The world’s largest airlines now call Latin America and Asia home, which reflects the diminished role of U.S. airlines and the emerging power of high-growth countries.
The International Transport Association revealed the world’s biggest carriers (measured by market capitalization) are: 1) Air China 2) Singapore Airlines 3) Cathay Pacific 4) China Southern and 5) LATAM. U.S. carrier Delta was next on the list.
LATAM is the conglomerate created from the recently announced merger between Chile’s LAN and Brazil’s TAM airlines. LATAM has a market capitalization value of $11 billion tying it with China Southern and ahead of Delta Airlines that came in at $10 billion.
Latin American air carriers posted profits close to $1.2 billion thus far this year, but like all other carriers face an uphill battle with rising fuel prices and budget minded travelers.