Until 2014, Island Air regularly jockeyed for low fares against Hawaiian, the largest carrier in the region, Go! That same carrier is also bailing out Island Air passengers as it ceases operations. On Thursday, just before Island Air's demise was announced, Hawaiian quickly swept in and volunteered to honor any outstanding tickets. It's still not clear what will happen to Island Air's fleet of regional aircraft. As a strong competitor to Hawaiian, Island Air served the important role of keeping fares stable and preventing runaway pricing.

Source: Forbes November 11, 2017 15:00 UTC