The phenomenon of low-cost airlines is relatively recent in the airline industry, and it was firstly introduced by Southwest Airlines, set up in 1067 and the only American airline that has been consistently profitable for the last thirty years . It took much more time to see the first low-cost, no-frills European airline, Ryanair, in 1991, which emulated the Southwest's budget model. "We went to look at Southwest. It was like the road to Damacus. This was the way to make Ryanair work". (Michael O'Leary, Chief Executive, Ryanair)
The low-cost model became so popular among passengers. Budge…
