“…The explanation of LCCs has definitely changed the air transport industry in Europe and, in the future, more changes are expected (Macário et al , 2007). Although flag carriers dominated international aviation in Europe (Barrett, 2005;Kontsas & Mylonakis, 2008) over approximately 70 years (Barrett, 2005), LCCs started to challenge the dominance of FSCs (Dennis, 2007;Keynes, 2008) which was translated to better service (Kim & Lee, 2012;Snyder & Tai, 2012) and lower fares for the passengers (Chowdhury, 2007;Francis et al, 2004Francis et al, , 2007Alwahaishi& Snášel, 2008;Kim & Lee,2012 ;Westermann, 2012;Brueckner et al, 2013;Yabe & Honma, 2016;Vasigh & Fleming, 2016). The deregulation of the European aviation sector contributed to the emergence of the Low-Cost Carriers (Sauter & Nash, 2007;Campisi et al, 2010;Gábor, 2010), and opened the strictly regulated European air aviation sector (Gábor, 2010), which are an increasingly significant for the European air transport sector (Warnock-Smith & Potter, 2005).…”