Iijm 2013 12 20 023

IPASJ International Journal of Management (IIJM)
A Publisher for Research Motivation........
Volume 1, Issue 6, December 2013
Web Site: http://www.ipasj.org/IIJM/IIJM.htm Email: editoriijm@ipasj.org ISSN 2321-645X
A study on changing consumer preference and satisfaction levels towards the Budget Airline, Tiger Airways and Air Asia; Competitive Prospective
Naganathan Venkatesh
Research Scholar NITTTR, India
ABSTRACT
In the international context, Air transport has played a pivotal role in global social and economic growth. The entry of low-cost carriers (Budget Airlines) had made a revolution in the Airline Industry (AI), with a different ways of operations compare to the traditional airline. In today's competitive market scenario, organizations have to understand the importance of building and efficiently manage its customers; since customers expectation are increasing due to many airlines competing with one another by giving better offers and services. Todays AI has to focus not only at delivery of the service to the customers, but should also focus on satisfying the customers with the quality service at competitive price. To keep the customer satisfaction the AI need to be more innovative and come up with the necessary changes on the basis of customers perceptions. In this regard, the present study has been undertaken to find the passengers customer satisfaction regarding the service quality in budget Airlines. This paper will focus on the Tiger Airways and AirAsia as the two key budget airlines and I will do the comparison of their service quality through questionnaires, feedbacks and through personal interviews and the collected data will be consolidated to give a report on both the airlines customer satisfaction and their preferences. Further I will just highlight on the comparison of public (Government owned or Full service carriers (FSC)) and private (LCCs) with respect to passengers service on a global perspective. Finally recommendations will be given on the basis of the research outcome.
Keywords: Airline Industry, Low Cost Carrier (Budget Airlines), Full Service Carriers (Traditional Airlines)
JEL Classification: C42, D11, D12, M3, L93
1. INTRODUCTION
In Aviation industry there are different types of airlines are operated; they are differentiated by LCC, FSC, Cargo flights, Charter airlines, general aviation etc. LCC also called as budget airline, is a carrier which provides services at low cost with fewer comforts compare to the traditional airlines (FSC). LCC will generally charge for seat preference, food & beverages, baggages etc. Let me give a brief view of LCC when it started and what is the present trend in this format of operations. In the beginning of 1970s Southwest Airlines in United States of America has introduced the low cost business model. This phenomenon has widely spread across the world from 1990s. In Europe, Ryanair was the first airline who adopted this low-cost model for its operation in 1992 (Malighetti P, et al. 2009). Presently, more than 216 low-cost carriers are operating across the world (Airlines Inform, nd). From past many years, the low-cost carriers in Asia are growing rapidly with consuming the market share of FSC. Andrew Lobbenberg, RBS Aviation Analyst, explained, The low-cost business model has performed well through the recession, and that makes sense because business and leisure travellers are seeking value during periods of recession. While the sector has had its fair share of financial casualties over the years, impressive operating margin for many carriers testify to the robustness of the model. (Dunn, 2011, para. 6). The overall market in Asia is also growing much faster than other regions. The total Asian passenger market is expected to grow at a rate of about 10% per annum, reaching about 900 million passengers (excluding China) by 2020. As LCCs continue to increase their share of this market, by about two percentage points per annum, they are poised to grow at rate of about 20% per annum. (Airlineleader, 2012)
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Even though the LCC market in Asia is comparatively smaller by global standards, their growth profile is very intense. This research will shed more light on customer satisfaction of Tiger Airways and AirAsia, two major budget airline operators in Asia region. 1.2 Problem Background AI is growing at a fast pace on one hand and other side the competition faced by the airlines to sustain in the market is getting difficult with the increase in fuel cost, airport taxes and along with more number of LCC want to venture into this business makes it more difficult to run the business for the organizations. Now customers want best service at affordable rate with higher service quality; so issue comes up with it is LCC need to compete with FSC. So the uphill tasks for LCC are huge; so to maintain the quality and better service and keep their ticket cost low to attract customers is not an easy task they have in their hand. In Asia the two key players Tiger Airways and AirAsia, are competing with one another on a price war and attract larger customer so that they can capture larger market share for themselves. Now the key is with customers who are driving the aviation industry, so the