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Flying these days sounds like an incredible bargain.

Low-cost is a key focus, not just for the Ryanairs and Spirit Airlines of the world that are historically known for cheap flights and limited service. Legacy carriers like United and American have introduced stripped-down fares to better compete, and even international trips are getting the bargain treatment. You might have noticed headlines about $65 one-way transatlantic fares recently.

But what are travelers giving up when they opt for the lowest price? And are the overhead bins really off limits if you fly cheap?

On today’s episode of the Skift podcast, we’re talking about the true cost of cheap flights, why airlines are fighting to capture price-sensitive travelers, and what they’re charging for instead.

With us in the office is Brian Sumers, Skift’s airline business reporter, and joining us by Skype is editor-in-chief Jason Clampet. We’ve also got clips from interviews Brian and Jason did with British Airways CEO Alex Cruz, International Airlines Group CEO Willie Walsh, and Emirates Airline President Tim Clark.

 

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Photo Credit: Economy seats are pictured on a Delta plane. Legacy airlines are dropping prices and providing fewer perks to travelers in some sections to compete with low-cost carriers. Delta