This. The ULCCs need to make money on their seat sales and their ancillary fees. The legacies ostensibly do not have to make money on their economy and basic economy seats. The majority of their revenue comes from loyalty programs and premium seats. The legacies are free to match ULCC pricing whenever and wherever they please. The last few years have shown that people will vote with their wallets in favor of the legacies in numbers that have made it extremely challenging for the ULCCs to compete in a meaningful way.