Despite record travel, low-cost carriers are hemorrhaging money and are trying new strategies to stop the bleed.

The loungers resemble Spirit's "Big Front Seat," which is similar to many mainline carriers' domestic first class but without many of the perks.

Starting in September, Frontier plans to start ripping out the first two rows of its three-by-three economy seats to add four first-class seats, in a two-by-two configuration. The