airlines need to focus in their low price strategy to attract the passengers. Tiger airways and AirAsia are competitive with one another and every time they introduce new strategies and to compete and retain their present passengers numbers and make sure to offer better deals and offers and get more new customers so their passengers capacity is increased and their overall rating is boosted as well; in spite of that passengers are always on the lookout for cheaper and better service providers and they are switching airlines which is seen quite increasing day by day. Airlines cant able to retain their passengers who fly with them will always fly with them in near future as well; so more you provide better service the more the passenger will retain with your airlines. It is now survival of the fittest is the slogan in the LCC. Earlier days passengers just look the airlines brand and didnt have much options to select different airlines; but now competition is so tense that the airlines have to make sure the service provided to the passengers are satisfied at all levels; it starts from the ticket booking, to arrive at the airport where how well you are treated and on board the aircraft how the service is given by the crew is also counted to make the passengers satisfied. Todays generation passengers become very choosy in selection of airlines because they know how to spend their hard-earned money and they plan their trip, by exploring all the possibilities to get the best deal and they want to make sure every penny send is worth it and the get the best. If any airlines need to survive in todays global competitive environment they need to get their act together with best program and see to that, what is expected from the passengers perspective and their experience? To achieve the maximum passengers number for any airlines it is vital that they constantly do get feedbacks from them and act on it if the suggestion are good enough and it can be within affordable limits by the airline then they have to go with it; a saying goes Customer is the King so airlines have to satisfy them to keep them on board in their airlines whenever they want to fly they prefer your airlines over your competitors. This research intention is to find the best paramount reasons in traveller accommodation standards with respect to service quality and safety standards, it will explore further to identify their present service standards and quality of service they are providing so far from the data collected in the survey and we can analysis the positive factor and the negative factors suggested by the respondents which will be the more useful for the airlines to take appropriate measures to improve on their service standards and can know how the passengers feel about their service quality and what is their satisfaction levels are towards the budget airlines. 1.3 Research Objective The major aim of this research is to find out the customer satisfaction level of Tiger Airways and AirAsia, two major budget airline operators in Asia. This research also aims to answer the safety and quality concerns of airline passengers. To achieve an insight into the perception of customers (Passengers) about the reality of LCCs operations compared with Full service airline model (FSC) will be looked into it. 1.4 Research Question and Issues 1. To uncover the fact that, is it worth travelling in LCC? 2. To measure the service quality and safety offered by LCC? 3. To find out the key factor responsible for the sustained growth and success of Low cost carriers? 1.5 Limitation of the Study
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My research is more on questionnaires and feedback collected from the airline passengers who mostly travel in LCC at the Changi Airport Singapore. While collecting feedback from the passengers sometime they dont want to fill in due to their identity will be relived, so they do fear and some time they are in rush to catch the flight so they are not much interested in filling the questioners, sometime security personnel at the airport do ask query about why Im doing the survey and whether I got any permission from the airport authority to conduct the survey and soon. Apart from these minor issues I didnt had any other problems in getting the feedback from the passengers. I have limited myself to 300 respondents in total.
1. LITERATURE REVIEW
The aviation industry has been identified as one of the more intangible service industries (Clemes et al., 2008) and plays an important role in the global economy (Tiernan et al., 2008). The low cost business model is said to have started by Southwest Airlines in the US in the early 1970s (Rhoades, 2006). The success of this business model has then been the inspiration to other low cost airlines around the world, such as Ryan Air and EasyJet in the UK, Air Asia, Jetstar Airways, Cebu Pacific, and Pegasus Airlines in Asia, as well as Virgin Blue, Qantas Jetstar, and Freedom Air in Oceania. The emergence of low cost airlines in South-East Asia began in early 2000s. As earlier mentioned, the development was spurred by the deregulation and liberalization of the aviation industry in the region (Saha and Theingi, 2009). While the traditional full service airlines business model is based on