Fakoyejo OlalekanThe top five most profitable airlines in the world generated $9.97 billion in 2022, with the United States accounting for two airlines on the list.
Prime Business Africa notes that the profits of these airlines are driven by the number of fleets available for air travel and how many countries are willing to open their airspace to them.
Some of the companies that made the list operate flights into Nigeria, but domestic airlines in Nigeria were conspicuously missing from the list.
Southwest Airlines
Starting off the list from the bottom is Southwest Airlines, a United States airline that grossed $723 million as profit at the end of 2022.
- Southwest Airlines, established 56 years ago, is lifting air travel passengers to 121 destinations with the use of its 802 fleet
- The company which began operation as an intrastate airline, has grown into a corporate airline that ranks fifth on the world’s most profitable airlines.
- Southwest Airlines carved a niche to serve as a low-cost carrier, and within 56 years of its operation, it has become the world’s largest low-cost carrier, with a $21.87 billion market capitalisation.
International Airlines Group
The International Airlines Group (IAG), the parent company of British Airways, and Iberia, amongst others, is the fourth most profitable airline company as of 2022.
- With its earnings driven by British Airways and several European airline companies, the International Airlines Group reported a profit of $1.32 billion.
- International Airlines Group, was established in 2011 after British Airways and Iberia merged their operation. It became a holding company.
- The airline group later expanded its operation with the acquisition of British Midland International (BMI) from Lufthansa. It has a market capitalisation of £7.67 billion as of July 6 and trades on the London Stock Exchange.
- International Airlines Group has over 360 fleet sizes from British Airways, Iberia and British Midland International, with these companies travelling to over 180 destinations.
Lufthansa Group
Lufthansa Group is the third most profitable airline company having generated $1.63 billion between January to December last year.
- It’s no surprise the German company made the list, considering Lufthansa Group is the second-largest airline in Europe, behind Ryanair, in terms of passengers carried.
- Lufthansa is also one of the five founding members of Star Alliance, the world’s largest airline alliance, which was created in 1997.
- The company, which has about 291 fleet size, with over 163 placed on order, and travels to 310 destinations, has a €10.92 billion market capitalisation.
Turkish Airlines
Also on the list of the most profitable airlines in the world is Turkish Airlines, taking the second position on the list with $2.7 billion reported as profit grossed from the first quarter (Q1) to the fourth quarter (Q4) in 2022.
- Last year was an impressive period for Turkish Airlines, a company that flies into 340 destinations in about 126 countries thanks to the company’s 400 fleet.
- The 90-year-old airline company is the largest mainline carrier in the world by number of passenger destinations, according to Wikipedia.
- Turkish Airlines also serves more destinations non-stop from a single airport than any other airline in the world. It is a member of the airline cabal, Star Alliance network, with a market valuation of ₺302.03 billion.
Delta Air Lines
Delta Air Lines generated a whopping $3.6 billion last year to take the first position as the most profitable airline company in the world.
- The United States airline operator was able to earn such a return on the back of its fleet size of 931, which travels to 325 destinations across the world.
- Founded in 1925, Delta Air Lines, by number of passengers carried and passenger-miles flown, is ranked second among the world’s largest airlines.
- Delta Air Lines, a company with a market capitalisation of $31.01 billion, has acquired Northeast Airlines, Western Airlines, Pan Am and Pan Am Shuttle, during its 98 years of operation.
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