Mumbai: Low-cost air carriers are eating into the market share of full service airlines in the business travel category as corporates are adopting conservative travel policies to reduce their cost of operations especially after the 2008 global financial crisis.
As per Global Business Travel Association, the Indian corporate travel market was estimated to be about $ 20.8 billion and is expected to grow at a compounded annual growth rate of 10.8 per cent till 2015.
“Low cost airlines have gained 54 per cent market share in India and are growing fast due to the huge middle class and the growing penetration in this segment. The Indian business sector too has caught on to the fancy of the low-cost carriers, driven by the need to reduce costs and also because these carriers have improved their on-time performance,” observed, Anna Singh, assistant managing director, ATPI, one of the world’s leading travel management company while addressing Business Travel Forum 2013.
20/06/13 Deccan Chronicle
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As per Global Business Travel Association, the Indian corporate travel market was estimated to be about $ 20.8 billion and is expected to grow at a compounded annual growth rate of 10.8 per cent till 2015.
“Low cost airlines have gained 54 per cent market share in India and are growing fast due to the huge middle class and the growing penetration in this segment. The Indian business sector too has caught on to the fancy of the low-cost carriers, driven by the need to reduce costs and also because these carriers have improved their on-time performance,” observed, Anna Singh, assistant managing director, ATPI, one of the world’s leading travel management company while addressing Business Travel Forum 2013.
20/06/13 Deccan Chronicle