differentiation strategy (Tiernan et al., 2008), the low cost airlines focused on price leadership (Tiernan et al., 2008; Wen and Yeh, 2010). Another research study involving Ryanair, Aer Lingus, Air Asia and Malaysia Airlines named Passengers Perceptions of Low Cost Airlines and Full Service Carriers by John F. OConnell and George Williams has been published in 23 March 2005. This paper attempts to provide an overview of direct competition between full service airlines and no-frills carriers is intensifying across the world. US and European full service airlines have lost a significant proportion of their passengers to low cost carriers, the experience now being repeated in the domestic markets of Asia. (John F. OConnell, George Williams, 2005). Airasia is a low cost carrier service company that is based on being the lowest cost producer in the market. They are the largest LCC in the region. The main operating cost of being an airline is the labour cost, plane cost and fuel cost. They operate with no union staff and at low cost countries, giving them an advantage compare to other airlines. Their fuel cost is hedge but fuel is a common cost for all airlines, therefore it will not be as advantage for them. Lastly, they buy only one make of aircraft to reduce maintenance cost and purchase cost as they buy in large quantity. (LLI Research paper, 2012) Expansion at Tigerair Singapore in the works, research report from DBS Group has indicated that; Given that Tigerair Singapore has been able to maintain strong load factors in excess of 84% despite a 15% growth in ASK in FY13, management feels that there is further room to grow Singapore operations. Of the 10 new aircraft scheduled for delivery in FY14, at least 6 will be added to the Tigerair Singapore fleet, which currently has 20 aircraft. Frequency increases are planned for 9 cities from May 2013 onwards, and new destinations like Denpasar, Yogyakarta have been added in recent months, with Bandung set to be added in August 2013. (DBS Group Research, 2013) Recent economic slowdown has made the industry to think for the future growth and how to sustain in the long run. Around the world LCCs and full-service carriers are planning to either merge or dividing their routes and cut short the price and maximum utilize the aircraft accordingly to its size it can accommodate the passengers, example use small aircraft for short travel and long-haul aircrafts for longer destination with full passenger load rather than running with 50% of the passenger on board. When we look into the statistics and with the present global scenario the LCCs are doing better in terms of ticket bookings compare to the FSC, with this in mind airlines industry have to work on their strategy and make full use of LCCs model to create a brand of their own and add some unique features that might attract the passenger to keep taking their flights over the competitors, but remember passenger are very smart now a days they need cheaper fare as well better service quality whether they travel in LCCs or FSC. LCCs need to focus on travellers preference and they also need to create their own brand; since it is not just the low fares attract passenger for LCCs nowadays, passengers are looking beyond fares, the added comfort levels, better service quality with respect to keep up the timing of arrival and departure, proper quality of food served to the passengers on board as well good
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quality beverages along with it, since when passenger is ready to pay then you need to provide what they want. Further moving down create some personalized services for elderly people, kids and soon so you can attract all the segments of passengers. According to Reuters, six of the worlds largest airlines by market capitalization are based in Asia, namely Air China, Singapore Airlines, China Southern, ANA, China Eastern and Cathay Pacific. (Singapore Business News, 2013). So on looking into the future growth Singapore can be the leading player attracting more LCCs to fly from Singapore to the rest of the world.
3: RESEARCH DESIGN AND METHODOLOGY

Every research project is based on certain methodology that is a way to systematically define and solve problems and attain its objectives. This is a crucial guideline and lead to a concluding outcome of any research project through marketing observation, data collection and data analysis. This study adopts descriptive research and exploratory research by using primary data and secondary data as the research methodology. Research study proposes the research plan for data collection and analysis to be undertaken by positivistic approach, and develops the survey method and questionnaire design. The data used for supporting the analysis in this section is from a practical survey of the passengers from Changi Airport, Singapore who fly in LCCs especially the Tiger Airways and AirAsia will be collected. A total of 300 respondents will be taken into account for their view on the customer satisfaction level of these two airlines. The survey was conducted from May 2013 to July 2013 at the airport in person. Questionaries were prepared in such a way that ethical issues are taken into account so that no issues come over at the later stage. Most of questions are open-ended, multiple-choice and close ended. The set of questionnaires were designed to know the customer perception on LCCs mainly Tiger airways and AirAsia. My survey is conducted by this research design approach as stated by Zikmund in 2003. Table 1: Type of Research Method
