Dublin, Oct. 28, 2022 (GLOBE NEWSWIRE) — The “Low-Cost Airlines Market by Purpose, Destination, Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2016-2030” Report has been added ResearchAndMarkets.com Offer.
The global low-cost airline market was valued at US$155.02 billion in 2016 and is expected to reach US$440.46 billion by 2030, growing at a CAGR of 10.4% from 2022 to 2030.
A low-cost airline is a passenger airline that offers travel services at relatively affordable and competitive prices compared to other airlines (full-service or traditional airline). Low-cost airlines are also known as no-frills airlines, pricefighters, low-cost carriers (LCC), discount airlines, and budget airlines. Popular low-cost airlines include Ryanair, EasyJet, Air Asia and Qantas Airways.
The viability of operating low-cost airlines is attributed to their low-cost model. This low-cost model can combine features such as a low-price strategy, a simple pricing structure, online and direct ticket booking (without additional ground staff and vendors), a secondary airport preference, a point-to-point network, a seating arrangement in one Class, the ticket price must not include additional services (food and beverages), intensive aircraft use, short turnaround time, dense seating arrangement and secondary sources of income (advertising and sales on board).
Low-cost airlines have been growing exponentially around the world in recent years, reflecting the increase in economic activity, the ease of travel, the development of the travel and tourism industry, rapid urbanization, lifestyle changes, and consumer preference for low- Cost service is due to non-stops and frequent service.
In addition, the rise in purchasing power of middle-class households, particularly in developing regions, and high internet penetration combined with e-skills are contributing significantly to the growth of the global low-cost airline market. Factors like volatility…
