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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)

Lufthansa Group

Germany

(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

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

-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

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

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

-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. HooeoIer,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.