Airlines


Rated A-Z

AeroflotRussiaB+
Air France-KLMFranceB+
American AirlinesU.S.C-
ANA (All Nippon Airways)JapanA-
Cathay PacificHong KongB-
Delta Air LinesU.S.C-
EmiratesUAEB-
FinnairFinlandB+
IAG (International Airlines)Spain-UKB+
JAL (Japan Airlines)JapanB
LufthansaGermanyB+
QantasAustraliaB
Qatar AirwaysQatarC-
RyanairIrelandC
SASSwedenA-
Singapore AirlinesSingaporeB
Turkish AirlinesTurkeyB-
United ContinentalU.S.C-

Ranked

Screenshot of ANA's annual report 2016

ANA (All Nippon Airways)JapanA-
SASSwedenA-
FinnairFinlandB+
LufthansaGermanyB+
AeroflotRussiaB+
Air France-KLMFranceB+
IAG (International Airlines)Spain-UKB+
Singapore AirlinesSingaporeB
JAL (Japan Airlines)JapanB
QantasAustraliaB
Cathay PacificHong KongB-
Turkish AirlinesTurkeyB-
EmiratesUAEB-
RyanairIrelandC
American AirlinesU.S.C-
Delta Air LinesU.S.C-
United ContinentalU.S.C-
Qatar AirwaysQatarC-

Compared

Chart comparing airline companies

Benchmarked

Chart benchmarking airline companies

Noticed

Aeroflot

The Market Overview is to the point. Strategic goals and their implementation are well explained. Risk and related management measures are made intelligible. The online version is both simple and easy to navigate. The whole report with appendices is 325 pages long.

Air France-KLM

Holds many cards to make the annual report a pleasant read: facts, design, stories, drawings, photos. However, it is only by digging into the 308-page Registration Document that the analyst/investor gets the full picture. A slower flight, as none of them is interactive.

ANA (All Nippon Airways)

Detailed dashboard, strategy made clear on financials too, good recap of historical data. All in a rather concise format. Still, it doesn’t escape the Sustainable-Growth-as-usual story.

Emirates

Another report where the word resilience has landed as a theme (and Ms. Aniston returned onboard). Looks a bit like a corporate brochure but the Financial Commentary could be put worse and ten-year stats include well-chosen ratios.

IAG (International Airlines)

Doesn’t spare readers from clichés and buzzwords (sustainable returns for shareholder value, of course). Flies higher on governance matters (read e.g. induction programme, committee reports, remuneration…). Design doesn’t really travel.

JAL (Japan Airlines)

A Top Interview (with the President) that embraces many issues.

Lufthansa

A challenge in the year ahead remains to convince all those employees… who have not yet made an active contribution to the required evolution that change is required. (Excerpt from the Executive board letter)

Qantas

Very comprehensive Remuneration Report.

Ryanair

A low-cost annual report.

Singapore Airlines

The all-encompassing profile is both long-winded and too overstretched to believe. Operating highlights are thorough, though.

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