Originally Posted by yosithezet
So besides the miles, price and refund options is there any other differentiation between buckets? Do they refer to what range of seats you can get? (Assuming economy class for instance but different buckets)
There usually isn't a difference between fare classes within a given "class of service" (i.e., First, Business, Coach). Some airlines (NW, CO, UA, etc.) now designate some seats near the front of coach as "premium" or "select" seating and give those seats only to elites and full-fare customers. A very few airlines (like AC) also now offer cheap fare classes (AC calls them "tango" fares) that don't allow you to select a seat in advance.
I don't think LY subscribes to either of those models, however. AFAIK every LY coach pax regardless of fare class has access to the same coach seats on the plane. There may be some discrimination based on Matmid status, but I don't think LY discriminates based on fare class. Perhaps somebody like apirchik with more recent LY experience can elaborate, however.