Japan Airlines Corp, Jetstar Airways and Mitsubishi Corp appear now to have agreed to establish a LCC JV with plans to commence domestic and international service from its proposed based at Tokyo Narita International Airport by Dec-2012, according to reports in The Nikkei on 12-Aug-2011. This follows hard on the heels of All Nippon Airways' announcement last month that it plans to establish two LCC subsidiaries, Peach and a JV with leading low cost airline AirAsia, AirAsia-ANA. The JAL JV would add another piece to the complex jigsaw that is now transforming the Asian airline market. The potential market growth as these successive ventures are introduced can be measured in the hundreds of millions of new passengers. Removal of highly restrictive regulatory conditions and the scale of opportunities as new city pair market options emerge mean literally that the sky is the limit for growth upsides.