Deregulation by the US federal government in the mid-1970s spurred the growth of new carriers which led to competition, lower fares, and more people traveling by air, says Jan Brueckner, professor of economics at University of California, Irvine.

For the full story, please visit http://www.csmonitor.com/Business/2017/0324/Virgin-America-to-disappear-What-that-says-about-airline-travel.