The low cost carriers change the perception that air travel is reserved only for the elites. As a result, the sector which is completely dominated by full-service airlines till a decade ago is now dominated by low cost carriers. In a way, low cost carriers address the rising aspirations of the Indian middle class couple with their high price sensitivity. The exploratory factor analysis reveals that convenience, service, efficiency and brand name are the factors affecting customer’s preference of low cost carriers. The results show that there is a significant difference between socio-economic characteristics of customers and factors affecting preference of low cost carriers except gender of customers and the factors affecting preference of low cost carriers. Therefore, the low cost carriers should operate efficiently and conveniently to the customers and must keep their brand name in high by providing superior services to their customers.