4: RESEARCH RESULTS AND DATA ANALYSIS

4.1 Data Analysis and Interpretation I have taken for this survey the key population/ respondents are the passengers traveling in LCCs (AirAsia and Tiger Airways) from the various walks of life and professionals who have been travelling in LCCs for their Business, pleasure or personnel trips. Survey Questionaries 1. What is your gender? I have taken a total of 300 respondents to collect the information through my survey conducted at Changi airport, form the survey it is found that a total 165 Men and 135 Women have participated and gave their feedback on the LCCs. The
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responses were very good and were valuable to put to gather and consolidate my research findings. 2. What age group do you belong to? Out of the total of 300 respondents who participated in the survey the overall age group especially fall under the 64 age group were around 85% of the respondents. Almost 18-29 age groups saw 31%, 30-49 age groups was 32% and 50-64 age group saw 22% and the rest 15% were above the age group of 65. From the above it seems mostly 18 to 49 years age group people trend to travel more in LCCs and they prefer to take it for holidays with their friends and loved ones. 3. What is your race? Overall number of passengers travel from Singapore are mainly chinese race with 56% and next followed by Indian 20%, Malaysia 15% and the rest are very minimum in numbers. Key reason may be the population down here in Singapore is majority or off Chinese origin and the local prefer to take LCCs for the shorter trips around Asia. And also only the tourist who transit to the nearby Asian countries take the LCCs so their numbers are less compare to the other races. 4. What is the highest qualification you have completed? The respondents were more under the Diploma / Higher Diploma category with 52% compare to other levels of qualifications. Degree level come with next highest score of 22%, followed by High school 12% and the rest Masters degree just 8% and finally Doctoral Degree is merely 4% only. The data showed that most of people are educated. 5. What is your occupation? Highest respondents whose occupations were Executive/Manager and Businessmen which took 20% each, followed by Professional/Technical 16%, Students 14% and Teacher/Professor at 10% and the rest were less in numbers. 6. What is your total annual income? The major income level falls under the category of $50,000 to $59,000 with 26% of the respondents are getting as their annual income, followed with $40,000-$49,999 category with 21% and the rest as shown in the graph. Interesting factor to look in is the $100,000 and above category has 4% which is good sign that shows the household income is increased in todays trend. There is no doubt that income is an important factor influencing the consumption of customers. On looking the figures it is clear that it not the matter of what is your income level that you select LCCs or full service carriers; trend has changed now in the customer perception. If good service I get at less cost why I do spent more is the catch of the customers. 7. Which airline is your favourite to fly? This is the most interesting part of the questioner were the respondents choice are divided accordingly to their choice of preference and accordingly they fill the remaining portion of the survey on which airlines they prefer. In some cases respondents have opted for both airlines since they fly in both. So I have taken into account the respondents views on their basis of selection and the rest of the questions statistics was prepared accordingly, it was a real difficult task to calculate the average and workout the figures so that I can get a clear picture of the expectation of the passengers accordingly. Out of the total 300 respondents AirAsia got 41% as favourite airlines followed by Tiger Airways 33% as favourite airlines and for both airlines it was 26% as favourite. With the above data it seems people choice is bit higher with AirAsia with 8% higher than Tiger airways. 8. What is your main purpose in taking this trip? The respondent mostly selected the Pleasure / Personnel as their choice with 86% and Business 14%. LCCs are mostly preferred for holidays since the fares are much cheaper compare to the traditional airlines. 9. How often do you fly on LCCs (Budget) airlines? This was an interesting question to see how often they fly LCCs airlines so that we can get a feel of who many prefer to travel by LCCs and how frequent they travel and the response was good enough. At least once per year are less people travel which got the score of 36%, 6 to 10 times per year with 27%, Once per month 19% and 2 to 3 times per month with 11% and followed by Once per week or more with 3%; the statistic shows a very bright future for LCCs since the number of passengers are growing in numbers and they are taking the flights quite often, numbers are increasing on a general trend.
