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Recently, Spirit Airlines (SAVE) has become one of the most popular airlines among investors. Spirit has changed the airline industry with its "ultra-low-cost carrier" model that aims to use low fares to stimulate demand for air travel among customers who might not otherwise fly. In other words, the company creates its own customer base rather than snatching customers from other airlines whenever it enters into new markets.

Through low costs and high fees for optional services, Spirit has created an exceptionally profitable and successful business model. This is the reason why many airlines are now trying to follow in its footsteps to serve the new target market created by Spirit. Because of strong demand, the company has been...

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