The low-cost carrier phenomenon is transforming the airline industry all over the globe, but it is proving slow to catch on in Japan. The demise of one of Japan's three new LCCs is the clearest sign yet that the challenges they face in this market are larger than they bargained for. However, the stakes are still high enough to keep several major players in the game. AirAsia Japan had been operational for less than a year when its joint owners, All Nippon Airways (ANA) and Malaysia-based ...

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