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10. Please rate your experience in Airlines website when making travel arrangements for this flight a) Total time required to complete the reservation More than 50% of the respondents favour that it was best, with scores of Tiger Airways at 62% said it was the best and AirAsia with 53% and both airlines in general also got 50% saying it is among the best. Overall when we see the statistics among the worst and below average as got 5-6% on an overall basis whereas Average to above average category 35-40% has scored well for all the three options. So overall the passengers are quite happy with the time to complete the reservation. b) Ease of accessing the flight information More than 64% overall of the respondents favour that it was best, with scores of Tiger Airways at a higher level of satisfaction at 73% said it was the best and AirAsia with 64% and both airlines in general also got 55% saying it is among the best. Overall when we see the statistics among the worst and below average as got 5-6% on an overall basis whereas Average to above average category roughly 30-40% has scored well for all the three options. So overall the passengers are quite happy with the flight information provided by both the airlines. c) Availability of customer service / help line if any query A total of 58% of the respondents favour that it was best, with scores of AirAsia at a higher level of satisfaction at 64% said it was the best and followed by Tiger Airways with 62% and both airlines in general also got 50% saying it is among the best. Overall when we see the statistics among the worst and below average as got 5-6% on an overall basis whereas Average to above average category roughly 30-40% has scored well for all the three options. So overall the passengers are happy with the customer service, but it needs improvement since on an average it is only 58% satisfied. So the airlines need to improve on their customer service and help line in the near future to retain their passengers. d) Ease of accessing the fare according to the date of travel specified Overall the response was very positive; a total average of 74% of the respondents favour that it was among the best, with scores of Tiger Airways at a higher level of satisfaction at 80% said it was the best and followed by AirAsia with 72% and both airlines in general also got 70% saying it is among the best. Overall when we see the statistics among the worst and below average as got 5-6% on an overall basis whereas Average to above average category roughly 15-20% has scored well for all the three options. So overall the passengers are very happy with the availability of information for them to choose different date and check the fare price and the availability in one short. e) Was the promotion offers gave better deal as advertised? Response was positive; a total average of 71% of the respondents favour that it was among the best, with scores of AirAsia at a higher level of satisfaction at 76% said it was the best and followed by Tiger Airways with 73% and both airlines in general also got 65% saying it is among the best. Overall when we see the statistics among the worst and below average as got 3-5% on an overall basis whereas Average to above average category roughly 20-25% has scored well for all the three options. So overall the passengers are happy with promotion offers and deals that the airlines promises and offers to the passengers; but still can be improved further to get more passengers. 11. Please rate your experience in service quality provided by the Airlines. a) Wait time for check-in This section of the questions were mainly focused on the service quality provided by the both the airlines. It seems from the results that on an average the service was very good and the passengers are happy about the wait time is very less and it is maintained properly. AirAsia scored 38%, Tiger Airways scored 36% and both airlines combine results judged by the passengers who travel in both the airlines gave a score of 32% as excellent. And on an average good and fair scored 50-60% for all the three options and poor scored was just 6-8% which is quite acceptable. b) Ease of baggage check-in AirAsia scored 38%, Tiger Airways scored 36% and both airlines combine results judged by the passengers who travel in both the airlines gave a score of 33% as excellent. And on an average good and fair scored 50-60% for all the three options and poor scored was just 6-8% which is quite acceptable. It seems from the results that on an average the service was very good and the passengers are happy about the baggage check-in time. c) Friendliness of customer staff AirAsia scored 38%, Tiger Airways scored 36% and both airlines combine results judged by the passengers who travel in both the airlines gave a score of 32% as excellent. And on an average good and fair scored 50-60% for all the three options and poor scored was just 6-8% which is quite acceptable. So overall the feedback about the customer staff was good. d) Professionalism of ticket counter and gate staff
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The results were fair enough, but for the earlier question the rating was higher on the excellent side, but here it is bit reduced. AirAsia scored just 22%, Tiger Airways scored 20% and both airlines combine results judged by the passengers who travel in both the airlines gave a score of 21% only under the excellent category. And on an average good and fair scored 60-70% for all the three options put together and poor scored was just 7-8% which is quite acceptable. So overall the feedback about the ticket counter and gate staff was good enough. e) Availability of flight attendants to assist me AirAsia scored just 22%, Tiger Airways scored 20% and both airlines combine results judged by the passengers who travel in both the airlines gave a score of 19% only under the excellent category. And on the other side an average good and fair scored almost 60-70% for all the three options put together. But area of concern