The Aviation sector in Southeast Asia (SEA), especially for booming economies like India, Singapore, Indonesia, Thailand, Malaysia, Vietnam, Philippines, has witnessed a huge surge in Low-Cost Carriers (LCCs). They have emerged as the core lifeline for all these tourism-dominated hubs.
The SEA Aviation Market is poised to touch a staggering USD 43.57 Bn in 2028 from USD 34.40 Bn in 2023. Thus, accounting for an overall surge of 4.84% CAGR for the estimated time frame of five years (2023-2028). Reportedly, the global low-cost airline industry is all set to reach USD 440.46 Bn by 2030 at a CAGR of 10.4%.
LCC Landscape And Success Pointers In Asia Pacific
Transition phase from leisure traffic operators to corporate class upgrade: The low-cost and economic class fleets in recent years have been transformed from just regional air carriers to long-distance corporate class carriers specifically targeting elite business clients.
Multiple destinations covered at an economical budget: Gone are the days when Low Budget Carriers were only confined to the regional boundaries due to low fuel load, lesser passenger safety, entertainment constraints, and more. Today, with the surge in demand for popular Asian tourist hubs, low-cost carriers are all set to expand their air routes.
Thailand is one of the biggest tourist destinations in the world. Due to its favorable location in the South China Sea, it connects Southeast Asia with Europe, Asia-Pacific, and the Middle East. Making it a booming Domestic and International LCC Market.
Thai Lion Mentari Co. Ltd or Thai Lion Air is one of the most popular Budget-friendly Airlines operating in Thailand since its inception in 2013. Thai Lion Air has built its reputation for superior in-flight services at the best possible prices. Born from the alliance of Thai Partners, an associate of Indonesia’s Lion Air, with the slogan of ‘Freedom to Fly’, Thai Lion Air serves more than 20 million passengers annually. Today, Thai Lion Air is the preferred airline carrier to some of the top tourist destinations across Southeast Asia.
As a budget-friendly carrier, Thai Lion Air offers one of the best legroom, comfort seats, and in-flight infotainment systems for its passengers. It is operational across all major Asia Pacific destinations with one of the highest operational traffic from Thailand. It is also one of the most trusted airline brands for daily flights from China and Japan. Thai Lion Air has a large fleet of widebody aircraft with the addition of new ones in 2023 for China, India, and more.
They received the honorable accolade of Best Low-Cost Carrier Thailand 2023 from World Business Outlook.