TOP AIRLINE GROUPS BY REVENUE
Ishak, Silva
Airline Business; Aug 2012; 28, 8; ProQuest
pg. 44
WORLD AIRLINE RAN KINGS FINANCIAL
ANALYSIS BY FUGHTGLOBAL INSIGHT DATA COMPILED BY SILVA ISHAK FliGHTGLOBAL DATA RESEARCH
TOP AIRLINE GROUPS BY REVENUE
-
TOP AIRUNE GROUPS RANKED BY REVENUES 2011: 1 TO 50
20U
2010
1
(1)
Lufthansa Group
Germany
2
(2)
USA
USA
(4)
UntteGContinental HoIdI""
Delta Air Unes
Air France-KLM Group
(5)
FedEx Express
AMR
USA
USA
(7)
International Alrtlnes Group
ANA Group
Japan
Emirates Group
United Arab Emirates
(3)
(9)
France
UK/Spain
10
(10)
14)
_ AI~_
USA
11
(8)
Japan Airlines Group
Japan
12
13
14
15
16
17
(11)
(13)
(16)
(12)
(17)
(15)
(18)
(19)
(20)
(21)
(24
(25)
(22
(23)
29)
(28)
(27)
(31)
(30)
(26)
(34)
(35)
1B
19
, 20
21
22
23
24
2S
26
27
28
29
30
31
32
33
34
35
, 36
37
38
39
40
41
42
43
44
45
46
47
48
49
so
(33)
(36)
(38)
(40)
(32)
(37)
(39)
(47)
(42)
(45)
(SO)
(41)
(48)
(53)
44)
(46)
(43)
Air China
China
Qantas
Australia
China
China Southem Alrtlnes
US Airways
USA
China Eastern Airlines
China
Cathay Pacific Group
Hoog Kong
SlngapcM8 Airlines Group
Sipgapore
Air Canada
canada
Korean Air
TAM Unhas Aereas
South Korea
Turklsh Airlines
Qatar Airways Group
Turkey
Brazil
Qatar
SASGroup
Sweden
Thai Airways International
Thailand
Ryanalr
Ireland
UPS AIr1lnes
USA
Air Berlin
LAN Airlines
EaoyJet
Saudla ~.
Gennany
Chile
UK
Aeroflot
Russia
Autalla
Aalana Alrtlnes
Malaysia Alrtlnes
Italy
South Korea
Malaysia
GOl Transport.. _
Brazil
Saudi Arabia
JetBlue Airways
USA
China Alrtl""
VJrgJn Atsantk: Group tit'
Taiwan
UK
Alaska Air Group
USA
Etihad Airways
United Arab Emirates
China
Colombia
Halnan Airlines Group
AviancaTac:a
SkyWest Alltlnes •
USA
EVA Air
Taiwan
AI, New Zealand
NewZeatand
VIrg1n Australia
Air Indla EIt·
Australia
india
TAP Portugal
Portugal
South Africa
South African Airways Ell'
-
40.164
37.110
35.115
34.109
_ _ t,",)
8.6
3.3
26,515
23,979
22.839
17.897
16.958
15.658
15.276
15.260
14.842
14.017
13.341
12.943
12.649
11.896
11.779
10.676
7.574
7.008
6.825
6.441
6.361
6.063
5.941
5.909
5.718
5.552
5.500
5.388
4.862
4.821
4.549
4.515
4.509
4.493
4.400
4.318
4.100
4.074
