The No-frills Airlines

In contrast with the charter airlines, which existed long before deregulation, the airlines dealt with in this section came into being at the same time or shortly before. As their slang title suggests, they are based on a very convenient price/service relationship, making savings on the second of those factors.
These airline companies target that section of individual travellers who, if travelling with other companies, would go for Economy Class at the lowest prices available: the advantage that the no-frills alternative offers is the equal or lower fares, based on the use it or lose it principle, that is to say there is no possibility of changing the reservation, that being the point at which the flight ticket is bought. This is also the principle employed for the best individual fares on scheduled flights.
…