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For companies that offer regional flights or budget options the answer is yes, although that usually has to do with the size of the plane, but companies that offer longer flights that require larger planes would be unable to sustain them using just economy seats. This boils down to simple economics, economy seats are generally there to get more people flying, but there isn't much money in it. The real money comes from business flyers. For more information check out this fantastic video that talks about the economics of flying.