Southwest Airlines was profitable for nearly 5 decades

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.

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.

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

As of November 2024, Delta Airlines controlled roughly 17.8% of US airline market share, while American Airlines controlled about 17.5%, and Southwest controlled about 17.3%. Spirit Airlines, which would go on to shutter operations in 2026, controlled less than 5% of US airline industry market share at the time.

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.

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.

The story of Boeing's unraveling

Long lauded as one of the world's greatest aviation companies, Boeing has taken a nosedive in the last decade after major mass casualty crashes of its planes and high-profile scandals, which have led to numerous investigations, the temporary grounding of some of its planes, and a huge hit in its value. Listen to this first episode of a series telling the story of Boeing's fall.

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.

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.

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.

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).

One in five 16th century Spanish ships sank while crossing the Atlantic

Despite the incredibly high rate of catastrophic wrecks, during the Age of Exploration Spanish investors continued to fund voyages. Here, economists break down the incentives that led to increased risk, including short travel seasons and the propensity to overload ships.

How Prohibition changed beer

This historical survey from The Beer Connoisseur explores the breweries that survived the government's ban on alcohol production. The common denominator? They all pivoted their business models.

Hollywood alternative Flying A Studios was housed in Santa Barbara for a decade

Founded in 1910 in Chicago, the American Film Company moved west to Santa Barbara to shoot cowboy westerns. For a decade, the studio was prolific, putting out an average of 242 films a year but collapsed within a decade due to a lack of vision.

Two of American Express' co-founders also founded Wells Fargo

Henry Wells and William Fargo formed Wells, Fargo & Co. two years after American Express was created. Wells and Fargo saw an opportunity to expand the express delivery service from the East Coast and Middle America to the West Coast. The two initially asked the American Express board to expand operations, but the board declined, so they decided to create their own company. Today, Wells Fargo is among the top four largest banks in the US.

The 25 biggest IPOs in US history

These 25 companies—which include UPS, Uber Technologies, AT&T, and The Kraft Heinz Co.—had some of the biggest IPO drops in US history. However, not all these drops led to long-term (or even immediate) success.

The numbers behind the 'Star Wars' franchise

The "Star Wars" movies include some of the biggest blockbusters in Hollywood history, with the original film, 1977's "A New Hope," earning a 2,400% profit. Only one of the franchise's movies (2018's "Solo") has lost money at the box office.

How Amazon operates a 'flywheel' business model, a self-reinforcing cycle that drives continuous growth

The winding journey from Standard Oil to the modern oil industry

Standard Oil’s impact on the business world can be clearly seen today in oil giants like Exxon and Chevron. But the journey from the Rockefellers’ trust to the modern firms was a windy road. After the Supreme Court ordered Standard Oil’s break up, the first step saw it separate into many state-based companies like Standard Oil of California and the Ohio Oil Company. Visualize it here.

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.

Sears filed for Chapter 11 bankruptcy in 2018

Although the retailer may have failed financially speaking, some argue that longevity in itself is a success—the brand operated for over 130 years before that bankruptcy filing, after all.

Federal subsidies have boosted US fracking profits

Between 2000 and 2020, the US government invested tens of billions of dollars to facilitate the extraction of shale oil and gas reserves. These subsidies helped make new projects viable and kept fossil fuel companies afloat while global energy prices and renewable energy startup costs have fallen.

Airbnb’s S-1 in 2020 revealed how it weathered the pandemic and its financials

An S-1 or prospectus is a registration form filed with the US Securities and Exchange Commission when a company wants to go public. They can be pretty juicy documents, as S-1s can reveal previously private details about companies to the public, often for the first time.

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

How one Texas Western team changed college hoops

Texas Western, featuring college basketball's first all-Black starting five, stunned No. 1 Kentucky in 1966. Coach Don Haskins shrugged off the issue of race, but he received 40,000 pieces of hate mail after the game. This in-depth history relives the Miners' speed-driven triumph, their snub from Ed Sullivan, and a quiet revolution that sparked integration across the South's courts.

Twain was a notoriously bad investor

After becoming a famous writer, Twain invested in railroad stocks, a magnetic telegraph, and a printing press that weighed four tons. Eventually, he founded his own publishing company, which ultimately led to his bankruptcy. “He is, in business,” one lawyer said, “just a big overgrown boy.”

A 94-year-old stumbles upon a photo of herself from 1947 at an airport

Earlier this year, Gwendolyn Bruhn, who worked for Hawaiian Airlines in the 1940s, spotted herself in a photo blown up on an airport wall. Here's her story.

SpaceX's S-1 or 'prospectus' revealed many previously unknown details about the company, including its unprofitability despite doing $18.7B in revenue in 2025, exactly how many voting shares Elon Musk will have in the company (roughly 85%), and more.

Fast-casual restaurant Chili's is experiencing a resurgence, with its parent company recently reporting a nearly 32% increase in sales, thanks to passionate Gen Z fans on TikTok.

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

Hear about the 250-year history of the United States Postal Service, complete with some of its strangest deliveries, important innovations, and the figures that made it an American institution.

Domino's Pizza's 30-minute delivery guarantee was responsible for the chain's 1980s surge, but it was discontinued after the company was found liable for delivery driver accidents.

See how Budweiser's famous Clydesdales spend their days at Warm Springs Ranch, where roughly 70 to 80 of the beer brand's giant horses can be found at any given time.

Before humans, the Soviet Union and the United States sent animals—including apes, dogs, and cats—to space during the Space Race.

Frank Lloyd Wright's houses are historically hard to sell because they're old, subject to local landmark commissions, and often unfashionable

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon

The United States has had a tumultuous relationship with Cuba since its 1959 revolution, highlighted by a nuclear crisis and a decades-long trade embargo.

The name 'Silicon Valley' arose from the founding of Shockley Semiconductor Laboratory in Fairchild Semiconductor in 1956-57, founded near Stanford University in Palo Alto

One disco producer saw 'Star Wars' four times on its opening weekend and was so inspired that he recorded the album 'Star Wars and Other Intergalactic Funk,' which produced a chart-topping single.

Exploring the Larry Bird punch that almost changed March Madness

Walt Disney's early film 'Alice's Wonderland' was a groundbreaking innovation in the silent film era

'Shogun,' a 1980s TV series, helped popularize sushi in the US by stimulating an American interest in Japanese culture.

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight

See how Ebola tore through Guinea, Sierra Leone, and Liberia in 2014-2016.

The word 'jazz' evolved from 'jasm,' 19th-century American slang for 'energy'

Comedy legend Catherine O'Hara, star of 'Schitt's Creek' and 'Home Alone,' quit 'Saturday Night Live' after just one week to return to her old job.

Louisiana's 'Cancer Alley' is infamous for having some of the highest industrial pollution, toxic air emissions, and cancer risks in the US.

In 2009, the nation was gripped by the story of a missing young boy who was believed to be floating over Colorado in a homemade balloon, until it was revealed that he was at home the whole time.

Power lines are dotted with large, brightly colored balls to improve the visibility of these thin wires to helicopters and small planes and help prevent potential crashes.

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.