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Aviation History
2003
2003 - 2302.PDF
Cover story THE AIRLINE BUSINESS TOP 50 AIRLINE GROUPS RANKED BY REVENUES - 2002 Ranking (02) (01) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 (D (2) (4) (3) (5) (7) (6) (8) (9) (10) (11) (17) (12) (13) (18) (16) (15) (20) (19) (21) (22) (14) (24) (25) (23) (27) (29) (55) (32) (28) (30) (33) (26) (34) (36) (31) (35) (38) (37) (39) (48) (49) (40) (46) (41) (42) (44) (50) (43) (52) Group/Airline AMR Corp/American Airlines Japan Airlines System Corp Lufthansa Group United Airlines Delta Air Lines Air France Group British Airways ANA Group Northwest Airlines Continental Airlines US Airways SAS Group KLM Air Canada Corp Singapore Airlines Group Qantas Airways Southwest Airlines Korean Air Alitalia Iberia Airlines Cathay Pacific Airways Air New Zealand Group Saudi Arabian Airlines Thai Airways International Cintra Air China Group Emirates Swiss International Air Lines Austrian Airlines Group Alaska Air Group Malaysia Airlines China Southern Airlines Virgin Group China Airlines Asiana Airlines America West Holdings Varig EVA Air Finnair China Eastern Airlines EIAI THY Turkish Airlines LanChile South African Airways Aeroflot Russian Airlines ATA Holdings/AmTran TAP Air Portugal Air-India Aer Lingus TAM Holding Country USA Japan Germany USA USA France UK Japan USA USA USA Sweden Netherlands Canada Singapore Australia USA South Korea Italy Spain China New Zealand Saudi Arabia Thailand Mexico China UAE Switzerland Austria USA Malaysia China UK Taiwan South Korea USA Brazil Taiwan Finland China Israel Turkey Chile South Africa Russia USA Portugal India Ireland Brazil Revenues $ million change 17,299 17,244 16,123 14,286 13,305 12,697 11,940 10,063 9,489 8,402 6,977 6,754 6,490 6,269 5,966 5,946 5,522 5,047 4,600 4,464 4,245 3,338 3,000 2,990 2,942 2,803 2,788 2,771 2,278 2,224 2,219 2,178 2,176 2,120 2,078 2,047 1,929 1,873 1,616 1,581 1,520 1,496 1,452 1,434 1,433 1,277 1,232 1,143 1,112 1,111 -8.8% 2.7% 1.7% -11.5% -4.1% 1.3% -7.8% 0.9% -4.2% -6.3% -15.8% 26.3% -0.7% 2.2% 12.1% 11.1% -0.6% 10.2% -9.2% -0.8% 8.7% -44.4% est. -0.1% -5.1% 20.9% 31.0% 233.7% 10.4% 3.3% 5.2% 6.7% -6.5% 4.6% 16.0% -0.9% -4.7% 23.1% 1.2% 7.6% 37.7% 36.6% 1.7% 26.1% 0.9% 0.1% 3.5% 9.8% -11.6% 19.4% Op result $ million 2002 -2,622.0 87.6 1,512.4 -2,688.0 -904.0 192.2 458.1 -21.5 -411.0 -58.0 -994.0 758.6 -133.1 -139.1 406.9 356.7 417.3 238.4 -112.1 236.7 609.4 523.7 433.2 307.7 306.1 -588.7 39.3 -88.9 31.3 244.9 75.6 153.0 139.6 -141.1 -924.4 146.7 57.0 101.2 3.5 83.0 62.1 -199.0 -70.1 47.3 -40.3 63.8 -303.8 -19.2% 0.5% 9.4% -19.9% -9.8% 1.5% 3.8% -0.2% -8.9% -3.7% -18.9% 11.2% -2.1% -2.2% 6.8% 6.0% 7.6% 4.7% -2.4% 5.3% 14.4% 15.7% 14.5% 10.5% 11.0% -21.2% 1.7% -4.0% 1.4% 11.2% 3.5% 7.2% 6.7% -7.8% -47.9% 7.8% 3.5% 6.4% 0.2% 5.6% 4.3% -13.9% -5.5% 3.8% -3.5% 5.7% -27.3% Operating margin 2001 2002 -13.0% -0.1% -1.9% -23.4% -11.5% 1.9% -1.3% 1.9% -8.8% 1.6% -20.3% 6.2% -1.4% -7.6% 9.9% 6.8% 11.4% -3.7% -5.5% 0.1% 2.7% 13.2% 9.5% 10.2% 9.5% -23.3% -4.1% -5.9% -5.8% 8.3% 0.1% 4.7% 2.0% -20.2% -14.3% 0.6% 0.8% 7.2% 20.8% -10.3% 3.5% 7.2% -19.7% -1.4% 1.6% -1.1% -3.8% 1.4% -2,622.0 87.6 1,512.4 -2,688.0 -904.0 192.2 458.1 -21.5 -411.0 -58.0 -994.0 758.6 -133.1 -139.1 406.9 356.7 417.3 238.4 -112.1 236.7 609.4 523.7 433.2 307.7 306.1 -588.7 39.3 -88.9 31.3 244.9 75.6 153.0 139.6 -141.1 -924.4 146.7 57.0 101.2 3.5 83.0 62.1 -199.0 -70.1 47.3 -40.3 63.8 -303.8 Net result 2001 -2,622.0 87.6 1,512.4 -2,688.0 -904.0 192.2 458.1 -21.5 -411.0 -58.0 -994.0 758.6 -133.1 -139.1 406.9 356.7 417.3 238.4 -112.1 236.7 609.4 523.7 433.2 307.7 306.1 -588.7 39.3 -88.9 31.3 244.9 75.6 153.0 139.6 -141.1 -924.4 146.7 57.0 101.2 3.5 83.0 62.1 -199.0 -70.1 47.3 -40.3 63.8 -303.8 Period to end: Dec-02 Mar-03 Dec-02 Dec-02 Dec-02 Mar-03 Mar-03 Mar-03 Dec-02 Dec-02 Dec-02 Dec-02 Mar-03 Dec-02 Mar-03 Jun-02 Dec-02 Dec-02 Dec-02 Dec-02 Dec-02 Jun-02 Dec-02 Sep-02 Dec-02 Dec-02 Mar-03 Dec-02 Dec-02- Dec-02 Mar-03 Dec-02 Apr-03 Dec-02 Dec-02 Dec-02 Dec-02 Dec-02 Dec-02 Dec-02 Dec-02 Dec-02 Dec-02 Mar-02 Dec-02 Dec-02 Dec-02 Mar-03 Dec-02 Dec-02 | •• Note: adapted from a table that first appeared in the September 2003 issue of sister publication Airline Business. Ranking is based on mainline airline groups only and excludes travel and cargo companies that would otherwise appear in the rankings. Financial table notes: excludes exceptional items including major divestments and acquisitions. Mainline airlines exclude charter and cargo airlines. DEFINITIONS Revenue: converted into US dollars at the annual average rate of exchange for the entire financial year. Change: percentage change in revenue, given in local currency to avoid distortions from currency fluctuation. Op result: the operating result, taken as the profit or loss from operations (after normal expenses including depreciation, but before finance charges, exceptional items and tax). Not all groups give sufficient details of accounts to ensure that this definition is followed in all cases. Net result: after all costs and exceptional items and contributions from subsidiaries. Op margin: operating margins, showing profits or losses as a percentage of revenues allowing comparisons between the performance of different groups. Net margin: margin after all costs and exceptional items and contributions from subsidiaries. Year end: results are for the reporting year 2000, ending in the month shown. Sources: results are taken from published annual reports wherever available. For non-listed companies, figures have been collated from press statements and other sources, including lATA's World Air Transport Statistics. 44 14-20 OCTOBER 2003 FLIGHT INTERNATIONAL www.flightinternational.com
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