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The bankruptcy filing of Spirit Airlines underscores the existential problem for air carriers. After driving many of its competitors out of business with its no-frills model of below-cost fares, bare-bones service, and nuisance fees, Spirit still couldn’t make a profit. How did we get to a place where the only thing shrinking faster than the number of airlines still in business is the amount of legroom in their cabins? Joe and Mark tell the fateful story of air travel, in which the one-two punch of deregulation and September 11th led to a TKO of airlines and passengers alike. (Recorded December 6, 2024.)
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