U.S. airline Southwest is by far the most profitable low-cost carrier in the world, with a net profit of 2.3 billion U.S. dollars in 2019. Irish carrier Ryanair was the second most profitable with 719 million for the same year. These two airlines were the most profitable low-cost carriers by a significant margin.
Low-cost carriers
Low-cost carriers are an increasingly important component of the global air travel industry, almost doubling their market share since 2006 to 31 percent in 2019. They differ from traditional full-service carriers through charging additional fees for services such as checked baggage, food and beverages, and entertainment, allowing for cheaper base ticket prices. This business model means that a significant portion of low cost carriers’ revenue is derived from ancillary services – comprising well over one third of total revenue for some airlines.
Global low-cost carrier market
Southwest and Ryanair are also the largest low-cost carriers in terms of total revenue and seats offered. On these metrics though, the distance between these two and other low cost-carriers is narrower. This gap is likely to close further in future, with Asian low-cost carriers growing at a much faster rate in 2019 than established carriers in the more developed low-cost markets of North America and Europe.
Leading low cost airlines worldwide in 2019, based on net profit (in million U.S. dollars)*
* The ranking is limited to the 70 largest air carrier groups worldwide in 2019 by revenue. Values are for the fiscal year ending December 2019, excluding Ryanair ((fiscal year ends March 2019), EasyJet (fiscal year ends September 2019), IndiGo (fiscal year ends March 2019) and Wizz Air (fiscal year ends March 2019).
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Flight Airline Business. (October 31, 2020). Leading low cost airlines worldwide in 2019, based on net profit (in million U.S. dollars)* [Graph]. In Statista. Retrieved October 06, 2024, from https://www.statista.com/statistics/716361/net-profit-of-low-cost-carriers-worldwide/
Flight Airline Business. "Leading low cost airlines worldwide in 2019, based on net profit (in million U.S. dollars)*." Chart. October 31, 2020. Statista. Accessed October 06, 2024. https://www.statista.com/statistics/716361/net-profit-of-low-cost-carriers-worldwide/
Flight Airline Business. (2020). Leading low cost airlines worldwide in 2019, based on net profit (in million U.S. dollars)*. Statista. Statista Inc.. Accessed: October 06, 2024. https://www.statista.com/statistics/716361/net-profit-of-low-cost-carriers-worldwide/
Flight Airline Business. "Leading Low Cost Airlines Worldwide in 2019, Based on Net Profit (in Million U.S. Dollars)*." Statista, Statista Inc., 31 Oct 2020, https://www.statista.com/statistics/716361/net-profit-of-low-cost-carriers-worldwide/
Flight Airline Business, Leading low cost airlines worldwide in 2019, based on net profit (in million U.S. dollars)* Statista, https://www.statista.com/statistics/716361/net-profit-of-low-cost-carriers-worldwide/ (last visited October 06, 2024)
Leading low cost airlines worldwide in 2019, based on net profit (in million U.S. dollars)* [Graph], Flight Airline Business, October 31, 2020. [Online]. Available: https://www.statista.com/statistics/716361/net-profit-of-low-cost-carriers-worldwide/