The low-cost business model was first implemented by Pacific Southwest Airlines in 1949 and perfected by Southwest Airlines in the early 1970s. It’s since expanded around the world. In the U.S. popular low-cost carriers include Spirit Airlines, Allegiant and Frontier, among others. Budget airlines in Europe include EasyJet, Ryanair and Wizz Air, while Asia is served by players such as AirAsia and IndiGo. Some of South America’s low budget airlines include JetSmart, GOL and Wingo. One way that these airlines keep costs down is by limiting their amenities to the bare minimum. Think no internet or seatback entertainment. They tend to entice travelers with low base fares and then charge for add-ons such as seat selection, food and luggage, all of which will frequently add up to more than the fare itself. To find out more about how budget airlines work and why airlines in Europe are able to offer even cheaper fares than their U.S. counterparts, CNBC decided to try out Europe’s largest low cost airline: Ryanair. Chapters: 1:58 Business model 5:29 Flying Ryanair 11:58 Future of budget airlines Produced, Shot and Edited by: Magdalena Petrova Additional Camera and Narration: Erin Black Supervising Producer: Jeniece Pettitt Editorial Support: Leslie Josephs Additional Footage: Getty Images » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC How Budget Airlines Like Ryanair Make Money

The Stanley Hotel in Estes Park, which turns 115 years old next year, will likely be sold in 2024.

After a record-tying day on Tuesday temperatures will dial back slightly for Wednesday afternoon. Highs will remain above average through the rest of the week, before rain and snow move in by the weekend.

WBZ TV's Katrina Kincade reports.

Matt and Ara B talk to our Mix team about the story that got the attention of the entire city.

WBZ TV's Courtney Cole reports.

Chilly forecast; Teacher under investigation; Baby found on walking path; $2 billion shelter system

Jyzaiah, who prefers to go by Jay, is a creative, crafty, and affectionate boy.

The Minnesota Assistance Council for Veterans, or MACV is helping a growing number of veterans who need housing later in life, explains Sara Riegle, Vice President of Property Operations for MACV.

The holidays are a time of year when we can feel nostalgic, and when we look back fondly at past memories of good times.

While giving is a personal way to show your friends and loved ones how much they mean to you, it’s also a great way to teach your kids life lessons in generosity, explains Dr. Gigi Chawla, chief of general pediatrics at Children’s Minnesota.

A Carver family you may recognize is enjoying a little Christmas magic after a brutal few weeks.

We pulled a fast one on the anchors of Good Day Chicago and fed them possum-flavored candy canes. Needless to say, they were not impressed. Subscribe to FOX 32 Chicago: https://www.youtube.com/fox32chicago?sub_confirmation=1 Watch FOX 32 Chicago Live: https://www.fox32chicago.com/live FOX 32 Chicago delivers breaking news, live events, investigations, politics, entertainment, business news and local stories from Chicago and across the nation. Watch more FOX 32 Chicago on YouTube: FOX 32 Headlines: https://www.youtube.com/playlist?list=PL2-nR6U1joOT92lWD_QLYoNijiDo9uYaP Good Day Chicago: https://www.youtube.com/playlist?list=PL2-nR6U1joORm02SSjflpEVzL0ydEqeFu Special reports and stories: https://www.youtube.com/playlist?list=PL2-nR6U1joOTGGgDx9B31HcT9IM60Al0- Download the FOX 32 Chicago News app: https://fox32chicago.onelink.me/KNQ9?pid=social&c=youtube&af_web_dp=https%3A%2F%2Fwww.fox32chicago.com%2Fapps Download the FOX 32 Chicago Weather app: https://www.fox32chicago.com/apps Follow FOX 32 Chicago on Facebook: https://www.facebook.com/Fox32Chicago/ Follow FOX 32 Chicago on Twitter: https://twitter.com/fox32news/ Follow FOX 32 Chicago on Instagram: https://www.instagram.com/fox32chicago/ Subscribe to the FOX 32 Chicago newsletter: https://www.fox32chicago.com/newsletters

