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Joining other major carriers including Delta and United, American Airlines has announced that it too will soon begin offering low, no-frills "basic economy" fares on certain flights. 

Customers can expect to start seeing the new rates—which will be cheaper than those for any other seats in the cabin—in February, when the company will introduce them in 10 cities, with more locations expected to be added soon. 

As with these types of budget rates elsewhere, the catch is that the no-frills part of the deal is no joke. With American's basic economy fares, you can't pick out your own seat, you're not eligible for any upgrades, and you can only carry on one bag that will fit underneath the seats—no overhead bin storage for you. Additionally, you won't be able to get a refund or make any changes to your ticket, and you'll be among the last to board the plane.

You're lucky they don't stash you in the cargo hold. 

To get any of the main cabin perks and services, basic economy customers will have to pay a fee for each. 



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