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A low-cost carrier or low-cost airline (also known as a no-frills, discount or budget carrier or airline) is an airline that generally has lower fares and less comforts. To make up for revenue lost in decreased ticket prices, the airline may charge for extras like food, priority boarding, seat allocating, and baggage etc.
The term originated within the airline industry referring to airlines with a lower operating cost structure than their competitors. While the term is often applied to any carrier with low ticket prices and limited services, regardless of their operating models, low-cost carriers should not be confused with regional airlines that operate short flights without service, or with full-service airlines offering some reduced fares.

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An electronic Cheap ticket or Cheap e-ticket is used to represent the purchase of a seat on a passenger airline, usually through a website or by telephone, or sometimes through Cheap airline ticket offices or travel agencies.

This form of Cheap airline ticket rapidly replaced the older multi-layered paper tickets (from close to zero to 100% in about 10 years) and became mandatory for IATA members as from June 1, 2008. During the last few years, where paper tickets were still available, airlines frequently charged extra for issuing them. E-tickets are also available for some entertainment venues.