Southwest Airlines was profitable for nearly 5 decades, offering free whiskey, cheap late-night tickets, and free-for-all seating allocation—despite how hard it is to make money running an airline.

Commercial air travel's early days: Flights were short, cold, depressurized, and generally comfortable

After World War II, airlines competed for their high-end passengers by offering cocktails, meals, and plush seats, cultivating the image of the elite "Jet Set." By the 1960s, air transport was completely changing global trade and offering big profits to companies able to ship via plane.

Find out how airlines quietly became banks

Some experts suggest airlines lose money on every flight. This video dives into how airlines have leveraged their loyalty programs to make billions of dollars, effectively evolving into banks.

Learn how budget airlines provide customer savings

No-frills airlines, like Frontier and Spirit, are popular for providing customers with a much cheaper alternative to flying. However, many budget airlines rely on baggage charges and extra fees, which can sometimes make it just as expensive as flying on a mainstream airline.

Some airlines—like American Airlines, which started the first modern airline loyalty program—have loyalty programs with higher valuations than the airline itself.

The drastically different seat tiers on airplanes are a prime example of 'price segmentation,' which is key to keeping airlines profitable.

Budget airline Spirit announced its shutdown on May 2, 2026

After filing for bankruptcy twice, there were a multitude of reasons for the airline's shutdown, including an increase in jet fuel prices due to the conflict in Iran in the first half of 2026.

Find out how airline mergers created some of today's largest airlines

Four airlines dominate the US commercial airline industry: Delta, United, Southwest, and American. Many of these large companies secured their top spots in the industry via a series of mergers and acquisitions starting in the 1970s, when American acquired Trans Caribbean Airlines.

Jet fuel is expensive—which is one reason why it's tough to make an airline profitable

Jet fuel is typically a commercial airline's second-largest expense, second only to labor. Oil prices can be volatile—there have been recent significant increases in jet fuel prices given the 2026 Iran conflict, for instance.

Airbus is a rare European industrial success story that overtook a rival American firm

After World War II, the US dominated aviation, particularly Boeing. To compete, Europe's major industrial nations pooled resources to form Airbus, a customer-centric airplane manufacturer. Its A320 family of planes became the most popular in airliner history, leading to profitability in the 1990s. Amid Boeing's major hurdles in recent years, Airbus remains the industry leader.

Pan Am was once the largest international airline in the US—but it shut down in 1991 after a series of financial issues, beginning with increased operating costs and reduced demand driven by the oil crisis in the 1970s.

Listen to an account of an 'airplane game' leader, a notorious, widespread illegal pyramid scheme that swept across the US in the 1980s.

In 2024, US airports generated over $1B of revenue—partly due to overpriced airport food

Some in the airport industry argue that charging street prices in airport restaurants isn't sustainable because it's more expensive to run a business inside an airport.

Nearly 3 million people fly in and out of US airports every day

However, not all of those passengers generate revenue for the airlines they purchase their tickets from. One business class traveler typically pays for five to six economy travelers. That's partly because airlines measure profit by the square foot, and although a business class seat is usually roughly 30% roomier than economy seats, the business class traveler usually pays about three times as much as someone sitting in economy.

Amazon didn't have a profitable quarter until 2001, more than 6 years into its existence

Jeff Bezos, however, took pride in Amazon's early unprofitability, reinvesting the money Amazon made back into its business, prioritizing investment into long-term growth and customer acquisition over short-term gains.

Randomly boarding passengers onto a plane is often faster than using boarding groups

Although boarding back to front or windows to aisles appear to be sensible approaches to quickly filling a plane, these methods still suffer from passengers stowing away their luggage, which too often halts the boarding flow. Research has shown that the ideal process, called the Steffen method, optimized efficiency by allowing boarding to continue even while stowing is underway.

From 1989 to 2022, Anheuser-Busch had exclusive alcohol ad rights to the Super Bowl

That meant if an alcohol company was not owned by Anheuser-Busch (and later after the merger, AB InBev), it could not advertise during the Super Bowl. This monopoly was part of how Budweiser became known for its Clydesdale Super Bowl ads.

Spotify took 18 years to reach profitability; 70% of revenue goes to rights-holders

The music streaming company lost revenue for years as it sought to grow, but once it went public, investors pushed the company to expand into podcasts, cut costs, and prefer passive mood listening via algorithmic curation to increase value. Users have mixed feelings about using it.

Anheuser-Busch sold half of its real estate holdings to survive Prohibition

The Budweiser parent company also created and sold out more than 25 different nonalcoholic products during this time, including but not limited to infant formula, frozen eggs, and specialized coffees and teas.

