E essa resposta é a errada!
É impossível competir de igual para igual com empresas com um modelo de negócio e uma estrutura diferente!!!
E ao enveredarem por essa via, alienam as suas diferenças e competem no terreno que mais vantagens competitivas dão aos novos concorrentes.
Mais um exemplo disto "Legacy vs low-cost carriers - Spot the difference":
"Ostensibly, then, cost-cutting has been successful. But it may yet backfire. As traditional carriers ape budget airlines, they force themselves to compete solely on price terms. James Pearson, a researcher, argues that with higher structural costs—poor fuel hedging, lower labour productivity and inefficient ticket distribution—traditional carriers cannot compete on price without eating into their already-slim margins. KPMG’s figures show that a legacy airline operating an Airbus A320 between London and Rome spends $12,000 more on each round-trip than a low-cost airline does.
Successful cost saving has, ironically, put legacy airlines in a precarious position, forcing them to compete with rivals on unfavourable terms. Some will fail. The likes of Malev Hungarian, Mexicana and Air Jamaica already have. Survivors will merge and raise prices."