High ticket prices meant spending school breaks far from home. After Tony Fernandes grew up he did something about that, and created a new industry in Asia.
Discount airlines in Asia? Ten years ago they barely existed, and in many countries the average consumer couldn't afford to fly anywhere. But now nearly a fifth of the region's airline seats are supplied by low-cost carriers, and the share for domestic flights in some countries is much higher: 34% in Thailand, 49% in Australia and 59% in India. The growth in budget airlines has chopped the region's average short-haul fare by more than half since 2000. That's sparked a boom in travel and tourism throughout the region as affordable tickets and new routes draw tens of millions of extra passengers. Sydney's Centre for Asia Pacific Aviation, which compiles statistics on low-cost carriers, sees the rapid growth accelerating, with budget seats making up half of the region's capacity by 2015.
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