The stage is set for a sharp increase in passenger air traffic in Northeast Asia following the entry of three new low-cost carriers into the already giant Japanese market. The three new airlines — AirAsia Japan, Jetstar Japan and Peach — are the latest in a wave of Asia-Pacific low cost carriers that have already swept through Southeast Asia, sending air traffic numbers there soaring. Budget carriers are “engines of growth” that stimulate overall air traffic, say aviation analysts at banking group HSBC. Higher Northeast Asian air traffic will mean a sharp rise in jet fuel consumption in the backyard of Asia’s major jet exporters — South Korea, Japan and Taiwan (JFI Jan.9).
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