The largest airline companies around the world can be defined by several ways. There are different rating criterions such as assets revenue, market capitalization, passenger carried, destinations / countries served, number of employees and fleet size. In this study the listing is made according to market capitalization values. Thus all the companies are publicly traded companies.
Listing data is obtained from EquityRT screener.
World’s Biggest Airlines By Market Cap. Value
| COMPANY | Country | P/E | EV/ EBITDA | Market Capital (USD mn) |
| AFR | Germany | 36,3 | 5,93 | 46.281 |
| AIR FRANCE-KLM | Fransa | 27,1 | 4,63 | 34.530 |
| DELTA AIR LINES INC | USA | 8,4 | 5,21 | 25.016 |
| SOUTHWEST AIRLINES CO | USA | 28,1 | 2,33 | 16.987 |
| UNITED AIRLINES HOLDINGS INC | USA | 5,5 | 2,08 | 14.549 |
| SINGAPORE AIRLINES LTD | Singapore | 7,8 | 4,21 | 14.486 |
| AIR CHINA LTD (A) | China | 0,0 | 0 | 12.451 |
| TÜRK HAVA YOLLARI | Turkey | 3,8 | 3,89 | 11.417 |
| INTERGLOBE AVIATION LTD | India | 23,4 | 0 | 11.136 |
| CHINA SOUTHERN AIRLINES CO LTD (A) | China | 0,0 | 23,82 | 10.909 |
| DEUTSCHE LUFTHANSA AG | Germany | 6,4 | 2,97 | 10.393 |
| INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA | UK | 4,3 | 2,73 | 9.311 |
| AMERICAN AIRLINES GROUP INC | USA | 3,2 | 2,94 | 8.533 |
| CHINA EASTERN AIRLINES CORP LTD (A) | China | 0,0 | 794,27 | 8.333 |
| SPRING AIRLINES CO LTD (A) | China | 0,0 | 57,30 | 7.605 |
| QANTAS AIRWAYS LTD | Germany | 6,4 | 2,44 | 7.566 |
| QANTAS AIRWAYS LTD | Germany | 6,3 | 2,39 | 7.374 |
| QANTAS AIRWAYS LTD | Germany | 5,8 | 2,24 | 6.757 |
| CATHAY PACIFIC AIRWAYS LTD | Hong Kong | 25,1 | 3,90 | 6.716 |
| HAINAN AIRLINES HOLDING CO LTD (A) | China | 0,0 | 31,50 | 6.669 |
| QANTAS AIRWAYS LTD | Australya | 5,0 | 2,03 | 5.930 |
| QANTAS AIRWAYS LTD | Germany | 5,0 | 2,03 | 5.926 |
| QANTAS AIRWAYS LTD | Germany | 5,0 | 2,03 | 5.906 |
| LATAM AIRLINES GROUP S.A. | Chili | 2,3 | 0 | 5.825 |
| AIR CANADA | Canada | 13,5 | 2,59 | 5.245 |
| EVA AIRWAYS CORP | Taiwan | 12,6 | 2,56 | 5.051 |
Largest airlines in the world
American Airlines
American Airlines has a fleet size of 980 aircraft (2023 numbers) which makes it the largest airlane affording to fleet size. The airline operates both in America and international and serves over 50 countries worldwide.
Delta Air Lines
Delta Air Lines is an American airlane company which has a fleet of over 900 aircrafts The airline offers services to over 300 destinations across the globe.
United Airlines
United Airlines is another US based airlane with the third-largest fleet of over 800 aircraft. The airline operates both domestic and international flights and offers services to over 300 destinations.
Southwest Airlines
Southwest Airlines is the largest low-cost carrier in the world with a fleet size of over 700 aircraft. The airline operates primarily in the United States and offers services to over 100 destinations.
China Southern Airlines
China Southern Airlines is the largest airline in China and the fifth-largest in the world with a fleet size of over 600 aircraft. The airline operates both domestic and international flights and serves over 40 countries.
Air France-KLM
Air France-KLM is a Franco-Dutch airline holding company with a fleet size of over 500 aircraft. The airline operates both domestic and international flights and serves over 100 countries.
Ryanair
Ryanair is the largest European low-cost carrier with a fleet size of 470 aircraft. 82 Bases in Europe and North Africa airline operates primarily in Europe and offers services to over 34 countries.
Turkish Airlines
Turkish Airlines is the largest airline in Turkey and the eight-largest in the world with a fleet size of over 400 aircraft. The airline operates both domestic and international flights and serves over 120 countries. Turkish Airlines is top of the list by serving destinations and countries.
Lufthansa
Lufthansa is the largest airline in Germany and the ninth-largest in the world with a fleet size of over 300 aircraft. The airline operates flights to over 200 destinations across the globe.
Emirates
Emirates is the largest airline in the Middle East and the tenth-largest in the world with a fleet size of over 250 aircraft. The airline operates flights to over 150 destinations across the globe.