need to look into is the poor rating which is 12% for Tiger airways and 9% for AirAsia and both airlines 10% need to be looked into it and have to improve on that. Overall the feedback about the flight attendants is satisfied. f) Courtesy of flight crew AirAsia scored 32%, Tiger Airways scored 30% and both airlines combine results judged by the passengers who travel in both the airlines gave a score of 30% under the good category. And on the other side fair level scored 20-25% on an average. So overall the feedback about the courtesy of flight crew is very good. g) Quality and quantity of food served on board Tiger Airways scored 40%, AirAsia scored 53% and both airlines combine results judged by the passengers who travel in both the airlines gave a score of 45% under the fair category. And on the other side poor level scored an average of 12% that need to be looked into it by both the airlines. Reason may be cheaper fare so they cant provide better food on board like other traditional airlines do; but that should not be the case since passengers pay for their food separately in LCCs either on board or they pre book their food online while booking the tickets, in that case airlines can provide good quality and quantity of food to the passengers in future. 12. Do you think LCCs are cheaper and best for short distance travel? From the statistic it is very clear that most of the passengers prefer LCCs for their short distance travel due to cheaper price offered by the LCCs. 75% of the passengers respondents yes and only 15% of the respondents have said no. Instead of spending money on the tickets it is better to spending on food and lodging, so it seems a better option to go with LCCs compare to the traditional airlines; for the same destination they charge double the fare compare to LCCs in general; so wise decision is to fly LCCs for shorter distance travel. 13. Do you prefer to travel in LCCs over the traditional airlines? From the result of the survey it quite clear that people are moving towards the LCCs over the traditional airlines or FSC. Overall the scored 76% prefer to travel in LCCs and only 14% said no. The reason for the success of the new low cost carriers is very simple - move the maximum number of guests at the minimum of cost (AirAsia, 2013). 14. Is the LCCs follow the safety standards and how far you are satisfied with it? In this question the key part was to find out what the passengers feel about the safety standards that LCCs offer and are they satisfied with that. Since mostly mind-set of the people is since the fare are cheaper so the safety standards will not be meet as far compare with FSC. From the survey it seems passengers are quite satisfied with the safety standards of LCCs. Respondents have given a good mandate of 38% strongly agree that the safety standards are good in LCCs. Followed with 27% agreeing on it and 21% have said somewhat agree. So overall it is a good mandate of the LCCs. Only 9% of the respondents have said disagree that the safety standards are not good enough. 15. Do you think that LCCs is doing well compare to the traditional airlines today? Mostly the respondent were quite positive in their answer, most of them said LCCs is doing well compare to the traditional airlines (FSC). 53% suggested that it is more lucrative and only 15% said it is less lucrative business. Some agree that it is almost the same for the past 5 years not much of a change that scored 20% and the rest 12% no comments. 16. In what ways do you feel LCCs Airlines could better meet your travel needs? Some of the comments given by the respondents are consolidated and put forth here. a) More promotion offers need to be provided. b) Baggage allowance can be reduced from the present rate c) Quantity of food severed on board can be off higher potion
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d) Keep up the good work
5: CONCLUSIONS AND RECOMMENDATIONS After going through each and every aspect of LCCs and studying its impact on costumers satisfaction and whether it is worth travelling in LCCs and are they safe in terms of standards and their service quality through the survey of 300 respondents form the Changi Airport, Singapore it is more clear that Tiger Airways and AirAsia both the LCCs are doing well in Asia and their service quality is appreciated by the passengers as from the survey it is proved. Only some minor issues were brought in by the passengers that more promotion offers need to be provided; Baggage allowance can be reduced from the present rate; Quantity of food severed on board can be off higher potion and the rest was well got a good score on an overall basics as far the customer satisfaction of both the airlines are concerned. From the global angel as far the LCCs operations are concerned they too are doing well from the statistics provided in the earlier discussion. In Europe, LCCs are capturing higher and higher market shares on most domestic and intraEuropean routes. In response, network airlines are being forced to adopt some of the management practices previously developed by their LCC competitors, such as no free on- board frills, the elimination of business class, and the increased utilization of planes and crew. A further step for network airlines might involve their creating low-cost subsidiaries that can compete on equal terms with their low-cost rivals. (Xavier Fageda, Juan Luis Jimnez and Jordi Perdiguero, 2010) To be more competent as far LCC industry is concern the major support factor is its pricing of tickets are the success story behind it. In earlier days passengers were ready to compromise on service and amenities but now more LCCs airlines are coming in to business so the demand in keeping the price low and giving better service to the customers is a big task ahead for the LCCs operators. Key success of LCC depends on its best strategy by keeping higher load factor in terms of seats sold with respect to seats available; will keep the price down the cost per passenger. Higher utilization of the aircraft that can be achieved by maintaining a