I doubt a medium or full-service airline will last long if it flying around half-empty planes of cheapo passengers on bargain basement fares. If their costs are higher than Sleazy's (which they appear to be), then sooner or later they will need higher revenue per passenger. Or else, they will end up doing an EU-Jet.

BA's model is good, in that it can pack the morning and evening flights with full fare business passengers, yet keep the frequency throughout the day by filling the seats with the cheapie fares.

I disagree that BA is an expensive airline. With a little advance booking and some flexibility, BA can easily come out cheaper than the ....e airlines. I recently booked a May weekend in Nice for £80 return. The same on Sleazy's is now £280 !!!