The Evolving Air Transport Industry

12 INTRODUCTION TO AIR TRANSPORT ECONOMICS
Table 1.9 The top 25 airlines by operating profit margin (2004 and 2005)
2004 2005
Rank Airline "/0 Rank Airline %
1 Gol 34.0 1 Gol 23.3
2 AirAsia 30.2 2 Custom Air 22.5
3 Copa Holdings 28.3 3 Ryanair 21.8
4 Ryanair 27.1 4 AirAsia 20.4
5 Custom Air 26.8 5 Lynden 18.0
6 Skywest 24.6 6 Republic Airways Holding 17.5
7 Lynden 22.4 7 Southern 17.4
8 AirBalric 22.2 8 Copa Holdings 17.3
9 OmniAir 22.1 9 OmniAir 16.5
10 Kalitta 20.8 10 Tradewinds 16.1
11 Tradewinds 20.3 11 Sierra Pacific 15.3
12 Ameristar 18.0 ]2 Kenya 14.6
13 Republic Airways Holding 16.8 13 Jazz Air 12.7
14 Kenya 16.6 14 American 12.5
15 Emirates Group 16.2 15 Astar 12.5
16 American Eagle 16.1 16 Kalitta 12.4
17 Jet 15.8 17 Air Mauritius 12.2
18 Astar 15.1 18 Emirates Group 12.1
19 Virgin Blue 14.8 19 Atlas Air Worldwide Holdings 11.9
20 Air Mauritius 14.0 20 Wideroe 11.8
21 Air China 13.7 21 AirBalric 11.5
22 ExpressJet Holdings 13.6 22 ATI 11.4
23 Thai 13.5 23 Mesa Air Group 11.4
24 Air Greenland 13.3 24 Skywest 11.2
25 Cathay Pacific 12.7 25 Evergreen 10.9
Source: Compiled by the authors from the ATW World Airline Report, 2005.
The global airline industry is well on the road to recovery, with lATA forecasting a
global net profit in 2007-the first since 2000. This global profit is largely spurred by
a forecast that the North American market will break even. This is critical to global
profitability because this market represents roughly 40 per cent of the world's aviation.