short turn-around time. Able to manage the overhead cost and keep it low that can be achieved by proper internal processes in back office. Finally keep a good labor forces with higher motivation and do not have labour unions will be a key advantage in bargaining power with them. Further for LCCs to keep in the race is to keep its superiority and magnitude of its network and its methods of building up of different fresh routes and destination. LCCs is not just for low end travels or middle income group travellers, the future trend is changing for the business class passengers to take the LCCs due to the cheap price and easy accessibility. Only concern to attract Business travellers to LCCs will be the flexibility of the location of the airport, for them location of the airport and centres is a key strength that can make the option to its customers a shortest and similar alternatives to the FSC. While a new model of success for low-cost carriers has been defined, earlier research in regards to the low cost model is still valid. As described by OConnell and Williams (2005), passengers still select low cost carriers because of low fares rather than product features. Air traffic in Asia will increase dramatically in the next few decades. 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 5657% -- but the percentage for North Asia is stunningly low at 9%. "That's a 91% potential upside for us," says Jetstar's Alistair Hartley. (CNN, 2013) Both Tiger Airways and AirAsia are expanding their routes at a faster rate to compete with each other. Compare to both in terms of financial aspects AirAsia is doing well. AirAsia is named as the Best Low-Cost Airline in Asia at the 2013 World Airline Awards by Skytrax in 2013. Tiger Airways stands in the 6th position. (Worldairlineawards, 2012). Tony Fernandes, AirAsia Group's CEO, believes tight control on costs and ties with one plane maker will help his group retain its advantage. One aircraft the A320. Lowest cost airline in the world. That's the key. Lowest cost always wins," Fernandes tweeted on Friday. (Reuters, Mar 2013). Due to the growing number of middle class and higher income levels in Asia with rapidly developing economic and building on its infrastructure has made more LCCs to operate in Asia in larger numbers; this has made more Expat to travel a lot to their home town quite frequently. I myself prefer to travel in LCCs that comes half the price compare to
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the traditional airlines. When we look into Europe 10 years back when Ryan air and EasyJet was competing with each other for the customers is what happening here with AirAsia and Tiger Airways now. Compare to Europe LCCs in Asia had started bit slow but it has grown at t tremendous pace that reflects on the records that more airlines are coming up to start their operations in Asia and invest down here on seeing the market potential. LCCs now account for 30% of seat capacity at Singapore, compared to virtually zero a decade ago. The LCC growth in Singapore has been driven primarily by Tiger and Jetstar Asia, which launched services in 2004. (A third Singaporebased LCC, Valuair, also launched in 2004 but was acquired by Jetstar Asia in 2005). AirAsia also has been able to build up a similarly sized presence in Singapore without having a local affiliate or operating certificate. The group currently serves Singapore from 13 destinations using four of its subsidiaries or affiliates Malaysia-based AirAsia Berhad, Indonesia AirAsia, Thai AirAsia and AirAsia Philippines. (CAPA, 2013). On concluding I just like to say that LCC got a high potential in global market and Asia as shown that it is growing at a tremendous pace, so anyone want to sustain its growth they need to make sure they provide the best service to the passengers at a cheaper fare but not comprising on safety standards. From the overall survey and the financial status of both the airlines it is always good to improve in the weaker areas and move forward towards the success for the future.
References
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AUTHOR
Mr. Naganathan Venkatesh obtained his Degree and a Master degree in Computer Science from University of Madras, India as well he also holds another Masters Degree in Human Resource Management and presently he is pursing PhD in Computer Science & Engineering from University of Madras, India. As Research Scholar, from NITTTR (National Institute of Technical Teachers Training and Research, Ministry of Human Resource Management, Govt. Of India) he has published many international journals to his credit. He is a charted member of Microsoft and holds Microsoft Certification in MCAD.Net, MCPD.Net, MCSD.Net and MCTS in SQL Server 2005 and BizTalk Server 2006. He is also a ACTA (Advanced Certificate in Training and Assess-ment) certified Trainer, Assessor and course developer awarded by WDA, Singapore He got sixteen years of work experience out of which; 5 years he worked in software industry with different roles played - Business Analyst, Associate Consultant, Team Lead and Program Manager for various clients in US and India whose company status was PCMM Level 5. In training industry he has over 11 years experience; roles played has a Corporate Trainer, Train the trainer, Chief Manager, Senior Lecturer, Assistant Dean, Academic Head. He had delivered and conducted wide range of training in Information Technology, Business Management and Human Resources Management subjects for various Universities; from Australia (Monash University, Deakin University, University of Western Sydney); from UK (University of Greenwich, Liverpool John Moores University, Anglia Ruskin University, University of East London) and Uni-versity of Madras (from India). He had delivered number of technical and marketing seminars in US, India, Singapore, Malaysia and Indonesia for respective employers he worked earlier.
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IPASJ International Journal of Management (IIJM)

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