3.815
3.655
3.472
3.315
3.260
3.2SO
3.215
3.200
10.4
4.0
14.9
-11.6
19.3
8.1
18.2
12.1
9.9
2.3
7.2
3.0
12.8
38.0
0.8
5.5
21.0
9.8
16.1
3.8
20.5
7.8
5.8
2.3
8.0
4.3
1.6
21.0
21.2
-2.1
7.3
9.7
9.6
.Q.7
3.8
15.0
8.8
10.6
9.0
7.9
8.2
16.9
12.1
14.9
29.4
4.6
25.1
22.2
23.9
9.4
17.5
9.8
8.6
12.5
8.0
18.8
23.8
26.8
6.8
9.3
26.1
21.0
16.3
26.4
19.9
3.8
25.1
14.2
10.9
7.4
13.7
19.3
2.1
5.5
12.7
37.6
26.9
24.7
32.2
4.4
16.6
24.0
3.8
5.2
0.4
_ _ {%)
2011
2010
20U
2010
1.146
1.822
1.975
493
1.260
-1.054
569
1.230
494
693
2.598
971
642
675
1.346
1.919
2.217
162
1.228
2.9
4.9
5.6
·1.4
4.8
4.4
2.5
6.9
2.9
4.4
17.0
6.4
4.3
4.8
3.3
5.0
5.6
1.9
1.5
3.3
4.7
0.9
3.9
5.6
7.0
0.5
5.0
1.4
1.5
5.0
10.0
8.2
13.8
13.2
1.8
8.2
6.4
434
647
707
229
182
356
358
60
100
-80
944
342
-346
540
433
308
297
797
1.482
988
2.216
1.617
223
929
781
843
1.813
959
269
96
463
319
·285
689
647
230
-22
623
270
389
480
.s
-141
7.7
15.7
8.8
2.6
1.0
7.3
5.6
1.6
-4.7
-1.3
15.6
5.8
-5.8
9.4
7.8
11.8
13.5
4.7
.Q.4
13.8
5.8
7.2
.Q.2
11.1
-3.3
311
491
6.4
11.3
-751
-87
324
-53
55
397
344
470
-16.5
-1.9
7.2
-1.2
1.3
10.0
9.1
10.7
472
10.4
3.3
12.1
7.4
12.3
449
137
495
282
41
15
83
-18
57
415
264
202
403
106
69
-822
-1
1.1
0.4
2.5
.Q.6
1.8
12.9
8.6
7.3
12.1
3.7
2.6
-26.2
.Q.O
'~tincludes acquiSition of ExpressJet;lttNrline BusNlessestimates used Whefe fUJl-yearfi&ures are unaval\abletogtwean indication of the 8Ir1me's reo.oenue ranldng See PSl fofmelhOdOlogyde
:::~
",Il"••,_ __
44 I Airline Business I August 2012
ftightglobal,com/ab
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
NIt-et(",
20U
20U
2010
.()
4
3
2
3
·1.979 -471
776
132
274
357
441 1.488
459
178
2.366
1.095 1.825
249
102
944
949
180
599
779
689
729 1.832
269
824
-253
-23
272
398
-253
336
11
189
220
262 ·326
467
-333
774
496
130
195
-380
·140
420
320
362
189
-8
3
2
3
1
15
7
2
7
1
5
6
2
-2
-3
-3
0
526
·96
15
-825
-401
86
66
278
-222
208
74
122
97
338
10
-2
0
-18
·9
2
-1
245
14
439
109
27
7
62
251
6
0
11
3
-1
0
2
·2
476
33
96
383
58
-68
19
·1.508
4
·70
91
fIIghtglobal.com/ ab
2
2
-3
-4
·5
13
2
-6
6
7
0
·2
1
2
10
4
15
1
8
5
7
16
......................
........ ..., ......
