Do you thing Virgin Atlantic will really make it to Asian subcontinent cheaper?

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Richard Brandishing of Virgin Atlantic, an airline running in the US is planning to start low-cost flight services to countries of the Asian sub-continent like China, Malaysia and India. Will this initiative really work out? Especially for countries like India where low-cost is as good as a train fare to the place. Will this whole idea of low-cost for such long distances really work?