In Europe they can easily fill a plane with passengers and get multiple trips out per day between destinations. In Canada, maybe you'd flying with a partial plane load, and can eek out maybe a couple of flights between destinations. That's probably why we're never going getting those kinds of cheap flights.
If you can fit 169 passengers on a Max 8 for 20 Euro a head and do that flight between Dublin and London pretty frequently. It's a 1hr+ flight, so maybe 15 back and forth flights?
So back of the napkin math not taking into account maintenance dead time.
20 Euros*169 seats * 15 flights = 51000 Euros per day, not including people paying for bags.
An equivalent Canadian flight from Sydney to Montreal? What's the demand there? There's little chance that you could fill a plane, even at a low cost, to do a huge number of flights back and forth every day and make a profit.
A popular route, like Calgary to Vancouver is a good example of a route the can be relatively cheap for passengers and profitable for the airline at ~$65 to $150 one way. I don't see how you do that for a route that is only occasionally popular.
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