BANGKOK: Before the COVID-19 pandemic, Southeast Asia was one of the fastest growing markets for air transport. But despite being buoyed by high demand, a deregulated airline market squeezed the profit margins of most Southeast Asian airlines, leaving them particularly vulnerable to the economic fallout from COVID-19. Advertisement Advertisement Southeast Asia’s "sky liberalisation" produced fierce competition between low-cost carriers (LCCs) and full-service carriers (FSCs) over the last decade.
