Low Cost Airlines Market Size, Key Trends, Company Profiles and Forecast, 2024 Update

The low cost carrier (LCC) revenue was $197.58 billion in 2023. The market will grow at a CAGR of more than 10% during 2023-2028. Affordability has become an important factor for low-cost airline companies to develop their customer base. A significant percentage of global respondents stated that affordability has become a factor for travelers while deciding holiday. Low-cost airlines have prioritized affordability as one of the key factors to attract budget-conscious travelers, leading to cost-cutting measures like charging for extras like baggage and in-flight meals.
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