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North Asia is set to capitalize on its massive potential for low cost airline growth, according to
Asia Pacific advisory firm, The Centre for Asia Pacific Aviation.
"We are at the trigger point of what should be an explosion in low cost air travel across the north of the region,"
said Mr. Peter Harbison, Managing Director.
The Centre's upbeat expectation for LCC (Low Cost Carrier) development in North Asia comes as the New Kitakyushu Airport, Japan, prepares to host the Second
Annual North Asia Low Cost Airline Symposium on August 4-5, 2005.
"We think conditions are ripe for (LCC) development in North Asia. There are 500 Million consumers within a three-hour flight radius in North Asia that can afford air
travel. Momentum in LCC and new airline entry in North Asia is building rapidly, with China's first private carrier, Okay Airways, taking to the skies in March and four other
new private entrants recently licensed by the CAAC," added Mr. Harbison.
At least 12 new carriers are expected over the next 12 months in Macau, China, Hong Kong, South Korea and Japan.
Mr. Harbison added that, "These new carriers, like their counterparts launched last year, will have profound effects on aviation development in the region over the next
few years. The big issue: how fast governments are prepared to liberalize."
The Symposium will also include an exhibition for suppliers and airports. The program focuses on:
- LCC and start-up airline developments across North Asia;
- Airport infrastructure and how airport operators are adapting to the LCC model;
- Opportunities and growth potential of LCCs on airports, tourism and aviation suppliers in North Asia.
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