Has the age of low-cost flying ended?

The distinction between 'low cost' and 'legacy' airlines has diminished in the last six years according to a report by KPMG.

On short-haul flights the cost base has narrowed dramatically as traditional carriers copied the pricing models of their new competitors.

KPMG's James Stamp wrote the report and told BBC News that the global financial crisis played a big part in the convergence.