Source: MRO Global Outlook. Note: IAG (International Consolidated Airlines Group) was formed by the merger of British Airways and Iberia in 2011.
Although the size of an airline can be measured by the number of passengers or cargo it carries, such figures do not well reflect the passenger and cargo specialization of some airlines. Under such circumstances, revenue can be used as an alternative measure. North American airlines tend to be among the most profitable since they operate in an oligopolistic market with extensive demand. Still, European and Asian (Chinese) airlines have substantially increased their revenue due to the growth of their respective markets.