yet, somewhat cheaper, Swiss operated three times a day cheaper indirect (via ZRH) services and on each and every sector one was served with a complimentary snack/sandwich/coffee/beer and an exemplary friendly and professional cabin service ..... Why on earth would one want to "LoCo" it?