-,% .,...-" t._
~
.... -..,.('4)
2010
-18 1,452
840
955
854
593
·1.131
812
-
(
28.702
32.511
30.257
26.326
18.2
9.0
11.0
9.8
4.536
1.167
1.027
4.393
12.2
0.6
20.8
5.0
20.671
19.115
12.318
13.327
8.3
17.5
12.3
18.2
703
1.663
1.535
2.599
4.6
15.0
10.3
8.4
10.984
12.950
12.000
999
28.5
24.4
1.525
839
-23.1
2.3
15.9
10.612
8.712
21.6
14.0
1.253
3.339
0.5
0.2
10.355
6.353
6.390
13.6
43.4
20.7
6,085
24 .6
5.283
4.743
5.061
4.839
28.0
7.9
10.6
29.2
488
3.163
702
573
997
225
919
38.3
19.4
0.3
3.1
5.795
21.9
5,391
4.009
4.396
15.6
28.9
17.5
1.577
23.1
4,196
23.2
278
·2.3
3.392
4.021
4.150
16.0
12.5
569
-9.1
3.951
2.960
3.609
3.342
3.585
13.2
23.8
30.1
28.0
31.6
109
651
143
387
2.4
25.7
17.1
10.4
2.692
2.945
16.0
23.4
212
18.5
a
.()
4
5
3
4
·5
8
10
4
-3
9
4
6
8.3
25.2
11.4
7
15
1
3
12
2
1
-48
-2
3
Not•
Includes AlrTran Since May 2011
Source: US DOT
Airline estimates. Pax and cargo figures for airline only
Source: US DOT
Sep11
-5
5
2
3
3
8
Dec 11
Dec 11
Dec 11
Dec 11
May 12
Dec 11
Dec 11
Mar 12
Mar 12
Dec 11
Mar 12
Dec 11
Jun11
Dec 11
Dec 11
Dec 11
Dec 11
Mar 12
Dec 11
Dec 11
Dec 11
Dec 11
Mar 12
Dec 11
Dec 11
Mar 12
Dec 11
Dec 11
Dec 11
13
Dec 11
Dec 11
Dec 11
Dec 11
Dec 11
Dec 11
Dec 11
Dec 11
Source: Airline Business estimate
Feb 12
Source: Airline Business estimate
Dec 11
Dec 11
Dec 11
Dec 11
Dec 11
Dec 11
Jun 11
Jun 11
Mar 12
Dec 11
Mar 12
Source: AIrline Business estimate
-- - - -
Source: Airline BusIness estimate
"I
August 2012 I Airline Business I 45
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
WORLD AIRLINE RANKINGS FINANCIAL
- --
TOP AIRLINE GROUPS RANKED BY REVENUES 2011: Sl TO 100
20U
(49)
(54)
(58)
(52)
(59)
(57)
57
(51)
i 58
59
60
61
62
63
64
65
66
67
(55)
(56)
(61)
(60)
(73)
(63)
(75)
(68)
(74)
(69)
68
(66)
Jet Airways
WestJet AI~)nes
Garuda Indonesia
India
Canada
Indonesia
Thomson Allw8YS
UK
TransaeroAiriines
Russia
Mexico
Aeromexlco
Republic Airways Holdings
USA
Flnnalr
Finland
Air Transat
Canada
Vietnam AI~I_ "".
EIAI
Vietnam
NcMweglan
Cargolux
UTalr Aviation
Air Europa
CopaAI~lnes
Condor
AorUngus
69
(64)
Volga.Onepr Airlines
70
71
72
(65)
(71)
(76)
Jazz
Hawaiian AI~lnes
73
74
(70)
(77)
Royal Air Maroc:
57 AI~I_
75
(78)
76
77
(67)
(62)
Ethiopian Airlines
Tbomao Cook AI~lnes (UK) ",.
79
80
(81)
(82)
PhIlippine AI~lnes
Egyptalr "'.
AlrAsla
Bruosels AI~I...
o,..tirC rMUn It... )
lOU
2010
0-
2010
Sl
' 52
53
54
55
56
Israel
Norway
luxembourg
Russia
Spain
Panama
Germany
Ireland
Russia
Philippines
Canada
USA
Morocco
Russia
Ethiopia
UK
Egypt
China
Malaysia
Belgium
Pakistan
81
(79)
Pakistan International Airlines
82
83
(86)
(80)
Kaillta Air
AHas Air
84
(90)
Pinnacle Airlines
USA
USA
USA
85
86
(87)
(88)
Kenya Airways
Vuellng AI_
Spain
81
(83)
AeroUneas Argentinas r.t'
Kenya
B8
(96)
IndIGo ""
Argentina
India
89
(72)
Kingfisher Airlines
India
90
91
92
(102)
(92)
(89)
SpIrit AI~lnes
lOT Polish Airlines
Nippon Cargo AI~lnes
USA
Poland
Japan
93
(93)
Royal Jordanian Airlines
Jordan
94
(106)
Virgin Amaflc:a
USA
95
=96
=96
(111)
(85)
Skymark Airlines
Gulf AI, t.!,
Lion AI, Ea'
Japan
Bahrain
Indonesia
I'"
3,157
3,116
3,091
2,983
2,948
2,872
2,865
2,757
2,619
2,200
2,043
1,892
1,867
1,845
1,830
1,830
1,802
1,801
1,752
1.712
1,688
1,651
1,607
1,543
1.517
1,500
1.500
1.499
1.464
1,449
1,345
1.286
1,285
1,232
1,213
1.207
1.200
1.200
1,189
1,071
1,065
1.049
1.038
1.037
1.018
1,000
1,000
98
(95)
FIybe
UK
987
99
(100)
Wizz AI, £aI'
Hungary
100
(94)
Monarch AI~lnes "'.
