racedo - yes I do think BA (or at least IAG) can take on the LCCs for flights within Europe. About 10 or 15 years ago were at risk of going bust - they have figured out ways to compete against LCCs for flights to/from London, cut their bloated cost base and provide one way fares that when travelling to/from London I have found are certainly competitive (and sometimes cheaper) than LCCs. Vueling is not the largest LCC but can most definitely compete on a pan-European basis with the other LCCs.
You sometimes make good points on this forum, but your credibility is harmed when you write things like "BA is irrelevant for most travellers and anybody under 30 will not have flown them unless it was paid for by parents when younger in Europe."
If BA can turn themselves around from the old fart brigade, then Easyjet as Europe's 2nd biggest LCC with a strong financial position should be able to rouse themselves from their slumbers as well.