LONDON, Dec. 5, 2016 /PRNewswire/ --
In terms of seat capacity, the global low cost carrier (LCC) industry is expanding. According to the International Air Transport Association (IATA), LCCs hold 26% share in Asia-Pacific, 54% in Southeast Asia, and 26% globally. More than 12 airlines started operating in Asia-Pacific during the period 2005-2015. The fast growth in Asia-Pacific can be attributed to the fact that it has some of the fastest-growing economies including China and India
- The US is the largest market in the world in terms of revenues and seats sold. In 2015, its revenues stood at US$31.6 billion and the number of passengers carried totaled 216.6 million. Spain and the UK held second and third position in terms of seats sold, while Japan was the fastest-growing market at a CAGR of 33.7% during the historic period (2011-2015). Switzerland (90.6%) had the highest load factor in 2015, followed by France (90.5%) and Mexico (89.9%). In terms of revenue per passenger, New Zealand was the largest market while China was the fastest-growing market at a CAGR of 3.7% during the historic period
- LCCs are increasingly gaining a foothold in the global aviation industry and their growth is not driven only by leisure customers. Today, LCCs are also adding direct flights to business destinations. For instance, Wizz Air and Ryanair run flights from London to Vilnius, the economic hub of Lithuania and one of the biggest financial centers of the Baltic States. Europe's two leading LCCs in terms of seats sold - Ryanair and Easyjet - are also making profits. In 2015, Ryanair (101.4 million) sold more seats than IAG (95 million), which owns Iberia, British Airways, Vueling, and Aer Lingus
- LCCs in general do not add anything extra, which increases the cost; however, the trend is changing. For instance, flydubai offers free meals on flights from Prague to Dubai
- LCCs usually operate on short-haul routes and do not fly on long-haul networks because of the additional expense incurred in flying over six hours. However, this is changing as airlines such as Norwegian and Scoot are able to operate on long-haul routes as they are using more fuel-efficient aircraft such as the Dreamliner 787. Norwegian runs flights on transatlantic routes.
Canadean's report - The Global Low-Cost Airline Market to 2020 - provides detailed information on global low-cost airlines industry, analyzing market data and providing insights.
What else does this report offer?
- Historic and forecast revenue of global low-cost airlines market covering 40 countries
- Detailed region-wise (Americas, Asia-Pacific, Europe, Middle East and Africa) of low-cost airlines' key performance indicators such as the number of seats available and seats sold, load factor, average revenue per passenger, total revenues, revenue generating passenger kilometers and passenger kilometers available for the historic (2011-2015) and forecast (2016-2020) periods
- Brief analysis of global low-cost airlines market and the present scenario
- Detailed analysis of the markets trends in key low-cost airlines' markets
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