Style expert David Sanchez and a team of models show off some trendy and elegant outfits to inspire your look for this holiday season. Subscribe to FOX 32 Chicago: https://www.youtube.com/fox32chicago?sub_confirmation=1 Watch FOX 32 Chicago Live: https://www.fox32chicago.com/live FOX 32 Chicago delivers breaking news, live events, investigations, politics, entertainment, business news and local stories from Chicago and across the nation. Watch more FOX 32 Chicago on YouTube: FOX 32 Headlines: https://www.youtube.com/playlist?list=PL2-nR6U1joOT92lWD_QLYoNijiDo9uYaP Good Day Chicago: https://www.youtube.com/playlist?list=PL2-nR6U1joORm02SSjflpEVzL0ydEqeFu Special reports and stories: https://www.youtube.com/playlist?list=PL2-nR6U1joOTGGgDx9B31HcT9IM60Al0- Download the FOX 32 Chicago News app: https://fox32chicago.onelink.me/KNQ9?pid=social&c=youtube&af_web_dp=https%3A%2F%2Fwww.fox32chicago.com%2Fapps Download the FOX 32 Chicago Weather app: https://www.fox32chicago.com/apps Follow FOX 32 Chicago on Facebook: https://www.facebook.com/Fox32Chicago/ Follow FOX 32 Chicago on Twitter: https://twitter.com/fox32news/ Follow FOX 32 Chicago on Instagram: https://www.instagram.com/fox32chicago/ Subscribe to the FOX 32 Chicago newsletter: https://www.fox32chicago.com/newsletters

Fox 32's Mike Caplan is in Libertyville slugging some "sweet and beautiful" drinks at Tala Coffee Roasters. The local business has been expanding for the past two years. They have two other locations in Highwood and Winnetka. Subscribe to FOX 32 Chicago: https://www.youtube.com/fox32chicago?sub_confirmation=1 Watch FOX 32 Chicago Live: https://www.fox32chicago.com/live FOX 32 Chicago delivers breaking news, live events, investigations, politics, entertainment, business news and local stories from Chicago and across the nation. Watch more FOX 32 Chicago on YouTube: FOX 32 Headlines: https://www.youtube.com/playlist?list=PL2-nR6U1joOT92lWD_QLYoNijiDo9uYaP Good Day Chicago: https://www.youtube.com/playlist?list=PL2-nR6U1joORm02SSjflpEVzL0ydEqeFu Special reports and stories: https://www.youtube.com/playlist?list=PL2-nR6U1joOTGGgDx9B31HcT9IM60Al0- Download the FOX 32 Chicago News app: https://fox32chicago.onelink.me/KNQ9?pid=social&c=youtube&af_web_dp=https%3A%2F%2Fwww.fox32chicago.com%2Fapps Download the FOX 32 Chicago Weather app: https://www.fox32chicago.com/apps Follow FOX 32 Chicago on Facebook: https://www.facebook.com/Fox32Chicago/ Follow FOX 32 Chicago on Twitter: https://twitter.com/fox32news/ Follow FOX 32 Chicago on Instagram: https://www.instagram.com/fox32chicago/ Subscribe to the FOX 32 Chicago newsletter: https://www.fox32chicago.com/newsletters

Operation Santa is underway in DuPage County. The Illinois State Police partnered with Walmart for their 18th year of making the holidays a little brighter for elementary school children in the Chicago area. Subscribe to FOX 32 Chicago: https://www.youtube.com/fox32chicago?sub_confirmation=1 Watch FOX 32 Chicago Live: https://www.fox32chicago.com/live FOX 32 Chicago delivers breaking news, live events, investigations, politics, entertainment, business news and local stories from Chicago and across the nation. Watch more FOX 32 Chicago on YouTube: FOX 32 Headlines: https://www.youtube.com/playlist?list=PL2-nR6U1joOT92lWD_QLYoNijiDo9uYaP Good Day Chicago: https://www.youtube.com/playlist?list=PL2-nR6U1joORm02SSjflpEVzL0ydEqeFu Special reports and stories: https://www.youtube.com/playlist?list=PL2-nR6U1joOTGGgDx9B31HcT9IM60Al0- Download the FOX 32 Chicago News app: https://fox32chicago.onelink.me/KNQ9?pid=social&c=youtube&af_web_dp=https%3A%2F%2Fwww.fox32chicago.com%2Fapps Download the FOX 32 Chicago Weather app: https://www.fox32chicago.com/apps Follow FOX 32 Chicago on Facebook: https://www.facebook.com/Fox32Chicago/ Follow FOX 32 Chicago on Twitter: https://twitter.com/fox32news/ Follow FOX 32 Chicago on Instagram: https://www.instagram.com/fox32chicago/ Subscribe to the FOX 32 Chicago newsletter: https://www.fox32chicago.com/newsletters

