While U.S. airport passenger traffic was 1.467 billion arrivals (the largest in the world) and Asia's was 1.402 billion in 2009, Asia is expected to become the largest aviation market in the next few years.
By 2030, Asia's passenger traffic is expected to exceed 4.88 billion, in contrast to 2.367 billion projected for the U.S., according to IATA's Airport Development Supplement published in 2012.
Southeast Asia already has a high LCC penetration rate -- the LCC capacity share of total seats is approximately 56-57% -- but the percentage for North Asia is stunningly low at 9%.
"That's a 91% potential upside for us," says Jetstar's Alistair Hartley.
No wonder LCCs are excited.