Southwest Airlines' pending deal to take over 14 slots previously held by ATA Airlines at LaGuardia Airport will likely reshape air service, fares and capacity around New York. Some experts say the move, which must be approved by the U.S. Bankruptcy Court and the FAA, may be copied by other low-cost carriers. "There are undoubtedly others that are looking to move opportunistically. As in other industries, times of market turmoil often provide financially strong firms with opportunities to acquire assets at distressed prices," said Darin Lee, a principal at LECG. "I suspect we'll see additional similar moves over the next year."

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