Southeast Asia has established itself as one of the world’s fastest growing aviation markets – and has huge potential for more rapid growth. Nearly all of the 10 countries that comprise ASEAN have robust economies and expanding middle classes, resulting in a favourable environment for airlines. Low-cost carriers, which already account for about 60% of capacity within Southeast Asia and have driven most of the region’s passenger growth over the past decade, are particularly well positioned as demand continues to rise. However, Southeast Asia has become one of the world’s most challenging markets over the past year due to intense competition and overcapacity. To view CAPA's full report, click here.