Low-cost carriers are applying hybrid business strategies in Europe to compete with traditional airlines for more customers. The aim of this study was to investigate the differences between low-cost and non-low-cost carriers on an operational basis in terms of on-time performance, turnaround scheduling, turnaround performance, and block time setting. Data was retrieved from flightradar24.com and analyzed for three major European low-cost carriers and two hub-and-spoke operators for the airport of Valencia. Results indicate that the combination of turning around aircraft quickly and sufficient time on ground to absorb delay is a key factor for success. The findings are relevant for airlines aligning their strategies with current market requirements. Further research is required to fully uncover current strategies of European low-cost carriers on a network-wide basis.