Part 2/9:
The foundation for today's low-cost airline model can be traced back to the deregulation of the airline industry, notably propelled by the United States' Deregulation Act of 1978. Before this pivotal change, air travel was predominantly reserved for the affluent, with legacy carriers commanding high prices and offering perks that catered to rich customers. With deregulation, new low-cost carriers emerged, revolutionizing the market by emphasizing operational efficiency and strategies to keep costs low, thereby allowing a broader audience to afford air travel.