Characteristics Of The Pacific Southwest Airline, Southwest Airlines

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3.1. Introduction
Whoever was the first low cost airline and, consequently, the pioneer of the low cost idea – the Pacific Southwest Airline (PSA), Southwest Airlines or Laker Airways – this business idea has definitely revolutionized aviation market and has become part of today´s flight market (Groß & Schröder, 2007).
LCCs - Low cost carriers represent one of the most exciting and dynamic developments in recent commercial aviation history. Creating new products and minimizing the financial costs of air service operations, LCCs have been able to reduce air ticket fares and in this way they have enabled growing numbers of people to fly to more places, more often and at a lower cost than had been previously possible. The availability of cheaper tickets stimulated new demand for air services and since their launch the low cost carriers have expanded tremendously their market share. Their successful philosophy has been also recognized and implemented in other industries such as rail and coach operators, hotels or car rental providers (Budd & Ison, 2014).
3.2. Characteristics of low cost carriers
Even though a universally accepted definition of low cost carriers doesn´t exist, they generally can be distinguished by the other airlines because of the fact that they have a common cost-reduction strategy on these elements:
• Single aircraft fleet: using only one type of aircraft they can reduce the costs of maintenance, training, spare parts and also negotiate discounts with the

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