A List of Cheap Airlines. This list focuses on cheap, low cost, discount, no-frills, budget airlines. While air travel was once seen as a symbol of luxury and wealth, today it is the preferred way to travel great distances by nearly everyone. To answer the call, many airline companies have formed discount divisions for the passenger who's on a budget. It's a small wonder why planes are so popular, when one considers the cost of gasoline, and the fact that airplanes are still the safest way to travel. While commercial space flight is currently in the works, the plane will continue to be the method-of-travel of choice for many decades to come.