Low budget airline companies have made it their main objective to fly passengers at low rates. Making it cheap 
for travellers to fly also means they have to cut down on a lot of costs involved with the business.
There are expenses that the companies can do nothing about, like the fuel and materials for the aircrafts. Instead, they cut down the luxuries that you would get on a more expensive flight. Employing less workers, not providing food, cutting down on space for passengers are a few examples of how these companies have reduced their costs. Keeping their flying distances short is a way of saving money.
Recently Easy Jet has further decreased their onboard bag size to accommodate everyone’s belongings. Will squeezing in a few more bags and body benefit them?
By providing the bare minimum for customers, they have an opportunity to sell upgrades, which a passenger on other major airlines would have had for no additional costs. These small upgrades, for example priority seating, add revenue to their company. This allows for a bigger range in audience too, perhaps people want a cheap flight but are still willing to pay a little extra to get a few amenities.