UK
950
950
17.3
17.8
47.8
9.8
42.1
27.5
38.3
-6.9
11.2
21.0
52.5
13.4
47.5
29.4
7.9
19.8
14.4
17.3
3.6
33.4
8.4
32.4
16.2
29.7
16.1
12.2
6.8
4.7
17.5
25.8
7.1
18.0
17.3
-6.0
-18.8
38.9
18.9
18.0
6.6
19.8
4.0
20.7
13.7
14.8
2.2
38.5
-16.6
37.1
8.8
1.6
7.3
43.2
50.2
-6.9
3.3
12.1
-3.9
6.4
18.8
-0.5
13.1
7.9
27 .0
22.5
27 .6
12.2
12.5
6.0
-0.8
12.0
4.5
13.7
47.2
-9.2
-14.1
32.6
13.3
11.4
8.4
25.7
8.4
46.2
-12 .0
6.5
-5.8
7.5
- - _ 1%)
20U
2010
-10
-2.4
8.4
3.7
8.6
2.8
9.6
-3.7
-2.3
7.6
7.3
-0.7
5.6
4.4
9.6
5.0
-0.5
-43
75
88
35
-2.1
3.9
4.5
2.4
-10
385
111
69
90
-94
103
25
74
60
263
84
69
304
108
84
95
0.5
-0.6
21.0
6.2
3.8
5.1
-5.5
6.1
1.5
5.3
3.8
18.6
5.4
4.3
18.5
6.6
5.8
7.3
138
106
58
24
122
333
·16
7.6
1.7
10.5
8.2
3.6
1.3
11.3
27.0
·1.3
0.7
13.5
18.9
6.0
6.8
7.5
-41.4
·74
260
115
256
82
275
215
189
-15
148
87
214
-106
133
-62
117
25
154
392
-207
48
146
15
16
145
234
62
72
79
-486
10.3
26.8
-15.4
3.7
11.4
0.1
1.2
1.3
22
·12
163
-20.9
13.5
-4.6
5.1
-8.1
-2.6
23.2
-1.6
8.8
·5.5
9.9
2.3
-1.7
24.1
·1
-0.8
-0.2
-249
144
-49
54
-22
69
-54
102
-84
·27
236
-8
-0.2
-2
NOTES: tstAIrline BusIness estlmates have been used where full-)'ear figures are unawllable to &lYe an Indication of the airline's revenue rank~
48 I Alrtine Business I August 2012
f1ightglobal.com/ ab
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
JrMtr....et(")
20U
...0
.... -..f'io)
lOU
2010
·257
151
98
109
62
167
·152
·122
2
89
57
·76
19
188
·14
·30
-8
5
3
4
2
6
05
-4
0
3
3
·3
1
8
·1
·1
-49
22
·18
9
-13
310
18
57
28
60
7
23
212
·2
1
-1
0
·1
17
1
3
2
3
1
1
15
57
260
100
54
114
6
3
·2
4
0
4
15
6
4
9
100
59
·38
69
8
-215
25
75
120
185
·112
.J09
45
80
-31
19
15
-484
76
43
-82
100
98
·10
.............. ....-..,..... ..,
--" - _""
(
2.830
2,695
19.9
46.3
2,575
2.774
2,238
29.4
7.9
1,830
1,635
164
21.6
78
54.0
339
34.6
3.7
37.4
111
05.2
1,805
16.5
14
8.1
1.493
13.0
60
1,722
10.3
6.0
1,681
1,542
17.5
33.5
38
1,163
18.1
190
-13
3
125
33
94
331
7
-244
138
137
13
44
61
-0
143
-226
73
-17
131
14
-69
74
6
-6
fllghlglobal.com/ab
2
5
8
13
-8
-23
3
6
-3
2
1
-41
7
4
-8
10
10
·1
0
10
2
9
27
1
-19
13
11
1
4
6
-0
16
-16
9
-2
13
1
9
11
1
·1
41.5
-10-
Dec 11
Dec 11
Sep11
Dec 11
Dec 11
Dec 11
Dec 11
Oct 11
Dec 11
Dec 11
Dec 11
Dec 11
Dec 11
Oct 11
Dec 11
Sep 11
Dec 11
Dec 11
Dec 11
Dec 11
Dec 11
Oct 11
