Southwest Slips in Value as Budget Airline Market Gets More Crowded
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Southwest Airlines' market value has declined and it is no longer among the top 3 most valuable airlines globally.
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Indian low-cost carrier IndiGo now has a higher market capitalization than Southwest.
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Southwest faces increasing competition from other low-cost carriers like Frontier, Spirit, and Breeze Airways in the US market.
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Major US airlines have introduced restrictive "Basic Economy" fares to compete with low-cost carriers.
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Southwest enjoyed decades of growth but its value has recently been overshadowed amid a highly competitive budget airline market.