The head of the low-cost airline Jetstar, Bruce Buchanan, has aid that the airline is eying route-related opportunities in China and India.
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.
The Advertiser quoted Buchanan as saying to the American Chamber of Commerce in Australia in Sydney: “Asia will be the largest market over the next 15 years, it will surpass Europe and North America. It’s the fastest growing travel market. I think China and India are very exciting markets.”
Buchanan said as more annual household incomes in China and India passed 10,000 dollars, 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, Buchanan said.
“There’s a massive opportunity . . . to get a lot more capacity in those regions, and we know there’s a latent demand, because whenever we’ve gone into those markets and deployed Jetstar capacity, we’ve seen a strong uptake,” Buchanan said.