Can new airlines bring Canada's sky-high fares back to earth?

New York

TRAVEL nearly anywhere in the world, and you'll find cheap airlines offering no-frills service, from European giant Ryanair Holdings plc to Peach Aviation Ltd in Japan, Flynas in Saudi Arabia, and Spirit Airlines Inc in the US. But head north of the border, and the aviation landscape is untouched by ultralow-cost airlines.

Canada ra…