Dec 11
Jun 11
Dec 11
14.1
1,195
5.2
33
1,213
1,070
1,071
141.2
20.7
14.3
15.4
690
28.2
850
951
1
7.2
45.1
-99.9
740
6.4
74
669
1,176
-7.8
-20.2
2.4
99
22.2
73
6.1
Source: Airline Business estimate
Source: RAS
Based on reported quarters fO( calendar year
Source: US DOT
Jun 11
Sepl1
1,007
.1
Mar 12
Dec 11
Dec 11
Dec 11
Dec 11
Dec 11
Dec 11
Mar 12
Dec 11
Dec 11
Mar 12
Mar 12
Dec 11
Dec 11
Mar 12
Dec 11
Dec 11
Mar 12
Dec 11
Dec 11
Mar 12
Dec 11
Oct 11
Source: Afrllne Business estimate
Source: Airline BusIness estimate
Source: SINA
Source: US DOT
Source: Airtlne Business estimate
Source: Airtine Business estimate
Source: Airtine Business estimate
Source: Airtine Business estlmate
Source: Airline BusIness estimate
Source; AMine Business eSllmate
-
I
August 2012 I Airline Business I 49
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
WORLD AIRLINE RANKINGS FINANCIAL
......
TOP AIRLINE GROUPS RANKED BY REVENUES 2011: 101 TO 150
......... a.ne-c"') o,r...ttca..)
lOU (2010)
101 (103) Ae, ean Alrtlnes
Greece
102 (112) 5unExpNU
103 (97) M erldlanafly
Turl<ey
104 (128l Azul Uneas Aereas r."
Brazil
105 (91) Czech Airlines
106 (101) Kuwait Airways
Czech Rep
11a~
.....
InUU
lOU
934
931
904
900
19.7
38.1
6.1
71.5
·14.5
7.8
16.1
28.5
-43
855
846
107 (107) Icelandalr Group
Iceland
838
108 116) Splcojet
India
836
109 (109) Air Nostrum
Spain
807
tiO (125) Polar Air Careo
111 (117) Cebu Pacillc Air
USA
Philippines
800
112 (104) AlrAlCerle '"
Algena
113 (98)
114 (115) Air ABIana
USA
Kazakhstan
115 (121) Oman Air
Oman
775
773
765
749
745
730
WOI1d Airways
116 (118) AIteCIant Air
USA
ti7 (113) Air Transport Services USA
118 (99) Mesa Airll....
USA
U9 (108) Iran AI, b\"
Iran
785
715
700
700
120 (110) SrlLankarl Alrli....
50 Lanka
121 (105) Tunlsalr
122 (124) Air Arabia
Tunisia
UAE
696
123 (122) Air Wisconsin
USA
660
124 (140) Inteojet "·
Me~co
125 (135) TRIP Llnhas Aereas r.0 Brazil
659
650
126 (114) EvellCreen Int'l Airlines USA
642
127 (120) Middle East Airlines
lebanon
128 (123)
129 (132)
130 (136)
131 (119)
132 (129)
Mauritius
635
623
621
620
Air Mauritius
Jet2.com
Juneyao Alrtlnes
Corsairfly ~ '
Sprlng Alrll.... ..•
UK
ChIna
France
China
133 (127) Omni Air International USA
134 (126) luxair Ea'
luxembourg
135 (139) Thai AlrAsla
136
134
AI, 00
137 (131) Air Austral ~.
