New data from Brand Finance reveals brand value recovery across the sector as international travel demand surges
LONDON, 15 April 2025 – Delta has retained its title of the world’s most valuable airline brand for the seventh year running, according to the latest report by Brand Finance, the world's leading brand valuation consultancy.
Now in its 15th year, the report is the longest-running study of its kind, ranking the world’s most valuable and strongest airline brands. This year’s research spans 30 markets, includes insights from over 30,000 respondents, and evaluates 124 brands. According to Brand Finance research, Delta’s brand value increased by 38% to USD14.9 billion, driven by strong financial performance, premium revenue growth, and continued investments in customer experience and sustainability.
Malaysia Airlines recorded the fastest brand value growth in the ranking, soaring 209% to USD607 million. After a ten-year absence from the table, the airline returns to 45th place following a remarkable turnaround centred on fleet modernisation, operational efficiency, and international expansion. Meanwhile, Saudia grew its brand value by 34% to reach USD1.1 billion, surpassing the USD1 billion mark for the first time and becoming the fastest-growing airline brand in the Middle East.
The combined brand value of the world’s top 50 airlines surged by 29% year-on-year to USD132.4 billion, reflecting the continued recovery of global aviation. As demand for long-haul and premium leisure travel outpaces budget options, full-service carriers (FSCs) are outperforming low-cost competitors in both growth and value share.
Regionally, North America continues to lead, contributing over 40% of total airline brand value. However, Asia-Pacific is the fastest-growing region, powered by Chinese carriers and increasing international demand.
Savio D’Souza, Senior Director, Brand Finance, commented:
“Airlines are capitalising on the rebound in international mobility, with the total brand value of the top 50 airlines rising 29% year-on-year to USD132.4 billion. This growth is being driven by shifting consumer preferences: premium and loyalty revenue streams now account for over half of total income at leading carriers like Delta. As demand accelerates for high-quality, long-haul travel experiences, brands that deliver reliability and service excellence are pulling ahead of the competition. However, this momentum is not without potential challenges. Economic uncertainty, including the impact of new tariffs and operational challenges like delayed jet deliveries, could dampen expansion plans and brand growth. The months ahead will be a test of how airline brands balance ambition and resilience.”
Southwest Airlines is the world’s strongest airline brand, earning a Brand Strength Index (BSI) score of 91.1/100. According to Brand Finance research, the US low-cost giant scores highly for reputation, recommendation, and customer loyalty. ANA leads among full-service carriers, with a BSI score of 86.2/100, bolstered by strong performance in its home market of Japan.
Heathrow Airport retains its position as the most valuable airport brand globally, while Singapore’s Changi Airport remains the strongest, with airports also benefiting from growing passenger volumes and infrastructure investment. The total brand value of the top 25 airport brands rose 16% year-on-year – a nearly 60% rebound since 2021.
Brand Finance is the world’s leading brand valuation consultancy. Bridging the gap between marketing and finance, Brand Finance evaluates the strength of brands and quantifies their financial value to help organisations make strategic decisions.
Headquartered in London, Brand Finance operates in over 25 countries. Every year, Brand Finance conducts more than 6,000 brand valuations, supported by original market research, and publishes over 100 reports which rank brands across all sectors and countries.
Brand Finance also operates the Global Brand Equity Monitor, conducting original market research annually on 6,000 brands, surveying more than 175,000 respondents across 41 countries and 31 industry sectors. By combining perceptual data from the Global Brand Equity Monitor with data from its valuation database — the largest brand value database in the world — Brand Finance equips ambitious brand leaders with the data, analytics, and the strategic guidance they need to enhance brand and business value.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance, compliant with ISO 20671.
Brand Finance is a regulated accountancy firm and a committed leader in the standardisation of the brand valuation industry. Brand Finance was the first to be certified by independent auditors as compliant with both ISO 10668 and ISO 20671 and has received the official endorsement of the Marketing Accountability Standards Board (MASB) in the United States.
Brand is defined as a marketing-related intangible asset including, but not limited to, names, terms, signs, symbols, logos, and designs, intended to identify goods, services, or entities, creating distinctive images and associations in the minds of stakeholders, thereby generating economic benefits.
Brand strength is the efficacy of a brand’s performance on intangible measures relative to its competitors. Brand Finance evaluates brand strength in a process compliant with ISO 20671, looking at Marketing Investment, Stakeholder Equity, and the impact of those on Business Performance. The data used is derived from Brand Finance’s proprietary market research programme and from publicly available sources.
Each brand is assigned a Brand Strength Index (BSI) score out of 100, which feeds into the brand value calculation. Based on the score, each brand is assigned a corresponding Brand Rating up to AAA+ in a format similar to a credit rating.
Brand Finance calculates the values of brands in its rankings using the Royalty Relief approach – a brand valuation method compliant with the industry standards set in ISO 10668. It involves estimating the likely future revenues that are attributable to a brand by calculating a royalty rate that would be charged for its use, to arrive at a ‘brand value’ understood as a net economic benefit that a brand owner would achieve by licensing the brand in the open market.
The steps in this process are as follows:
1 Calculate brand strength using a balanced scorecard of metrics assessing Marketing Investment, Stakeholder Equity, and Business Performance. Brand strength is expressed as a Brand Strength Index (BSI) score on a scale of 0 to 100.
2 Determine royalty range for each industry, reflecting the importance of brand to purchasing decisions. In luxury, the maximum percentage is high, while in extractive industry, where goods are often commoditised, it is lower. This is done by reviewing comparable licensing agreements sourced from Brand Finance’s extensive database.
3 Calculate royalty rate. The BSI score is applied to the royalty range to arrive at a royalty rate. For example, if the royalty range in a sector is 0-5% and a brand has a BSI score of 80 out of 100, then an appropriate royalty rate for the use of this brand in the given sector will be 4%.
4 Determine brand-specific revenues by estimating a proportion of parent company revenues attributable to a brand.
5 Determine forecast revenues using a function of historic revenues, equity analyst forecasts, and economic growth rates.
6 Apply the royalty rate to the forecast revenues to derive brand revenues.
7 Discount post-tax brand revenues to a net present value which equals the brand value.
Brand Finance has produced this study with an independent and unbiased analysis. The values derived and opinions presented in this study are based on publicly available information and certain assumptions that Brand Finance used where such data was deficient or unclear. Brand Finance accepts no responsibility and will not be liable in the event that the publicly available information relied upon is subsequently found to be inaccurate. The opinions and financial analysis expressed in the study are not to be construed as providing investment or business advice. Brand Finance does not intend the study to be relied upon for any reason and excludes all liability to any body, government, or organisation.
The data presented in this study form part of Brand Finance's proprietary database, are provided for the benefit of the media, and are not to be used in part or in full for any commercial or technical purpose without written permission from Brand Finance.
