Oddly enough, all the European airlines that they mention are lowest of the bottom budget airlines.

EasyJet, RyanAir, TuiFly all are famous for offering ridiculous prices like a €20 Hamburg-Barcelona roundtrip and then trying to recoup those ticket losses by charging through the nose for hand luggage, in-flight food, and by being very pushy in selling their duty-free goods.

In my opinion, those airlines have always been operating at a loss while burning through investor money, so I am not surprised the least that they are still losing money.