New research from Brand Finance reveals that Singapore Airlines' brand value has soared to $2.7 billion — its highest level since 2015
SINGAPORE, 22 April 2025 – Singapore Airlines ranks 15th among the world’s top 50 most valuable airline brands and is the only Singaporean airline brand featured in the ranking, according to the latest Airlines 50 2025 report by Brand Finance, the world’s leading brand valuation consultancy.
In 2025, Singapore Airlines (brand value up 22% to USD2.7 billion) recorded a strong brand value growth for the first time in two years, despite facing a challenging aviation environment. Brand Finance attributes this growth to moderate gains in revenue, driven by both passenger and cargo segments, with strong e-commerce activity boosting cargo revenues. Despite rising competition and fuel costs that pressured profit margins, the brand has shown resilience.
Brand Finance’s research data also reveals that Singapore Airlines enjoys high levels of consumer consideration, preference, and word-of-mouth recognition in Singapore, and has also gained strong visibility in India. This is likely enhanced by the brand’s strategic partnership with Tata Sons following the merger of Air India and Vistara.
Alex Haigh, Managing Director Asia-Pacific, Brand Finance, commented:
“For the first time in two years, Singapore Airlines has achieved double-digit brand value growth, a clear indication of its ability to maintain revenue growth and foster strong consumer preference amid market challenges, positioning it well for sustainable growth. Similarly, Changi Airport continues to set the global standard for airport excellence, reinforcing its position as the world’s strongest airport. These brands’ forward-thinking approach levers Singapore’s aviation sector to the global stage.”
Brand Finance also released the Airports 25 2025 sub-ranking as part of its Airlines 50 2025 report. Changi Airport (brand value up 13% to USD765 million) retains its position as the world’s strongest airport brand, achieving a Brand Strength Index (BSI) score of 94.4/100 and a corresponding AAA+ brand strength rating – the highest rating awarded by Brand Finance. The brand’s strength is largely fuelled by its world-class facilities, seamless connectivity, and consistently high levels of customer satisfaction across the globe according to Brand Finance’s market research.
Global Insights
The combined brand value of the world’s top 50 airlines surged by 29% to USD132.6 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.
Delta has retained its title of the world’s most valuable airline brand for the seventh year running. The US carrier’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 among the world’s top 50 airline brands, more than tripling its brand value (+209%) to USD607 million. After a ten-year absence from the ranking, the airline re-enters in 45th place following a remarkable turnaround centred on fleet modernisation, operational efficiency, and international expansion.
Southwest Airlines is the world’s strongest airline brand, earning a BSI score of 91.1/100. The US low-cost giant scores highly for reputation, recommendation, and customer loyalty, according to Brand Finance research.
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.
