How do low-cost carriers perform in times of crisis?

How do low-cost carriers perform in times of crisis?

With the global airline industry reporting billions in losses in 2008-2009, the crisis begged the question: how low-cost carriers were affected and how they coped with a drastically changing trading climate. In more mature aviation markets, such as North America and Europe, low-cost carriers were facing a multitude of challenges as their growth appeared to saturate with ever-increasing unit costs.