Low cost carriers (LCCs) have been hugely important in mobilizing the world, particularly in Europe and Southeast Asia. Thanks to efficiency-boosting technological advances (i.e. cheap planes!) within an industry that’s normalizing cost-cutting corporate business models (i.e. more fees!), running an airline is becoming increasingly less expensive (and far more profitable). New companies have since emerged in wake of these trends, such as Ryanair and AirAsia, and committed themselves to passing savings on to consumers.