Low-Cost Culture a Risk Factor in Airline Safety

In the past few years, Southeast Asian airlines have experienced remarkable growth, driven primarily by the rapid expansion of low-cost carriers, like AirAsia.

Indonesian soldiers prepares to carry coffins of victims of the AirAsia flight QZ8501 crash at the Indonesian Air Force Military Base Operation Airport on Jan. 1, in Surabaya, Indonesia. Oscar Siagian/Getty Images

In the past few years, Southeast Asian airlines have experienced remarkable growth, driven primarily by the rapid expansion of low-cost carriers, like AirAsia.

The market for flights in the region, defined by carrying capacity, grew by a staggering 20 percent in the 18 months before October 2013, and every country (save for Brunei) experienced double-digit growth.

Indonesia and Malaysia led the way with 29 and 25 percent growth respectively, driven by low-cost carriers (LCC) that aggressively slashed fares.

AirAsia has only had 13 years to figure out how to run an airline.