1. AirAsia Berhad
It was founded by the government owned DRB-Hicom. However, the airline ran into rough weather and incurred huge losses. Former Time Warner executive Tony Fernandes took over the company and revived it. "Before a business can grow, it needs to have its costs under control. It must be cost-efficient and profitable, and it must create value," Fernandes believes.
The company under his leadership scaled new heights. AirAsia introduced its low fare, no frills concept in December 2001. AirAsia is also now a public listed company on the Malaysia Stock Exchange. The airline now flies to over 60 destinations. It has a fleet of 69 aircraft.
The AirAsia group, has carried over 35 million passengers. AirAsia also plans to start low-cost flights to India soon. According to Fernandes, the revenue for the quarter ended June 2008 increased by 41 per cent to RM608 million as the airline carried 20 per cent more passengers to 2.8 million with 16 per cent higher fares. 'Now everyone can fly' says AirAsia Berhad's tagline.
2. Jetstar Asia
Jetstar Asia Airways merged with Valuair on 25th July 2005. Both airlines operate out of Singapore and fly to major cities in South-east Asia. The airline boasts of a brand-new fleet, great destinations and friendly crew and affordable experience. It has a fleet size of 10 aircraft.
The company, has seen a 20 per cent jump in revenue and 4 percent rise in passenger load factor to more than 75 per cent for the year ended 31 March 2008. Jetstar Asia is headed by chief executive officer Chong Phit Lian
While fuel accounts for 40 per cent of the group's expenses in the previous year, Jetstar Asia is confident that it is on the path to sustainable growth, according to Chong.
In the Skytrax Airline of the Year survey for 2006, Jetstar Asia was awarded the best low-cost Airline for both the Asia and South-east Asia categories. In 2007, it was ranked as the world's best low cost airlines by SkyTrax.
3. Nok Air
Nok Air based in Bangkok is the third best budget airline in Asia. The 'Nok Air' brand was first established on 10th February 2004 under the company Sky Asia Co. Ltd. NoK Air means 'bird' in Thailand.
On January 15th, 2006, the company name was changed to 'Nok Airlines Co. Ltd'. The airline was established in December 2003 and started operations on 23 July 2004. A subsidiary of Thai Airways International, Nok Air plans to add several international destinations to its route.
Known for its innovative measures, the airline also introduced 'Book Online Pay Offline' scheme to help make reservations online without using credit cards. The pre-reserved ticket can be paid at the airline counter services and ATMs. Patee Sarasin is CEO of Nok Air. 'We fly smiles' is the company's tagline.
4. Tiger Airways
Tiger Airways offers one of the lowest possible airfares in the market. Tiger Airways first flew from Singapore in September 2004 with two aircraft in its fleet and three routes in its network.
After 3 years, Tiger Airways now flies to more than 25 destinations across 9 countries in Asia-Pacific on a fleet of brand new Airbus A320 aircraft. Tiger Airways recently ordered 50 brand new Airbus A320s to grow its fleet to 70 Airbus aircraft.
Tiger Airways based in Singapore has also launched a new route between Singapore and Bangalore. The Tiger Aviation Group consists of Tiger Airways Singapore and Tiger Airways Australia, both 100 per cent owned by the Tiger Aviation Private Limited. Tony Davis is the CEO of Tiger Airways.
5. Cebu Pacific
Cebu Pacific based in Philippines started operations on March 1996 and pioneered low coast flying in the country. CEB launched its international operations on November 2001 and now flies to Bangkok, Guangzhou, Ho Chi Minh, Hong Kong, Jakarta, Kaohsiung, Kota Kinabalu, Kuala Lumpur, Macau, Osaka, Pusan, Shanghai, Seoul, Singapore, and Taipei.
It operates a fleet of 21 aircraft, the youngest fleet in the Philippines with a fleet age of 1.8 years.
CEB offers the lowest year round 'all-inclusive' fares for its domestic sectors. It was first local airline to introduce e-ticketing and booking through SMS in the Philippines.
It is known for on-time performance, schedule reliability, and comfortable flights. Lance Gokongwei is the director, president and CEO of the airline.
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