The budget airlines are gaining momentum in the Chinese air travel market. With China's economy slowing down, many corporate and business firms are slashing travel costs as well.

The cost control measures are creating more demand for budget airlines. With the increasing demand from companies and business travelers, the budget airlines segment is expected to grow over 100 percent by 2020. 

China's first low-cost carrier began operations in 2010. Budget airlines account for seven percent of China's domestic air travel industry. This will be over double in next five years, according to an aviation data and analytics company OAG.

As per a report published by Reuters, the Civil Aviation Administration of China (CAAC) is encouraging budget airlines since 2013 onwards. The Chinese government is also opening up more routes for budget airlines. With the increasing coverage of budget airlines, the Chinese government is optimistic about economic growth in western China.

The low-cost travel is gradually becoming a part of the lifestyle of Chinese. It's become a common scene employees discussing discount offers on air tickets that come below $20. China has four budget airlines, which are offering discounted air tickets to increase the air traffic volume.

China is one of the fastest-growing air travel markets in the world. The passenger volume of 392million is growing over 10 percent annually.

According to Yahoo Maktoob News, China will surpass the US to become the world's largest domestic air traffic market in next 10 years. 

European airlines such as Ryanair and easyJet are graduating to moving up the value chain by tapping up the market. These airlines tap business travelers while making a mark among other budget airlines. 

Many budget airlines such as West Air and Spring Airlines are offering discount offers on domestic travel, as reported by CNBC.

For instance, West Air, a subsidiary of Hainan Airlines, is offering a round trip from Chongqing to popular places within the range of Yuan 999 as against the one-way fare of Yuan 770.

Barring new entrant 9 Air, all the budget airlines in China are running profitable. Spring Air is the first budget airline and largest as well in China. Spring Airlines has decided to begin service from Shanghai to Pyongyang in 2016.

Spring Air has sought approval from Chinese and North Korean governments for four direct flights every week for the route. 

Spring Air has signed a $6.3 billion deal with Airbus. As part of the agreement, Airbus will deliver 60 A320neo jets to Spring Air. Considering the growing demand, budget airlines such as Spring Air plant to tap the new markets.

Sprint Air is also enhancing fleet fuel efficiency as part of its cost control mechanism. To accommodate more seats, budget airlines are reducing kitchen space as well.