JetBlue is the latest airline to sell basic economy - here's what the most restrictive fare includes

• JetBlue will sell a new basic economy fare, the airline said on Tuesday.
• The fare, called Blue Basic, earns fewer frequent flyer miles, doesn't allow any changes or cancellations, boards last, and charges extra for seat assignments in advance.
• American, Delta, and United all offer basic economy, and say the restrictive fare class helps them compete with low-cost carriers.
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JetBlue will begin offering basic economy fares to passengers, the airline announced Tuesday.

Basic economy fares have proliferated in recent years as traditional airlines have sought to compete with ultra-low-cost-carriers, which undercut legacy carriers on fare, but charge extra for everything from carry-on bags and drinks to assigned seats.

The new "Blue Basic" fare doesn't allow any changes or cancellations, including same-day changes or standbys, which most other JetBlue fares allow for a fee. Although they do allow a checked bag, there's a fee for seat assignments before check-in, and passengers with the basic fare board the plane last, meaning there's a chance there won't be room left in the overhead bins.

Additionally, customers who book Blue Basic fares will only earn two frequent flyer points per dollar spent on the fare. Other JetBlue fare types earn six points per dollar.

On-board services, including snacks and drinks, will still be included.

In many cases as basic economy fares are introduced, fares have not actually been substantially lower. Instead, they've helped airlines increase ancillary revenue as customers purchase things like seat assignments, or choose to purchase a standard fare instead.

On a page announcing the changes, JetBlue said the fares would begin rolling out on Tuesday.