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News Flash: Low-cost carriers booming in Asian market
SINGAPORE: Budget airlines are experiencing outstanding growth in Asia, accounting for a quarter of the regionâs seats in the market
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INGAPORE: Budget airlines are experiencing outstanding growth in Asia, accounting for a quarter of the region's seats in the market.
'The low-cost carrier segment is the poster-child turned bad boy. Since arriving in Southeast Asia in 2002, budget airlines have grown too big and too fast,' Timothy Ross, managing director of equity research at Credit Suisse, said as quoted by CNBC.
The condition has since become conducive, with several airlines expanding their business in the budget aviation market in the region.
Budget flying is now becoming entrenched in Asia despite stiffer competition, in which low-cost carriers outdo each other by presenting their best deals.
But with the emergence of the middle-class segment, China and Indonesia, respectively, are considered among countries with the most potential for the development of low-cost carriers.
