Over the past twenty years the US airline industry has been marked by the intense competition
between the Low-Cost Carriers (LCCs) and the Full-Service Carrier (FSCs). The fundamental
differences between the two business models are reflected in considerable cost advantages of the
LCCs. In this paper, I use a set of model specific metrics to investigate whether the competitive
process has led to convergence in some of the key features of the competing models. I conclude
that despite some evidence of convergence along certain dimensions, the LCCs are not ready to
abandon the core LCC model.