The world's nine most profitable airlines reported a combined net profit of $25.11 billion (€22 billion) for their latest financial year, according to an analysis by Dubai-based investment firm One Investments. This figure reflects earnings prior to the onset of the Iran war, which has since impacted the aviation sector significantly.
Key Details
Emirates Airlines led the rankings with a record net profit of $5.4 billion (€4.7 billion) for the first quarter of this year, marking its best performance in history. Chairman Sheikh Ahmed bin Saeed Al Maktoum acknowledged the challenges posed by the conflict, particularly after Gulf airspace was shut down at the end of February. Delta Air Lines followed closely, reporting a net profit of $5 billion (€4.3 billion), solidifying its position as the top U.S. carrier. United Airlines reported $3.4 billion (€3 billion) in profits.
Background
In Europe, Ryanair achieved a profit of €2.26 billion, a 40% increase driven by rising fares. Turkish Airlines earned approximately $2.4 billion (€2.1 billion) despite a decline in profit, while Singapore Airlines reported $2.1 billion (€1.8 billion), which included a one-off accounting gain related to the Air India-Vistara merger. Qatar Airways, Cathay Pacific, and Japan's ANA rounded out the list with profits of $1.94 billion (€1.7 billion), around $1.27 billion (€1.1 billion), and about $1.1 billion (€963 million), respectively.
The ongoing conflict in Iran is likely to disrupt airline operations and affect profitability in the aviation sector, particularly for carriers operating in and around the Gulf region. Investors will watch for updates on air traffic and operational adjustments as the situation develops, particularly in light of the significant earnings reported prior to the conflict.