Jetstar eyes growth in Asia, India

The head of low-cost airline and Qantas offset Jetstar sees opportunities to grow in Asia as incomes in China and India increase and governments open up more routes to overseas carriers.
Jetstar chief executive Bruce Buchanan said the airline was continuing to benefit from a favourable economic environment with relatively low fuel prices, favourable currency movements, low interest rates and low unemployment in Australia.
But he also cautioned that the Australian market itself had too much capacity at the moment.
"Asia will be the largest market over the next 15 years, it will surpass Europe and North America," Mr Buchanan said during an address to the American Chamber of Commerce in Australia in Sydney on Friday.
"It's the fastest growing travel market.
"I think China and India are very exciting markets."
Mr Buchanan said that as incomes grew in China and India, and more household incomes started to pass the $US10,000 mark per annum, holiday travel would increase dramatically in those countries.
Jetstar, which is owned by Qantas Airways Ltd, was in a good position to benefit from the growth in air travel in Asia, with one of the most recognised Australian brands in the region, Mr Buchanan said.
02/10/09 David Mcintyre/AAP/Business Day, Australia

To Read the News in full at Source, Click the Headline

Categories: Foreign Oct 2009, Low Cost General Oct 2009, New Oct 2009