CostCo's low-cost hot dogs: The strategy of 'loss leaders'

Wholesale food distributors like Sam's Club, BJ's, and CostCo place a premium on cutting costs for their consumers to cultivate brand loyalty. Enter CostCo's enduring $1.50 hot dog and soda combo. It's a classic example of a so-called "loss leader," a product a company loses money on but which keeps customers coming back for more. Learn the history of wholesalers and how selling over 200 million hot dogs in a year builds CostCo's brand.

See nine airplane models that transformed aviation

This visual guide jumps over the dawn of modern air travel and begins with the open-cockpit biplane flown by the first scheduled airline, the St. Petersburg-Tampa Airboat Line. (Some users may experience a paywall.)

Tequila overtook whiskey as a top US spirits subcategory in 2023

Tequila sales in the US totaled $6.5B in 2023, surpassing whiskey's $5.3B. The shift was partially driven by premiumization, with the majority of supplier revenues coming from premium and super-premium tiers and brands.

See a timeline of early flights, patent approvals and the birth of the Wright Company

The brothers’ most intense period of creativity and progress came between 1901 and 1910, when their work at Kitty Hawk culminated in the first powered flight. The pair, however, were not the most business-savvy, and they struggled to take financial advantage of their pioneering work in the field.

In the 1960s, eateries started using discounted drinks (and sometimes food) as a marketing tactic to make money during off-peak hours

Today, we know happy hours as a time where bars and restaurants offer discounted alcoholic beverages (and sometimes even food or non-alcoholic drinks) in order to attract customers during off-peak hours. But originally, the term “happy hour” didn’t involve alcohol at all.

100 years of passenger air travel: a visual guide

This interactive timeline covers the first 100 years of passenger air travel, which was created in 1925 when the U.S. Post Office allowed private airlines to start delivering mail.

Many startup founders pull out-of-the-box stunts to get their businesses off the ground

Do you know Airbnb’s founders used cereal (yes, as in the breakfast food) to secure their initial round of funding? Or that PayPal’s founders once gave out free money to get people to sign up for the platform? These stories might be crazy, but they’re not uncommon.

In 2013, American Express became the first credit card company to open an airport lounge

American Express opened its first airport lounge, the Centurion, in Las Vegas more than a decade ago. Since then, not only has American Express increased the number of lounges it has in airports across the country, but other credit card companies have also opened lounges.

American Express stopped its rail service when President Wilson seized American railroads

After the US entered World War I, the federal government took control of American railways and consolidated rail companies. American Express officially exited the express shipping business in 1918 and turned its focus to its travel and financial services.

Blue Origin, Jeff Bezos’ aerospace company, sent its first passengers to space in 2021

Founded in 2000, Bezos spent many years working on the company as a side project before it became more well-known around 2004, when a plot of land in Texas was purchased as a launch site for the company’s rockets. He has said that the goal of Blue Origin is to build “reusable space vehicles.” This resource details what passengers experience from takeoff to landing on a Blue Origin flight.

How a failed investment bank almost became the name of a whiskey line

In the fallout of the Great Recession of 2008, Barclays bought several assets from the failed investment bank Lehman Brothers in a fire sale and maintained the company's trademark, despite the bank's collapse. Tiger Lily Ventures attempted to launch a whiskey line parodying the name, but the product was rejected in court due to questions over Barclays' maintenance of the trademark.

See a visual of the largest airlines in the US by market share.

Modern examples of oligopolies include the airline industry

An oligopoly is a market structure dominated by a few key suppliers. In the US, as of 2021, just four airlines (Delta, United, Southwest, and American) controlled nearly two-thirds of all domestic flights, making the US airline industry one example of an oligopoly.

Commercial air travel made international vacations more commonplace.

The Lewis and Clark Expedition brought along an estimated 120 gallons of whiskey and still ran out of alcohol halfway through the journey.

Famously frugal Warren Buffett owns a private jet

Buffett still lives in the same house he bought in 1958 for $31.5K. He has pledged to donate 99% of his fortune to charity. Yet he owns a private jet called "The Indispensable" (formerly called "The Indefensible" because he had no defense for buying it).

Read about 'skiplagging,' a money-saving travel hack

A consumer loophole known as "skiplagging" is a travel hack where travelers purchase a cheaper flight with a layover in their destination city. The hack works when flights to other cities with layovers at your destination are cheaper than direct flights to your destination. Airlines don't like the practice, but there's no specific law forbidding it.

In 2012, scientists purposely crashed a Boeing 727 to identify where the safest place to sit is on a plane in order to survive a belly-flop-style impact.

Explore why Americans are drinking less alcohol

US alcohol consumption fell 5% in 2025, with beer and wine leading the decline. Economists point to tighter budgets and less face-to-face socializing overall, while younger Americans are increasingly choosing not to drink.

The long history of alcohol and sports

Spectators have long enjoyed alcohol at sporting events, dating back at least to ancient Rome. This article unpacks how companies leveraged this history to make beer a central part of sporting events and masculine culture.