The new report now available on ASDReports, provides detailed market analysis, information and insights. The financial crisis caused an economic slowdown which forced customers to seek out cheaper means of travel. Consequently, low-cost carriers recorded growth during the review period. The growing popularity of LCCs has led many full-service airlines to launch subsidiaries offering flight options with limited services. For example, China Eastern Airlines announced the launch of China United Airlines in July 2014 and in July 2013; Air Canada launched its LCC, Air Canada Rogue.
Additional report highlights
Air transport has an important role in providing global connectivity. According to the World Travel and Tourism Council (WTTC), 51% of international tourists relied on air transport in 2011.
According to the International Air Transport Association (IATA), in developing nations, air transport contributed US$490.0 billion to economic activity and sustained 35.9 million jobs. IATA projects that by 2030, the contribution of air transport to global economic activity will reach US$6.9 trillion, maintaining 82.0 million jobs.
The financial crisis caused an economic slowdown which forced customers to seek out cheaper means of travel. Consequently, low-cost carriers (LCCs) recorded growth during the review period.
According to Eurocontrol, the European organization for the safety of air navigation, LCCs accounted for 25% of the European aviation market?s average daily flights in 2012. The average daily flights for LCCs increased at a rate of over 1% in 2012, while for full-service airlines it decreased by over 4%.
LCCs are aiming to provide specialized and personal services to customers in order to raise standards of service. In August 2013, Singapore-based Scoot launched a new concept, ScootinSilence, on its long-haul flights. ScootinSilence provides passengers who pay extra the option of extra legroom in a child-free zone.
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Source: ASDReports - Market Research
Date: Nov 7, 2014