But in the 1990s, take off they did.

Debonair, Ryanair, easyJet and Go were all launched in a flurry of competition.

And with four companies charging cheap rates, bearing high overheads and in such a cut-throat business, it was almost inevitable that they could not all succeed.

If one company had to hit the ground, speculators would have put money on it being Debonair.

Go has been successful - but losses have been heavy

Debonair, launched three years ago, was the only one without a famous name or wealthy backer behind it.

And unlike the others, it operated a frequent flier programme, provided a business class service and flew on behalf of other airlines, such as Swissair and Lufthansa.

In addition, analysts say Debonair's cost structure - which includes expenses ranging from distribution costs to staff salaries - is among the highest of the budget airlines.

Debonair made an annual loss last year of £13m. A year earlier, it was £16.5m.

Instead of cutting back, it tried to expand. Chairman Franco Mancassola said the losses were due to the cost of increasing the fleet to 14 aircraft from eight. During the last year, the airline has added routes to Paris Clergy-Pontoise and Perugia in northern Italy.

BA blamed for turbulent times

But only two months ago, another budget rival, AB airlines, went into administration after hitting a troubled patch. So are there other factors involved?

EasyJet puts the blame for both failures squarely on "anti-competitive" practices by British Airways.

BA's low-cost subsidiary Go made an operating loss of £22m in its first year.

A statement on easyJet's website said: "AB and Debonair were unable to compete with another airline that pays no attention to whether it makes a profit or a loss, but has the sole intention of reinstating a BA monopoly and then raising fares to consumers."

Virgin tycoon Richard Branson also blamed BA's moving in on the scene.

"The moment the government allowed Go to get up and fly - and they flew up against Debonair on all their key routes and they've used the high prices they charge on routes at Heathrow and Gatwick where they have a monopoly - I think Debonair's days were numbered.

"There's no question that allowing British Airways to have incredibly high fares out of Heathrow and Gatwick and then undercut on the routes Debonair have been flying, has done Debonair severe damage.

Mr Branson said it would not be good for travellers as history showed that fares then go back up again.

He said the public should back low-cost airlines.

Go managing director Barbara Cassani denied they had been involved in unfair competiton and responsible for Debonair's failure.

Despite Mr Branson's warning, there is another view - that no-frills airlines will always be successful by their very nature.

Doing it well

Ryanair is still upbeat about the future.

Chief executive Michael O'Leary told the BBC he thought Debonair's demise would make no difference to the market.

He said Debonair was in trouble long before Go began.

"They've always been in financial difficulties. The reality is if you want to take competition to British Airways, you must not just undercut their air fares - that's easy. You've got to do is make money doing it.

"This is where Ryanair has the lead.

"We've been at it since 1990 and we've been profitable every year."

He said Go's losses vindicated their stance. Big name airlines had no commitment to low fares, so budget airlines would always be successful, he said.