Low-Cost Carriers: The Pilots of the Aviation Industry in the Globalized World

Abstract

In the current cut-throat prices sensitive and hyper-competitive civil aviation market, this paper goes on to analyze and understand the role played by Low-Cost Carriers. It analyses the rise of the Low-Cost Carrier model in the United States and further the adoption of this model across continents and why this no-frills approach has been a huge success and has evolved the aviation market making it a cut-throat price-sensitive market and by doing so furthering the process of globalization by creating an economic closeness between space and causing a collapse in time and space.