There are benefits in systems that have both high-end full-service airlines and low-cost carriers (LCCs). Singapore Airlines and Scoot is one such combination. Pure full-service airlines and LCCs do not have this option, and may lose out.
THE airlines business is seen by many as glamorous. I too have had a long-time love affair with airlines and have even written books about them.
However, from a hardnosed strategic, economic and analytical point of view, the airline industry has always been a terrible business to operate...