Airline Red Way, launched at the start of the summer, is already going under

Ever since Spirit Airlines stormed the travel market with its "no frills" cheap flights, many other airlines have tried to enter in its wake.

While Frontier, American, and JetBlue are a few of the companies that have succeeded in establishing a positive reputation around their low fare options (depending on who you ask, that is), not all similar ventures have been so lucky.

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Red Way, a budget "virtual airline" launched in Lincoln, Neb., is shuttering after only two months of operation, according to The Points Guy. The company announced the news via a post on its official Facebook page on Aug. 23, saying that "it is with a heavy heart that we announce the decision to cease operations," with its final day being Aug 31.

The announcement explains that all flights booked after Aug. 31 would be canceled and refunded in full, with refunds expected "by the end of the week."

Red Way's attempt to support Lincoln Airport was much-needed, as United Airlines is the only other airline that flies in and out of it, only going to Chicago, Denver and Houston. Lincoln's air service options were hit hard during the covid pandemic due to pilot shortages, making travel extremely difficult for those who live and work in the area.

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Red Way was launched thanks to a $3 million revenue guarantee from a covid-19 relief fund, but depleted the funds quickly, according to reporting from the Lincoln Journal Star.

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