Top 10 Largest Airlines in the World at the Beginning of 2023

According to Companies Market Cap, the airline with the largest market capitalization in the world is Delta Air Lines, at US$22.05 billion or approximately Rp344.33 trillion as of January 5, 2023 (exchange rate Rp15,616/US$).

The United States-based airline is also included in Fortune's *World's Most Admired Companies 2022*. Delta Air Lines received this title for nine consecutive years, ranking 18th globally and topping the airline group.

Here is a complete list of the 10 airlines with the largest market capitalization in the world as of January 5, 2023:

1. Delta Air Lines: US$22.05 billion
2. Air China: US$20.03 billion
3. Southwest Airlines: US$19.96 billion
4. Ryanair: US$18.72 billion
5. China Southern Airlines: US$18.46 billion
6. China Eastern Airlines: US$13.21 billion
7. United Airlines Holdings: US$12.98 billion
8. Singapore Airlines: US$12.37 billion
9. Hainan Airlines: US$11.58 billion
10. Turkish Airlines: US$10.55 billion

Although there are 59 rankings in total, none of the airlines from Indonesia are included in this list. The bottom two rankings are occupied by Air Asia (Malaysia) with a market capitalization of US$88.6 million and Mesa Air (United States) with US$72.75 million.