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Operator Watch

Official filings only · numbers, not opinions

Quarterly metrics for the companies that buy and operate aircraft — taken directly from their regulatory filings. Eight-quarter trend per metric; hover the bars for exact figures. We show the numbers; you draw the conclusions. Coverage grows in waves — European and Asian operators join as their reporting is wired in.

Airlines 13

Air France-KLM Europe · annual-only disclosure
as of FY2024 (2024-01 → 2024-12) · annual reporting · Operating margin 4.7%
Revenue€31.5B +5% YoY
Operating income€1.5B -13% YoY
Net income€489M -51% YoY
Cash & equivalents€6.2B -7% YoY
Long-term debt€3.6B +8% YoY
SEC filings →
Alaska Air Group North America · full disclosure
as of Q1 2026 · Operating margin -8.5%
Revenue$3.3B +5% YoY
Operating income−$279M -42% YoY
Net income−$193M -16% YoY
Cash & equivalents$451M -57% YoY
Long-term debt$4.8B +11% YoY
SEC filings →
American Airlines North America · full disclosure
as of Q1 2026 · Operating margin -0.3%
Revenue$13.9B +11% YoY
Operating income−$41M +85% YoY
Net income−$382M +19% YoY
Cash & equivalents$1.0B +8% YoY
Long-term debt$22.9B -5% YoY
SEC filings →
Copa Holdings Latin America · annual-only disclosure
as of FY2025 (2025-01 → 2025-12) · annual reporting · Operating margin 22.6%
Revenue$3.6B +5% YoY
Operating income$819M +9% YoY
Net income$672M +10% YoY
Cash & equivalents$383M -38% YoY
Long-term debt$2.0B +19% YoY
SEC filings →
Delta Air Lines North America · full disclosure
as of Q1 2026 · Operating margin 3.2%
Revenue$15.9B +13% YoY
Operating income$501M -12% YoY
Net income−$289M -220% YoY
Cash & equivalents$5.1B +36% YoY
Long-term debt$10.6B -15% YoY
SEC filings →
IAG Europe · annual-only disclosure
as of FY2025 (2025-01 → 2025-12) · annual reporting · Operating margin 15.1%
Revenue€33.2B +3% YoY
Operating income€5.0B +17% YoY
Net income€3.3B +22% YoY
Cash & equivalents€8.2B +51% YoY
Long-term debt—
SEC filings →
JetBlue Airways North America · full disclosure
as of Q1 2026 · Operating margin -10.0%
Revenue$2.2B +5% YoY
Operating income−$224M -29% YoY
Net income−$319M -53% YoY
Cash & equivalents$1.9B -19% YoY
Long-term debt$8.4B -0% YoY
SEC filings →
LATAM Airlines Latin America · annual-only disclosure
as of FY2025 (2025-01 → 2025-12) · annual reporting · Operating margin 16.4%
Revenue$14.3B +11% YoY
Operating income$2.3B +52% YoY
Net income$1.5B +50% YoY
Cash & equivalents$2.2B +10% YoY
Long-term debt$8.1B +13% YoY
SEC filings →
Ryanair Europe · annual-only disclosure
as of FY2025 (2024-04 → 2025-03) · annual reporting · Operating margin 11.2%
Revenue€13.9B +4% YoY
Operating income€1.6B -24% YoY
Net income—
Cash & equivalents—
Long-term debt€2.7B -2% YoY
SEC filings →
Southwest Airlines North America · full disclosure
as of Q1 2026 · Operating margin 4.6%
Revenue$7.2B +13% YoY
Operating income$330M +248% YoY
Net income$227M +252% YoY
Cash & equivalents$3.3B -59% YoY
Long-term debt—
SEC filings →
United Airlines North America · full disclosure
as of Q1 2026 · Operating margin 6.8%
Revenue$14.6B +11% YoY
Operating income$997M +64% YoY
Net income$699M +81% YoY
Cash & equivalents$7.9B -16% YoY
Long-term debt—
SEC filings →
Wizz Air Europe · annual-only disclosure
as of FY2025 (2024-04 → 2025-04) · annual reporting · Operating margin 3.2%
Revenue€5.3B +4% YoY
Operating income€168M -62% YoY
Net income€214M -42% YoY
Cash & equivalents€598M -18% YoY
Long-term debt—
SEC filings →
easyJet Europe · annual-only disclosure
as of FY2025 (2024-10 → 2025-10) · annual reporting · Operating margin 6.9%
Revenue£10.1B +9% YoY
Operating income£696M +18% YoY
Net income£494M +9% YoY
Cash & equivalents£1.5B +12% YoY
Long-term debt£794M -16% YoY
SEC filings →

Manufacturers & Suppliers 5

Boeing North America · full disclosure
as of Q1 2026 · Operating margin 2.0%
Revenue$22.2B +14% YoY
Operating income$448M -3% YoY
Net income−$4M +89% YoY
Cash & equivalents$9.4B -7% YoY
Long-term debt$47.0B -12% YoY
SEC filings →
Embraer Latin America · annual-only disclosure
as of FY2025 (2025-01 → 2025-12) · annual reporting · Operating margin 8.0%
Revenue$7.6B +18% YoY
Operating income$608M -9% YoY
Net income$359M +1% YoY
Cash & equivalents$1.9B +25% YoY
Long-term debt—
SEC filings →
GE Aerospace North America · full disclosure
as of Q1 2026
Revenue$12.4B +25% YoY
Operating income—
Net income$1.9B -4% YoY
Cash & equivalents$11.0B -11% YoY
Long-term debt—
SEC filings →
Howmet Aerospace North America · full disclosure
as of Q1 2026 · Operating margin 32.6%
Revenue$2.3B +19% YoY
Operating income$753M +52% YoY
Net income$580M +69% YoY
Cash & equivalents$2.4B +353% YoY
Long-term debt$4.0B +22% YoY
SEC filings →
RTX North America · full disclosure
as of Q1 2026 · Operating margin 11.6%
Revenue$22.1B +9% YoY
Operating income$2.6B +26% YoY
Net income$2.1B +34% YoY
Cash & equivalents$6.8B +32% YoY
Long-term debt$37.3B -9% YoY
SEC filings →

Lessors 2

AerCap Global · full disclosure
as of Q2 2025
Revenue$1.9B -4% YoY
Operating income—
Net income$1.3B +181% YoY
Cash & equivalents$2.7B +88% YoY
Long-term debt$46.1B +1% YoY
SEC filings →
Air Lease Corporation Global · full disclosure
as of Q1 2026
Revenue$739M +0% YoY
Operating income—
Net income$126M -67% YoY
Cash & equivalents$554M +20% YoY
Long-term debt$19.8B -0% YoY
SEC filings →

Freight & Logistics 2

FedEx Global · full disclosure
as of Q1 2026 · Operating margin 5.6%
Revenue$24.0B +8% YoY
Operating income$1.3B +4% YoY
Net income$1.1B +16% YoY
Cash & equivalents$8.0B +56% YoY
Long-term debt—
SEC filings →
UPS Global · full disclosure
as of Q1 2026 · Operating margin 6.0%
Revenue$21.2B -2% YoY
Operating income$1.3B -24% YoY
Net income$864M -27% YoY
Cash & equivalents$5.8B +21% YoY
Long-term debt—
SEC filings →