From recent New York Times:

http://www.nytimes(dot)com/2007/12/23/travel/23prac.html

Also read 'Comments'

Interesting article. I am not sure what to think after reading it. I have travelled in a number of low-cost carriers in the past couple of years. Mostly they have new or near-new aircraft. Speak with the flight attendents, pilots and ground crew and a common thread emerges: faster turn-arounds of the plane, more hours worked by staff, fewer physical ofices (most if not all bookings and check-ins done online).

Peter