Top Five Airlines Not in Europe or North America

World’s biggest carriers by market capitalisation not in “west” but east and south

The five biggest airlines in the world are no longer to be found in North America or Europe, according to the International Air Transport Association. They’re based in Asia and Latin America. Citing airlines’ market capitalisation values, IATA says that the world’s five biggest carriers are Air China (€15 billion), Singapore Airlines (€10.5 billion), Hong Kong’s Cathay Pacific (€9 billion), China Southern (€8.3 billion) and LATAM (€8.3 billion).

LATAM is the holding group for a recently announced merger that would combine the airlines TAM in Brazil and LAN in Chile. Delta and Lufthansa meekly follow with market capitalisations of €7.5 billion each. This global shift demonstrates the airline industry’s gradual move to “higher-growth countries”, away from North America and Europe.

“The world is changing in aviation, and it’s changing very, very quickly,” said Giovanni Bisignani, IATA’s CEO, at a news conference at the association’s headquarters in Geneva. “Rapidly developing markets are shifting the industry’s centre of gravity to the east.” Bisignani said that Asia’s rapidly growing middle class would ensure that the aviation outlook remains bright for the foreseeable future.

Demand for travel between Asia’s 15 “mega-cities that have populations of more than 10 million, is also growing fast. “Archaic” laws restricting foreign ownership in US airlines are an additional factor restricting growth there, according to Bisignani.



Check Also

Delta, airlines, United, American Airlines, pay, pilots, bonus, wage, profit share, usa, captains

Airline gives employees $1.1bn

Delta Airlines is being generous, and people working for its competitors are not too happy.

Star Alliance, airlines, digital, technology, share, data, members, mobile, app, website, seat, book, interoperability

Star Alliance improves digital inter-usability

The alliance creates a digital services platform for customers using more than one member airline.

Infare, Harald Eisenaecher, appointment, management, Lufthansa, Sabre, airfare, pricing, intelligence, technology

Top executive joins Danish airfare intelligence firm

Danish provider of intelligence worldwide appoints Sabre and Lufthansa veteran.

KrisFlyer, SIA, Singapore Airlines, blockchain, technology, wallet, spend, shopping, retail

SIA creates “blockchain-based loyalty wallet”

Singapore Airlines’ loyalty scheme will launch the “world's first blockchain-based loyalty digital wallet”.

Sunexpress, Lufthansa, Lithuania, Vilnius, Airbus, lease, Avion, Turkish Airlines, Antalya

Lufthansa venture to lease Lithuanian planes

Joint venture between Lufthansa and Turkish Airlines to lease five A320s from Vilnius.

Air China, marketing, star alliance, SAS, Beijing, Cathay, Hong Kong, CPH, Copenhagen, Denmark, new route, Chinese tourists

What the new Air China route means for Denmark

Denmark expects a surge in the number of Chinese visitors and their length of stay.