In an attempt to compete on a level playing field with upstart ultra-low-cost airlines Allegiant, Frontier and Spirit, three of the four remaining "legacy" airlines (American, Delta and United) have begun selling less expensive "basic economy" airfares. So now you'll have as many as five airfare products to choose from on some flights: first, business, premium economy, regular economy and basic economy.
The two most important features of basic economy to note: on some airlines, you're not allowed to place a bag in the overhead bins (whatever you carry on board must be small enough to fit safely under the seat in front of you); and because you can't choose a seat in advance, you'll be assigned a middle seat at check-in or at the gate, probably at the back of the plane. But there are other restrictions and rules to note, which I've broken down by airline, and there are subtle differences between airlines (for example, Delta customers earn full frequent-flier accruals and can use overhead bin space, but not those on American and United).
Southwest, Alaska, JetBlue, Virgin and most foreign-based airlines haven't introduced this new fare class. And while Frontier and Allegiant still allow changes and cancellations for a fee, American, Delta and United do not. When buying these fares, note that on shorter routes, the price difference between basic economy and regular economy may not be worth the perks you surrender, so choose carefully.
