mmm...not really, Jim. I think you'll find where they compete the legacies more often than not match the LCCs on their lowest and their highest fares. Now the mid-level fares can be just about anything in-between...but that's an entirely different conversation.
For example Southwest has a major presence here in PHX. They are the second largest in terms of passenger numbers and number of flights operated. PHX is probably their 4th or 5th largest "hub" even though Southwest avoids using that term. With every major fare sale announced by Southwest I have been able to find tickets at the same price on Continental. This is because Southwest now flies to LaGuardia in New York and Continental considers them as competition on their Phoenix to Newark route.
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