The objective of the thesis is to perform an analysis of low cost carrier market in the Europe, case studies of defunct and successful low cost carriers and to determine factors, which affect survival time of low cost carrier on the market. The thesis is focused on the European market in 2007-2017. It includes brief description of origin of low cost carriers and their spread to the European market. Next part is dedicated to general description of a low cost carrier and analysis of the European low cost market. Three defunct low cost carriers are described in the next chapter, which includes basic information and detailed description of their actions. It includes determination of cause of ceasing their operation. Three successful low cost carriers are described in the same manner. In the end, the factors affecting survival time of low cost carriers are determined with usage of an analysis of economic and operational parameters of low cost carriers.