Thaiiand
Japan
Reunion
138
139
140
141
(13O)
(153)
(133)
(143)
latvia
USA
Sin
Thailand
AirBaltle " ·
Centurion Air Carc:o
nCer Airways
Ban&:kok Airways
142 (141) Bimon BanCI_
Bangladesh
France
144 (152) indonesia AlrABia
indonesia
145 (146) Blue Panorama Airlines Italy
146 (145) Air Caralbes
Guadeloupe
143 (142) XL Airways FrallC8
147 (144) 0_.
148 (138) Tarom Ea'
149 (149) SoIaseed Air
150
(150) Air PIdIIc
50 I Airline Business t August 2012
Spain
Romania
Japan
Fgi
663
600
800
583
550
549
547
525
525
502
495
466
451
423
422
421
414
409
375
371
365
15.8
43.5
21.5
3.3
-6.3
17.3
25.7
17.2
9.4
-12.0
0.0
0.9
-5.0
16.4
12.1
63.2
46.3
-2.2
5.2
7.8
24.4
39.8
-3.2
17.7
10.0
1.9
35.5
21.8
5.0
3.8
77.6
5.4
24.2
12.0
8.8
38.8
24.7
14.0
10.7
0, . . . . 0')
2011 2010
4 .6
-145 -16.0
-105 -12.2
·280 -33.1
41
4.9
-110 -13.1
-2.1
-3.6
-6.4
-7.5
0.7
-34.5
7.1
4.7
2011
-38
-155
-50
-280
38
-126
-15
o
82
-43
69
-252
64
83
33
0.0
10.4
-5.6
2.1
9.0 13.8
-33.6 -29.1
8.6 13.7
8.6 12.2
4.6
4.6
-169 -24.2
-68
-9.7
50
7.6
16
2.4
44
0.4
6.9
37
6.0
20
0.0
22.2
84
-52
59
-286
64
23
-58
75
14
-13
64
-41
37
45
13.1
8.2
·7
-1.4
18.5
-4
-67 -13.5
57 12.2
-27
-6
7.6
12.8
-2.7
-84
43
·27
17
4.0
11.3
-8
16
-1.8
3.8
1.8
6.3
2.2
4.0
<l.6
2.6
Not..
2010 .. end:
-31
-7
-61
-50
-8
-268
42
22
Dec 11
Dec 11
Dec 11
Dec 11 SOurce: Airline BusJness est
Dec 11
Mar 12
Dec 11
Mar 12
24 Dec 11
o Dec 11
154 Dec 11
Dec 11
-13 Dec 11
77 Dec 11
-202 Dec 11
85 Dec 11
40 Dec 11
-271 June 11
Mar 12
SOurce: US DOT
Source: Airline Business est
SOurce: US DOT
Source: US DOT
Based on yeaf to June 11
Source: Airline Business est
-9 Mar 12
-83
13.0
0.4
17.6
4.7
72
3.5
4.0
<l.7
9.6
8.4
19.1
-3.2
12.7
15.0
3.7
3.8
-7.5
19.6
19.0
..... r...et( . ., , . . . .
28
66
28
-6
12
-3
37
35
60
11
61
84
Dec 11
Dec 11
Dec 11
Dec 11
Dec 11
Dec 11
Dec 11
13 Mar 12
Source : US DOT
Source: Airline Business est
Source: Airline Business est
Source: US DOT
25 Mar 11
Dec 11
·170 Sep 11
70 Dec 11
71 Dec 11
Dec 11
64 Dec 11
13 Mar 12
Source: AIrline BusIness est
Source: AIrline Business est
Source: US DOT
Source: Airline Business est •
Mar 12 Source: Airline Bus/ness est
Dec 11 Source: Airline Business est
53 Dec 11 Source: US DOT
30 Mar 12
25 Dec 11
-11 Jun 11
Source: FInance ministry
-J.
