Just to head off those who say that extreme cost cutting is "necessary" to compete with newer carriers (not necessarily LoCo) on fares, I will quote from the pricing for myself and a colleague for a round trip next week, in Y, at key business hours from London to Dublin. One on CityJet from London City, a "high cost" airport with a "high cost" BAe146/RJ, the other BA from Heathrow on a presumably more efficient A320. Exactly parallel flight times to rendezvous at destination, booked at the same moment.
CityJet ex LCY £280.91
BA ex LHR £454.50
I'm forgetting that Cityjet give me a snack and a drink. BA ?