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 …showed first 75 words of 1037 total…

…showed last 75 words of 1037 total…Routledge. All rights reserved. It is clear from the cascade analysis that the low-cost airlines should be able to maintain cost levels per seat available which are around 40- 45 per cent of those of conventional airlines operating on the same or parallel routes. Doganis, Rigas. Airline Business in the 21st Century. Florence, KY, USA: Routledge, 2001. p 150. http://site.ebrary.com/lib/staffordshire/Doc?id=2002438&ppg=162 Copyright © 2001. Routledge. All rights reserved.