-11 Oct 11
52 Dec 11
Oct 11
9 Dec l 1
16 Jui 11
·105 Dec 11 Source: Airline BusIness est
9 Mar12
14 Mar12
flightglobal .com/ ab
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
-
- -
ALPHABETICAL USTING OF THE TOP 150 AI RUNE GROUPS: 2011
Aegean Airlines
101
68
AerUn&ul
Aoroflot
Aerollneas Argentinas
Aeromexk:o
Air Algerie
Air Arabia
Air Astana
Air AUlttaa
Air Bertin
Air Canada
AJr Caraibet
AIr China
Air Do
Air Europa
Air
Franc~LM
Group
Air India
Air Mauritius
Air New Zealand
AlrNOItrum
Air Pacific
Air Transat
Air Tranaport Services
Air Wisconsin
AlrAsla
IAirBattlc
Alaska Air Group
AJltalia
Alle~antAI'
AMR Corporation
ANA Group
~Aslana Alrtlnes
Atlas AI,
AvlancaTaca
Azul Alrlln81
I BanCkok Airways
Blman Bangladesh
Blue Panorama Airlines
32
87
56
112
122
114
137
28
19
146
12
136
65
4
48
128
46
109
150
59
117
123
79
138
40
33
116
6
8
34
83
43
104
141
142
145
Brussels Airlines
Cargolux
Cathay Pacific Group
Cebu Pactflc AI,
Centurion Air Cargo
China Airlines
China Eastern Airlines
China Southern Airlines
Condor
CopaAirlinos
Corsalrfly
CSA Czech Airlines
Delta Air Unea
EasyJet
Egyptalr
E1Ai
Emirates Group
EthloPan Airlines
Etillad Airways
EVAAJr
Evergreen Int'l Airlines
FedEx Express
Annalr
Aybo
Garuda Indonesia
139
38
16
14
67
66
131
105
3
30
77
61
9
75
41
45
126
Kenya Airways
Kingfisher Airlines
Korean Air
Kuwait Airways
LAN Airlines
UonAI,
LOT Polish Airlines
Lufthansa Group
Luxalr
Malaysia AJrtlnes
Meridiana fly
Mesa Airlines
Middle Easl Airlines
Monarch Airlines
Nippon Care:o Alrtlnes
Norwedan
Oman Air
5 Omnl Air International
58 0_1
Gulf Air
96 Polar Air Cargo
42 Qantas
72 Qatar Airways Group
107 Repubtlc Airways Holdings
Indonesia AlrAst.
144 Royal Jordanian Alrtlnes
124 Ryanalr
Inte~et
International Air1ines Group
Iran Air
Japan Airlines Group
Jazz
Jet Airways
aUlde to the elements
REVENUE
~a.. consoIkJaleCl~ for&roupsasawnoie.
lrlCIod".oontIb.st.oonsfromstbsldlarlesandflOfHllrline
operalM;m. Ho¥oeoIer,fOfbroadfreletllortraYeloperatlOOS,
whe!eonlyatractlOtlofthrtp'PIsI!WOlYedlnalrlr8oSpoft
{ea:Uf'S,~£J!presS),resultsl\aYebeentr.oenrorthe
~ annual
PERCENTAGE CHANGE IN REVENUES
ThaIlrsts.etof~cI1Iqel\gutesfortheTOPl50
8I'tIaNenin local CUrt1lllC)'to..-oid dlstortlOl'lS from
lIoctU8lq~l3tes.Thesecondselofl'Cures&i'o'eS
t/"II~WlUSSCOfWe(\edatthelr !Mlrajel3teforthe
fiightglobai.oomj ab
17 Juneyao Airlines
111 Kalttta Air
GOl Unhas Aereas
uledlnlheflnlncl8lmnkirW·
)'88flnqueslJOn,
63 JetBlue "'rways
Halnan Alrtlnes Group
Hawaiian Airlines
IcelandlHr Group
IndiGo
St8tlslJclfo(\heindMdual~81r1enesgiventheir
e.,IIne dMsIon~,
AJIIlM!nUeS are llanslated Into USS at the
rate lor the J,IYen ftnaraal year.
