An old chestnut this, folks. Who is “low cost” and who is “full-service” – no clear answer to this. After all, Swiss and bmi offer “low service” features with their pay for menus in economy.
While examples exist of “full service” airlines offering lower fares than the “low cost” competition on occasions, I think the average cost evidence is fairly conclusive. Ryanair’s average fares are consistently significantly lower that that of the competition (“full service” and other “low costs”), even taking charges into account. As an anecdotal example, just booked Glasgow – Dublin return on Ryanair for £26 all in; Aer Lingus wanted £148 for like timings on the same dates.