Airline Stocks
Comprehensive List of Publicly Traded Airline Companies
While every entity in this category is an airline, there is a wide difference in the number of daily flights and the number of destinations served. Major airline companies such as American Airlines Group, Delta, and United can manage anywhere from 7,000 to 15,000 daily flights. These giants serve over 300 destinations or more when accounting for global partnerships.
There are also several regional carriers that focus on specific sections of North America. These airline companies target specific destinations in their selected region to maximize operational efficiency. It is common for these firms to have a few hundred daily flights and serve approximately 100 destinations.
Examples of regional market leaders include Alaska Air Group and Hawaiian Holdings, Inc. Investors may not immediately recognize the airline by the name of the listed entity because many are structured as holding companies. For example, American Airlines Group is the parent organization for both American Airlines and US Airways.
Key Financial Metrics for Airline Investors
When evaluating airline companies, professional analysts prioritize specific operational metrics over standard revenue figures. Revenue Passenger Miles (RPMs) and Available Seat Miles (ASMs) are the industry standard for measuring capacity and demand. Investors should also monitor the Load Factor, which indicates the percentage of available seating capacity that is actually filled by passengers.
Profitability in this sector is often dictated by Passenger Revenue per Available Seat Mile (PRASM) versus Cost per Available Seat Mile (CASM). A narrowing gap between these two figures usually signals margin compression. Furthermore, ancillary revenue from baggage fees, seat upgrades, and loyalty programs has become a primary driver of net income for modern airline companies.
Macro Factors Impacting the Aviation Sector
The financial health of airline companies is highly sensitive to external economic pressures. Jet fuel remains one of the largest variable expenses, making these stocks sensitive to volatility in global oil markets. Labor costs, particularly for pilots and maintenance crews, also represent a significant portion of operating expenses.
Additionally, the industry is increasingly divided between Legacy Carriers and Low-Cost Carriers (LCCs). Legacy firms rely on hub-and-spoke models and international routes to drive growth. In contrast, LCCs focus on point-to-point travel and high aircraft utilization to maintain a lower cost structure than their competitors.
Airline Industry Resources
Additional publicly traded companies and categories related to this sector can be accessed through the links below:
A comparison tool that shows price trends, earnings per share (EPS), P/E ratio, and beta for each of the companies on this list can be accessed below:
Airlines Industry Comparison Widget
Select a company link to access financial charts, news updates, and official website information.
Airline Companies: Large-Cap Stocks
- Alaska Air Group, Inc. (ALK) (Alaska Airlines and Horizon Air)
- American Airlines Group, Inc. (AAL) (American Airlines and US Airways)
- Delta Air Lines, Inc. (DAL) (Partners include Air France-KLM, Alitalia, Virgin Australia and Virgin Atlantic)
- Southwest Airlines Company (LUV) (Approximately 3,600 daily flights)
- United Continental Holdings, Inc. (UAL) (United Air Lines)
Airline Companies: Mid-Cap Stocks
- Allegiant Travel Company (ALGT) (Allegiant Air and Allegiant Vacations)
- Azul S.A. (AZUL) (Brazil based airline)
- Hawaiian Holdings, Inc. (HA) (Holding company for Hawaiian Airlines)
- JetBlue Airways Corporation (JBLU) (New York based airline)
- Spirit Airlines, Inc. (SAVE)
Airline Companies: Small-Cap Stocks
- SkyWest, Inc. (SKYW) (Holding company for passenger airline operators SkyWest and ExpressJet)
Related Links: