2012 | 2011 | Name | Country | 2012 | 2011 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|
| 1 | 3 | Emirates | United Arab Emirates | $3,700M | $3,622M | AAA- | AAA- |
| 2 | 1 | Lufthansa | Germany | $3,296M | $3,801M | AA+ | AA+ |
| 3 | 2 | Singapore Airlines | Singapore | $3,218M | $3,757M | AAA- | AAA- |
| 4 | 4 | Delta | United States | $3,013M | $3,100M | AA | AA |
| 5 | 5 | China South | China | $2,765M | $2,533M | AA- | AA- |
| 6 | 8 | United | United States | $2,763M | $2,352M | A+ | AA- |
| 7 | 9 | ANA | Japan | $2,448M | $2,175M | AAA- | AA |
| 8 | 10 | Air China | China | $2,395M | $2,047M | AA+ | AA |
| 9 | 7 | Air France | Japan | $2,341M | $2,382M | AA | AA+ |
| 10 | 6 | Cathay Pacific | China | $2,266M | $2,383M | AA+ | AA+ |
| 11 | 13 | British Airways | United Kingdom | 🔒 | 🔒 | 🔒 | 🔒 |
| 12 | 15 | Korean Air | South Korea | 🔒 | 🔒 | 🔒 | 🔒 |
| 13 | 14 | American Airlines | United States | 🔒 | 🔒 | 🔒 | 🔒 |
| 14 | 16 | Turkish Airlines | Turkey | 🔒 | 🔒 | 🔒 | 🔒 |
| 15 | 11 | China Eastern | China | 🔒 | 🔒 | 🔒 | 🔒 |
| 16 | null | Ryanair | France | 🔒 | 🔒 | 🔒 | 🔒 |
| 17 | null | Southwest Airlines | Brazil | 🔒 | 🔒 | 🔒 | 🔒 |
| 18 | 20 | Aeroflot | Russia | 🔒 | 🔒 | 🔒 | 🔒 |
| 19 | null | TAM Airlines | France | 🔒 | 🔒 | 🔒 | 🔒 |
| 20 | 18 | KLM | France | 🔒 | 🔒 | 🔒 | 🔒 |