Delta and United have become the most profitable U.S. airlines by targeting premium customers while also winning back a significant share of travelers on a tight budget.
Spirit Airlines has lost more than $2.2 billion since the start of 2020, prompting concerns about budget travelers facing fewer options and rising fares.
Low-cost airlines grew by undercutting big carriers, but with rising wages across the industry, that cost advantage is diminishing, which could threaten their profitability.
United Airlines CEO Scott Kirby declared low-cost carriers have a 'fundamentally flawed business model,' indicating a belief that their market viability is waning.
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