The quick economic recovery in Asia along with cheap sources of financing, and relaxed regulation have created the perfect conditions for the proliferation of several low-cost carriers. India, Malaysia, the Philippines and Singapore are among countries that are seeing many of these low cost carriers come on line.
This development has resulted in many jet orders that should benefit companies such as Boeing and EADS (Airbus). The race to be first means more pilots are being hired resulting in shortages among the more established carriers in the region. Even the "legacy carriers" are throwing their hats in the ring by starting new low cost subsidiaries to protect their market shares.
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