More than 12 airlines started operating in Asia-Pacific during the period 2005-2015. The fast growth in Asia-Pacific can be attributed to the fact that it has some of the fastest-growing economies including China and India Key Findings - The US is the largest market in the world in terms of revenues and seats sold. In 2015, its revenues stood at US$31.6 billion and the number of passengers carried totaled 216.6 million. Spain and the UK held second and third position in terms of seats sold, while Japan was the fastest-growing market at a CAGR of 33.7% during the historic period (2011-2015). Switzerland (90.6%) had the highest load factor in 2015, followed by France (90.5%) and Mexico (89.9%). In terms of revenue per passenger, New Zealand was the largest market while China was the fastest-growing market at a CAGR of 3.7% during the historic period - LCCs are increasingly gaining a foothold last minute flights to miami in the global aviation industry and their growth is not driven only by leisure customers. Today, LCCs are also adding direct flights to business destinations. For instance, Wizz Air and Ryanair run flights from London to Vilnius, the economic hub of Lithuania and one of the biggest financial centers of the Baltic States. Europe's two leading LCCs in terms of seats sold - Ryanair and Easyjet - are also making profits.
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