Low-cost carriers will lead the post-COVID recovery in the aviation industry on successful cost-cutting measures, according to UK data and analytics company GlobalData.
It said budget carriers’ cost-containment measures and operational responsiveness would allow airlines to move quickly to absorb pent-up demand and capitalize on opportunities ahead of other high-cost model carriers.
Tourism and travel industries were heavily hit by COVID-19 and measures taken to curb its spread.
While some countries have slowly eased restrictions with the arrival of vaccines, travel is not yet expected to return to pre-pandemic levels.
In the Philippines, even domestic tourism cannot fully take off just yet as quarantine restrictions remain in place.
Based on GlobalData’s latest survey, a high of 87 percent of respondents globally are concerned about their personal financial position but budget carriers’ low fares are well-positioned to meet such concern.