The most profitable passenger airline in North America in 2022 was Delta Air Lines, with operating revenue of almost 50.6 billion U.S. dollars, followed closely by American Airlines, with nearly 49 billion U.S. dollars in revenue.

As of the latest financial reports in 2026, the "Big Three" legacy carriers—Delta Air Lines, United Airlines, and American Airlines—consistently lead the U.S. industry in total profit. Delta Air Lines is currently the most profitable airline in the world, largely due to its premium branding, highly successful loyalty program partnership with American Express, and its robust "Refining" segment that helps manage fuel costs. United Airlines follows closely, benefiting from a massive expansion in international long-haul routes which traditionally offer higher margins than domestic flights. Southwest Airlines, while historically the most consistently profitable, has faced stiffer competition and higher labor costs in 2025-2026, but it remains the leader among "low-cost" models. The profitability of these airlines is increasingly driven by ancillary revenue—fees for bags, seat selection, and Wi-Fi—as well as the sale of frequent flyer miles to credit card companies, which often generates more net income than the actual operation of flying passengers from point A to point B.