80 Jet2
98 Pakistan International Airlines
53 Philippine Airlines
36 Pinnacle Alrtlnes
Thlallrstpartofthe8lYlll81WOf1dAlrhneRanklrcsfo<:uses
exclus/Yalyonlfoupllnanci&lresu/ts,Wlthoperatlr'C
0\III'I, more detailed f8I'lIorC, Below Is 8
-- -
--
88 Royal Air Maroc:
7 S1 Airlines
SAS Group
Saudla
Shandong Airlines
Singapore Airlines Group
119
11
71
51
129
37
130
82
85
89
20
106
29
96
91
1
134
35
103
118
127
100
92
62
115
133
147
81
70
84
110
13
23
57
73
93
26
74
24
31
78
18
Skymark Airlines
SkyWest Airlines
Solaseed Air
South African Airways
Southwest Airlines
SpIcoJot
Spirtt Airlines
SprInc Airlines
Srilankan Airlines
SunExpress
TAM Unhas Aereas
TAP Portugal
Ta ....
Thai AlrAsla
thai Airways Intemational
Thomas Cook Airlines (UK)
Thom&OO Airways
Airways
nee,
Transaero Alrtlnes
TRIP Unhas Aereas
Tunlsalr
Turkish Alrtlnes
95
44
149
50
10
108
90
132
120
102
21
49
148
135
25
76
54
140
55
125
121
22
Untted Continental HoIdlncs
27
15
UPS Airlines
US Airways
UTair Aviation
Vietnam Alrflnes
VIrgin America
V1rg1n Australia
VJrg1n Atlantic Group
VolgMlnepr Airlines
Vueling Airlines
WesUet Airlines
WlzzAlr
World Airways
XL Airways France
64
60
94
47
39
69
86
52
99
113
143
OPERAnNG AND NET RESULT
MAINUNE REVENUES BY DIVISION
The opef8l.-.resuIt Is taken as tha profit or loss from
operatIonsaftefnormal expenses InciudIr'CdeJntlalJOn,but
beforeftoancect\afges,exceptloneilU!mS8ndIall.IiO<M!vef,
not aU groups gMI suffictentde\.ails ofthe!reocounts to
ensure thaI thiS delll'lltlon Is lollO'loedIn aU cases and us
GAN'aru1butesopel'ltiOl'l8lelemernsofSpeciatchargesto
opetBtJ!CCOSIll. The net result IS after aU COSIll and
ThedMSIOMIrevenuespiitseenerallyreiatelO\heperent
memlme canier "",th." the &rOUP (ecAmel'iCan Ntlinel ....ithln
~ltemsandcontr1butJOnSfromsubsldltlries.1n
AMR),andcanbere8d~thepas~ranku"Cs.
HoweY8f, where 8 &rOUP 15 highly segmented, the rcures
sepamte dMSIMS leg llll'thansa cargo,
eotrespOnd to \he
TecMk).
PERIOD
==::=!::CS~~~from
5takesln the&lObal distribution systemS
Resutts are OIer \he latest IInanciaI ~to lheendottha
month shown. Returns from fT1id.year onwards I'I<We been
inCluded where \here are no later ligures,
OPERAnNG AND NET MARGINS
SOURCES AND ESnMATES
The IMrglrIS shoW proIItsorlosse$asa pef'CfIfltageof
revenues ellow\l'W oompansons between the performance of
dtlTefeot groups, How8Yef, differences In national aocounbrW
standards mean that direct compansons should be handled
Wlthcautlon
Most results I\aIIe been takeo from reports submltI8d or
pubitshedl1tthe8lflll'legl'OUps. Othersourceslnclllde
retumsto ~torybodies, suches ICAQ, the US DoT or
other nabooal cMllM&\IorI bodies, jlft!SS statements and
othefpubhshedreportS.ESbmalesbasedon8l"l8fyslsof
hlstorltalltaflic.lVlancialan:Jtleetdata,andreg.onattrends
have been made forcamen where no ~resarelMlllabie
August 201.2 I Airline Business I 51.
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.