Although Ryanair and other low-cost carriers generate large amounts of revenue from "nonticket sources," legacy airlines derive significantly more by selling frequent-flier miles to partners, typically via co-branded credit cards, says a recent study by IdeaWorks Co. According to the report, Europe's top four LCCs raised €470 million ($589.1 million) in ancillary revenues last year by charging for things such as seat assignments, checked baggage, credit card usage, onboard snacks and ...

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