Asia's top 10 budget airlines

The aviation sector is going through a very turbulent phase in India and abroad.

In India, domestic air traffic has plunged to a five-year low, as traffic crashed by 19 per cent in September 2008.

As airlines face mounting pressures of a recession, fall in traffic and huge operational costs, how are low cost airlines faring?

So here's a look at the best budget airlines in Asia. Smart Travel Asia, an online travel magazine, rates these airlines on the basis of cheap tickets, reliable schedules, decent service and route network and access. While Air Asia tops the list, Air Deccan and Spicejet also make it to the top 10 list.

1. AirAsia Berhad

Topping the list of low cost carriers is AirAsia. Asia's largest low budget airline is based in Kaula Lumpur and flies domestic & international flights. AirAsia was the first to introduce low cost travelling in Asia. The airline started operations on 18 November 1996.

It was founded by the government owned DRB-Hicom. However, the airline ran into rough weather and incurred huge losses. Former Time Warner executive Tony Fernandes took over the company and revived it. "Before a business can grow, it needs to have its costs under control. It must be cost-efficient and profitable, and it must create value," Fernandes believes.

The company under his leadership scaled new heights. AirAsia introduced its low fare, no frills concept in December 2001. AirAsia is also now a public listed company on the Malaysia Stock Exchange. The airline now flies to over 60 destinations. It has a fleet of 69 aircraft.

The AirAsia group, has carried over 35 million passengers. AirAsia also plans to start low-cost flights to India soon. According to Fernandes, the revenue for the quarter ended June 2008 increased by 41 per cent to RM608 million as the airline carried 20 per cent more passengers to 2.8 million with 16 per cent higher fares. 'Now everyone can fly' says AirAsia Berhad's tagline.