KUALA LUMPUR: AirAsia and fellow budget carrier, Qantas Airways' Jetstar have been named the best in brand-reputation, according to a new survey published by Nielsen Holdings and Campaign Asia on Thursday. The two budget carriers overtook previous top spot holder Singapore Air in what many industry experts believe is a sign that the budget regional airlines are having a greater impact than previously thought. It comes as gloabally, airlines are expected to see profits reduced by nearly $4 billion in 2012, to $3 billion, the International Air Transport Association has reported, saying Europe's economic woes are largely to blame. “It's an economic reality," Therese Glennon, managing director of consumer insights for Asia Pacific, Middle East and Africa at Nielsen, said in an interview with Bloomberg news agency. “As the demand for budget travel increases, as the economic situation deteriorates, you see a lot of these bigger airlines adjusting their business models," Glennon added. Singapore Airlines, one of the top 10 companies in the world based on market presence, had been the top carrier in the region, but with rising prices and its inability to compete with AirAsia in recent months, consumers and travelers are having more faith in the budget carrier.
