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, indicating major instability among low-fare carriers in the industry.
Experts believe that if Spirit shrinks, other ultra-low-cost carriers like Frontier will fill the vacuum, but competition will help keep prices stable.
Although Allegiant Air's parent company remains profitable, it has experienced reduced profits since the COVID-19 pandemic, reflecting the challenges still facing the airline industry.
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