I regularly travel to Hamburg on business and for pleasure and monitor the fares regularly. I have found that consistently the Germanwings Birmingham-Hamburg economy fare is higher (by a significant margin) than Lufthansa's economy fare was on the same route.
Enough to put us off using it to travel to Hamburg before Christmas for the Christmas markets we used BA from LHR instead which was £70 less per person!
I don't think Low fares subsidiary will work if the fares aren't low
