There is no doubt that the low-cost business model has become a transformative force in Asia. The demand for low-cost air transportation is huge in Asia, but the development of LCCs tends to lag behind the region’s overall aviation development. Nevertheless, LCCs are now in full-bloom and flourishing in various regions across Asia, and, naturally, creating an intense competition among the budget carriers in the region, particularly in Southeast Asia. The operating environment is increasingly complex, competitive and interconnected. But how is the surge of LCCs affecting individual Asian markets? We take a look at the prospects of Asian LCCs, focusing on a particular LCC market – South Korea and its leading budget carrier – Jeju Air.
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