Asia Pacific's aviation industry is on a growth tear, and low-cost carriers are leading the way. A forthcoming PhoCusWright Asia Pacific and Global Edition report, PhoCusWright's Asia Pacific Online Travel Overview Fifth Edition Airlines: A Turbulent Ascent, reveals that the region's airline market is the fastest growing in the world – and low-cost carriers (LCCs) will grow nearly three times faster than traditional airlines across APAC in 2012. Despite political and economic instability, natural calamities, rising oil prices and foreign exchange volatility, airline gross bookings marked double-digit gains across all APAC markets except Japan in 2011. But the standout performance came from the region's LCCs, whose passenger revenues jumped 42% in 2010 and another 27% in 2011. In 2012, PhoCusWright projects LCCs will grow 23% versus just 8% for traditional airlines. "While traditional airlines still account for the vast majority of passenger revenue in the region, LCC...