Europe’s low-cost carriers (LCC) have been a constant annoyance to their legacy peers due to their ability, year in and year out, to combine above-average traffic growth and steady increases in market share with above-average profit margins for the industry. But is the tide starting to turn against them? LCCs in Europe, like the legacies, are feeling the adverse impact of geopolitical tensions, terrorism, the UK’s vote to leave the European Union, overcapacity in the market and ...

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