In two weeks, Kingfisher Airlines, south Asia's newest budget airline, will take off from Mumbai on its maiden flight to Bangalore, becoming India's second low-cost carrier.

It will be followed soon after by Spice Jet, which plans to offer airfares 40-60 per cent cheaper than standard fares. By the end of this year, there could be two more carriers in the skies, and at least eight new airlines are planning to launch over the next two years.