GoodDayJohn wrote:
I don't know the criteria to classify an airline as "low-cost"
There is nothing that specifically defines a "Low Cost" carrier, but the general business model of a "low cost" carrier is considered "obvious" to the other players in the air travel industry, especially the "Legacy" carriers.
"Low Cost" doesn't always mean cheaper, although it usually does. The low cost price model is usually very simple, with only a few (around 5) fare basis codes. Also, the low cost carriers do not usually drop or pull their fare basis codes to/from the market as much as the Legacy carriers do -- and the low cost carriers use a far simpler algorithm for distributing their fare basis codes.
In most cases, the low cost carriers use a fixed fare basis code release system that virtually guarantees the customer a certain fare for a large window of time preceding the target flight.
Low cost carriers have not, traditionally, participated in reciprocal carriage agreements with the Legacy carriers, although that situation has been fluctuating for the past couple of years.
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International travel grants you certain rights and also hamstrings you in certain ways.
Travel to the Caribbean and Central America makes the waters even muddier.
Thanks for the explanation Srilm. I don't understand all the jargon, but I think I get the general idea.