Southeast Asian Carriers Poised for Solid Growth
AirAsia is the largest LCC group operating in Southeast Asia, with a current in-service fleet of 172 aircraft. (Photo: Gabriele Stoia)
AirAsia is the largest LCC group operating in Southeast Asia, with a current in-service fleet of 172 aircraft. (Photo: Gabriele Stoia)

Southeast Asia benefits from having one of the fastest growing economies in the world, driven by the expansion of the trade and tourism sectors. While a rising middle class and higher discretionary incomes have led to an increase in demand for air travel in the region, deregulation and liberalization of the airline industry has allowed the Association of South East Asian Nations (ASEAN) carriers to restructure both operationally and financially to increase growth and competitiveness. Many network carriers are aggressively expanding into new markets, launching subsidiaries and developing partnerships while governments and airport authorities are enlarging their infrastructure to meet demand.