On August 26th 1988 the first low-cost carrier in thePhilippines launched operations on March 8, 1996. It was founded as Cebu Air (later Cebu Pacific Air), and subsequently acquired byJG Summit Holdings (owned by John Gokongwei). Cebu Pacific initially served domestic routes at cut-price fares around the Philippine islands, until the 2000s when Cebu Pacific was granted rights to operate international flights throughout the region.Philippine Airlines launched a subsidiary low cost airline known as Air Philippines in 1995, the same year Cebu Pacific was launched. In early 2008 Philippine Airlines launched a low cost regional arm of the airline known as PAL Express to compete with Cebu Pacific on key regional routes and to tourist destinations not accessible by Jet Aircraft.
On May 28, 2008, Cebu Pacific was named as the fastest growing airline in the world. The airline was also ranked 5th in Asia for budget airline passengers transported and 23rd in the World. The airline carried a total of almost 5.5 million passengers in 2007, up 57.4 per cent from 2006
Japan has seen a few attempts at LCC, for example Hokkaido-based Air Do which flew between Sapporo and Tokyo from 1998, but was acquired by ANA in 2000. Viva Macau andJetStar fly from Narita, Osaka and Nagoya. ANA has announced the creation of an LCC by 2009.