American Airlines to offer stripped-down airfares

American Airlines is the latest airline to offer stripped-down airfares, and passengers will soon be able to purchase basic economy fares that are the lowest available price.



The cheaper tickets do come with some standards. You won't be able to get a seat assignment until check-in, and you will be in the last group to board the plane.



You will also not be able to use the overhead bin space, and your one bag has to fit under the seat in front of you.



The tickets are non-refundable, and they're not eligible for an upgrade. 



The basic economy fares go on sale in late February.


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