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Largest Airlines Worldwide by Market Cap in 2025: Amid the recent barrage of tariffs imposed by US President Donald Trump, declining global markets, and pervasive economic uncertainty, the global aviation industry is set for a positive 2025.
According to IATA, the global airline industry is projected to surpass $1 trillion in revenue in 2025, for the first time, marking a 4.4% increase from 2024 and highlighting a strong recovery in air travel demand post-pandemic.
In a notable mention, India’s largest airline by market capitalisation, IndiGo, operated under InterGlobe Aviation, briefly ascended to the top of the global aviation market on Wednesday, April 9 (2025).
Consequently, it momentarily surpassed US-based Delta Air Lines and Ireland-based Ryanair to become the world’s most valuable airline by market capitalisation. However, it was fleeting, as IndiGo’s valuation fell to $23.16 billion at market closing, slightly behind Delta’s, according to the Financial Express.
While many US-based airlines still trade below their pre-pandemic levels, IndiGo – which surged to 170% – is one of the few global airlines whose share price has surged from its pre-pandemic levels.
Below are the top 10 largest airlines globally by market cap, as of April 2025.
| Rank | Company Name | Country | Market Cap (Indian Rupees) | Market Cap (US Dollars) |
| 1 | Delta Air Lines, Inc. | United States | ₹2.262 T | $26.31 B |
| 2 | InterGlobe Aviation Ltd (IndiGo) | India | ₹2.047 T | $23.79 B |
| 3 | Ryanair Holdings plc | Ireland | ₹2.033 T | $23.64 B |
| 4 | United Airlines Holdings, Inc. | United States | ₹1.850 T | $21.52 B |
| 5 | Air China | China | ₹1.318 T | $15.28 B |
| 6 | International Consolidated Airlines Group, SA | Spain | ₹1.291 T | $14.90 B |
| 7 | Southwest Airlines Co. | United States | ₹1.261 T | $14.66 B |
| 8 | Singapore Airlines Ltd | Singapore | ₹1.222 T | $14.14 B |
| 9 | China Southern Airlines Co., Ltd | China | ₹1.074 T | $12.50 B |
| 10 | Turkish Airlines | Turkey | ₹974.42 B | $11.32 B |
Source: companiesmarketcap.com
Please note: These rankings reflect the airlines’ market capitalizations as of April 15, 2025. Please note that market values are dynamic and can fluctuate due to various factors.
