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The Economist writes about the Airline crisis and compares the European lowprice market to the one in the US:

The European market is going the same way, and it is all happening much faster, since deregulation only arrived fully in 1997. Budget carriers such as easyJet, Ryanair and over a dozen smaller start-ups still account for less than a fifth of European air travel, but most analysts expect their market share to grow rapidly. This year the budget airlines will carry more than 50m passengers around Europe. In the past couple of months another six budget airlines got off the ground in Britain, Ireland, Hungary, Germany and Poland.