Q4 Operating Margins … So Far
| Airline | Q4 Operating Margin Excluding Special Items | |
| 1 | Gol | 26.50% |
| 2 | Azul | 24.10% |
| 3 | Volaris | 20.20% |
| 4 | Allegiant | 20.10% |
| 5 | Air Arabia | 16.70% |
| 6 | Copa | 15.70% |
| 7 | Spirit | 13.40% |
| 8 | Delta | 12.40% |
| 9 | IAG | 12.30% |
| 10 | LATAM | 12.20% |
| 11 | Southwest | 11.60% |
| 12 | Alaska | 11.30% |
| 13 | JetBlue | 11.20% |
| 14 | Japan Airlines | 10.90% |
| 15 | AirAsia | 10.30% |
| 16 | Aeromexico | 10.10% |
| 17 | VietJet | 10.10% |
| 18 | Singapore Airlines | 10.00% |
| 19 | Hawaiian | 9.30% |
| 20 | United | 9.10% |
| 21 | Avianca | 8.60% |
| 22 | VivaAerobus | 8.40% |
| 23 | American | 7.70% |
| 24 | All Nippon | 7.70% |
| 25 | IndiGo | 7.70% |
| 26 | Air New Zealand | 6.00% |
| 27 | Pegasus | 5.90% |
| 28 | Wizz Air | 5.40% |
| 29 | Ryanair | 4.80% |
| 30 | EVA Air | 4.50% |
| 31 | Korean Air | 4.20% |
| 32 | Turkish Airlines | 4.20% |
| 33 | Finnair | 4.00% |
| 34 | Lufthansa | 3.50% |
| 35 | Air Canada | 3.30% |
| 36 | Air France/KLM | 1.50% |
| 37 | Air Mauritius | 0.80% |
| 38 | SpiceJet | 0.60% |
| 39 | Aegean | 0.50% |
| 40 | China Airlines | -0.30% |
| 41 | Thai Airways | -1.20% |
| 42 | AirAsia X | -1.30% |
| 43 | Aeroflot | -7.50% |
| 44 | SAS (Nov-Jan) | -7.80% |
| 45 | Nok Air | -9.20% |
| 46 | Icelandair | -11.50% |
| 47 | Bangkok Air | -12.10% |
| 48 | Jazeera | -13.40% |
| 49 | Norwegian | -13.40% |
| 50 | Jeju Air | -15.10% |
| 51 | Asiana | -15.70% |
| 52 | Jin Air | -33.20% |