The document discusses Air Asia, a low-cost airline founded in 2001 with hubs in Kuala Lumpur, Penang, and Kuching. It operates over 140 aircraft on 88+ routes to destinations across Asia. Air Asia aims to be the largest low-cost airline in Asia and improve connectivity at affordable prices. It keeps costs low through limited services, charging for extras, and maintaining a single aircraft type. While it faces disadvantages like many competitors and an inability to handle irregularities well, its focus on safety, high aircraft utilization, lean operations and distribution have contributed to its success. Air Asia also has several subsidiaries across Asia and aims to serve the billions currently underserved by air travel.