Long gone is the Golden Age of Flying when airlines had one flight class that offered all the glitz and glamour of a Hollywood movie. Nowadays passengers are seeking out the multitude of low-cost carriers that have exploded onto the scene in the past fifteen years.
Whilst the domain of low-cost carriers was once short-haul and domestic routes which allowed them to avoid hangarage and other costs away from their home base, increasingly these carriers are expanding into other market segments. Between 2007 and 2016 flights operated by European low-cost carriers increased by 61%, which is a stark contrast to the 10% decrease in flights operated by traditional carriers during the same period.
Low-cost airlines are easy to detest given their strict baggage limitations and seemingly endless price add-ons, however, their prices have made air travel accessible to huge new markets. Millennials, in particular, are flocking to low-cost airlines as they seek out adventure on a budget.
First and business class travel is generally not an option with low-cost carriers, as plane configurations are designed to carry the maximum number of passengers. However, a 2017 GlobalData travel and tourism survey found that cost is very important to 58 per cent of people when choosing an airline, whilst comfort rates similarly for only 34 per cent.
Low-cost carriers, therefore, are giving the majority of customers exactly what they’re looking for.
This love affair with low-cost air travel now seems to be creeping into the traditional carrier segment, with many airlines dispensing with first-class and focusing instead on economy, premium economy, and business classes.
