Low-cost carrier

An airline that minimizes operating costs through choices such as simplified service, high aircraft utilization, and direct sales, often offering low base fares with optional extras.

Point-to-point transit: A transport pattern that carries passengers directly between destinations rather than routing them through a central hub. Direct routes can avoid the connection costs and schedule complexity of hub-based operations.
Airline deregulation: The removal or reduction of government controls over airline routes, fares, and market entry. Deregulation opened markets where low-fare competitors could choose routes and prices more freely.
Full-service airline: An airline that typically offers network connections and a broader bundle of passenger services, often across multiple travel classes. Its bundled services and connecting networks contrast with the simpler offer common among low-cost carriers.
Price elasticity of demand: A measure of how strongly the quantity demanded of a good or service responds to a change in its price. Lower fares can attract travelers who would not fly at traditional airline prices.
Aircraft utilization: The amount of time an aircraft spends in productive service over a given period. More flying hours spread aircraft ownership costs across more flights.
Southwest Airlines: A U.S. airline founded in 1967 that became a prominent model for low-fare, high-frequency domestic service. Its operating practices influenced many later low-cost carriers around the world.
Regional airline: An airline operating short-haul routes, often connecting smaller communities to larger airline hubs. Regional airlines are defined mainly by route role and aircraft size, not by a low-cost business model.
Airline fare war: A period of intense competition in which airlines repeatedly reduce fares to gain or defend market share. Low-cost entry can pressure established airlines to cut prices on overlapping routes.
Ancillary revenue: Income from products and services sold beyond an organization's primary offering. Bag fees, seat selection, and onboard sales can supplement low advertised fares.
Ryanair: An Irish airline that developed into one of Europe's largest low-cost carriers. Its aggressive cost reductions and fee-based services helped define Europe's low-fare market.

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