The aviation industry is currently present in an oligopoly market model. However, there are three kinds of oligopoly models, Cournot, Stackelberg and Bertrand model. So this paper aims to apply the oligopoly theory to analyze the aviation industry. Besides, this paper will also take an in-depth look at the aviation industry in the Asia Pacific market. This market has the greatest potential out of the global markets due to its GDP fastest growing rate, largest population and some other aspects.