Side hustles are more popular than ever. TEDx keynote speaker and business strategist Jennifer Morilla lays out tips for starting and developing your side hustle. Subscribe to FOX 32 Chicago: https://www.youtube.com/fox32chicago?sub_confirmation=1 Watch FOX 32 Chicago Live: https://www.fox32chicago.com/live FOX 32 Chicago delivers breaking news, live events, investigations, politics, entertainment, business news and local stories from Chicago and across the nation. Watch more FOX 32 Chicago on YouTube: FOX 32 Headlines: https://www.youtube.com/playlist?list=PL2-nR6U1joOT92lWD_QLYoNijiDo9uYaP Good Day Chicago: https://www.youtube.com/playlist?list=PL2-nR6U1joORm02SSjflpEVzL0ydEqeFu Special reports and stories: https://www.youtube.com/playlist?list=PL2-nR6U1joOTGGgDx9B31HcT9IM60Al0- Download the FOX 32 Chicago News app: https://fox32chicago.onelink.me/KNQ9?pid=social&c=youtube&af_web_dp=https%3A%2F%2Fwww.fox32chicago.com%2Fapps Download the FOX 32 Chicago Weather app: https://www.fox32chicago.com/apps Follow FOX 32 Chicago on Facebook: https://www.facebook.com/Fox32Chicago/ Follow FOX 32 Chicago on Twitter: https://twitter.com/fox32news/ Follow FOX 32 Chicago on Instagram: https://www.instagram.com/fox32chicago/ Subscribe to the FOX 32 Chicago newsletter: https://www.fox32chicago.com/newsletters

Secretary of State Antony Blinken held an end-of-year news conference Wednesday. He addressed the U.S. response to the Israel-Hamas war, Russia's ongoing invasion of Ukraine, a new U.S. deal to trade an ally of Venezuela's president for several detained Americans and other topics. #news #blinken #israelhamaswar CBS News Streaming Network is the premier 24/7 anchored streaming news service from CBS News and Stations, available free to everyone with access to the Internet. The CBS News Streaming Network is your destination for breaking news, live events and original reporting locally, nationally and around the globe. Launched in November 2014 as CBSN, the CBS News Streaming Network is available live in 91 countries and on 30 digital platforms and apps, as well as on CBSNews.com and Paramount+. Subscribe to the CBS News YouTube channel: https://youtube.com/cbsnews Watch CBS News: https://cbsnews.com/live/ Download the CBS News app: https://cbsnews.com/mobile/ Follow CBS News on Instagram: https://instagram.com/cbsnews/ Like CBS News on Facebook: https://facebook.com/cbsnews Follow CBS News on Twitter: https://twitter.com/cbsnews Subscribe to our newsletters: https://cbsnews.com/newsletters/ Try Paramount+ free: https://paramountplus.com/?ftag=PPM-05-10aeh8h For video licensing inquiries, contact: licensing@veritone.com

The U.S. will release Alex Nain Saab Morán, a close ally of Venezuelan President Nicolás Maduro, in exchange for at least eight Americans held in Venezuela. CBS News senior White House and political correspondent Ed O'Keefe has more on the deal secured by the Biden administration. CBS News Streaming Network is the premier 24/7 anchored streaming news service from CBS News and Stations, available free to everyone with access to the Internet. The CBS News Streaming Network is your destination for breaking news, live events and original reporting locally, nationally and around the globe. Launched in November 2014 as CBSN, the CBS News Streaming Network is available live in 91 countries and on 30 digital platforms and apps, as well as on CBSNews.com and Paramount+. Subscribe to the CBS News YouTube channel: https://youtube.com/cbsnews Watch CBS News: https://cbsn.ws/1PlLpZ7c Download the CBS News app: https://cbsn.ws/1Xb1WC8 Follow CBS News on Instagram: https://www.instagram.com/cbsnews/ Like CBS News on Facebook: https://facebook.com/cbsnews Follow CBS News on Twitter: https://twitter.com/cbsnews Subscribe to our newsletters: https://cbsn.ws/1RqHw7T Try Paramount+ free: https://bit.ly/2OiW1kZ For video licensing inquiries, contact: licensing@veritone.com

Despite warnings that Ukraine will run out of money for its fight against Russia by the end of the month, lawmakers in Congress won't vote on any aid package until January 2024. Juliegrace Brufke, a Capitol Hill reporter for Axios, joined CBS News to discuss what happens now. CBS News Streaming Network is the premier 24/7 anchored streaming news service from CBS News and Stations, available free to everyone with access to the Internet. The CBS News Streaming Network is your destination for breaking news, live events and original reporting locally, nationally and around the globe. Launched in November 2014 as CBSN, the CBS News Streaming Network is available live in 91 countries and on 30 digital platforms and apps, as well as on CBSNews.com and Paramount+. Subscribe to the CBS News YouTube channel: https://youtube.com/cbsnews Watch CBS News: https://cbsn.ws/1PlLpZ7c Download the CBS News app: https://cbsn.ws/1Xb1WC8 Follow CBS News on Instagram: https://www.instagram.com/cbsnews/ Like CBS News on Facebook: https://facebook.com/cbsnews Follow CBS News on Twitter: https://twitter.com/cbsnews Subscribe to our newsletters: https://cbsn.ws/1RqHw7T Try Paramount+ free: https://bit.ly/2OiW1kZ For video licensing inquiries, contact: licensing@veritone.com