In airlines speak, what does it mean by "traditional carriers"?

Question

...As in "EasyJet and its Irish-based competitor Ryanair are the two largest low-fare carriers in Europe, and both have remained profitable while traditional carriers like British Airways have bled cash." and "Vueling, caught in a row between shareholders and management, said it faced strong competition from low-cost and traditional carriers as well as high fuel costs."

Answer 1

name brand big guys, like TWA, American Airlines, etc.

Answer 2

Traditional Carriers are like British Airways, Aer Lingus, American Airlines, etcetc.  The countries named airline.

Answer 3

traditional carriers run scheduled routes - and while it appears that carriers like easyjet run on a schedule, they are actually a charter - which has no ramifications, other than by customers, if the plane doesn't make its flight.

traditional carriers bleed cash because of the depreciation expense of the equipment....