Asian low-cost carriers form biggest alliance of their kind. (Photo: VNA)

Hanoi (VNA) – Eight low-fare carriers from Southeast Asia, Japan and Australia have come together to form the world’s biggest alliance of budget carriers – the Value Alliance.

The alliance includes Singapore’s Scoot, Tigerair Singapore, Tigerair Australia, the Philippines’ Cebu Pacific Air, the Republic of Korea’s Jeju Air, Thailand’s Nok Air and NokScoot, and Japan’s Vanilla Air.

It does not involve Malaysia-based AirAsia, the largest low-cost airline in Southeast Asia, Indonesia’s Lion Air, Australia’s Jetstar Airways or India’s IndiGo.

It offers a website allowing passengers to book tickets and extra services, such as additional baggage and meals across the group’s airlines. In addition, it offers flights to more than 160 destinations with a fleet of 176 aircrafts.

Budget carriers in Asia have attempted to keep up with growing demand for travel in the region by ordering hundreds of new aircrafts from jet manufacturers Airbus and Boeing.

According to Boeing’s global prospect in 2015, Asian low-cost airlines have grown at an average rate of 24.5 percent annually over the past decade, compared to 13.4 percent by their peers in Europe.-VNA