Rachel Abrams

And can you just explain that model?

Like, what did they do or cut to actually keep those ticket prices so low?

I didn't realize this, that they literally charge you to print your boarding pass.

It's like they're charging for everything except flying.

Like everything else is considered a luxury just to keep the ticket as cheap as possible.

Yep, from American Pie, I believe.

I didn't know any of this.

I am horrified.

Right.

More ads means more controversy, means more news coverage, which means more attention.

But beyond all of that, how is the actual business model received?

Like, given the fact that the business model itself was kind of a novel idea here in the United States?

And what was behind all that growth?

I can't imagine it was just the racy MILF ads.

So, Niraj, it sounds like at least for a while, Spirit was really making progress, revolutionizing travel.

When did things start going south?

Right, because if you have a choice between United and Spirit and they cost the same, you're probably going to go with the bigger airline.

Right.

Spirit does not have a $2,000 business class seat.

OK, so they're feeling the heat from the bigger airlines.