Thursday, October 03, 2024
Vueling among the top 10 fastest-growing airline brands

Vueling among the top 10 fastest-growing airline brands

Iberia leads the airline sector in Spain, maintaining its 27th position in the global ranking of the world’s most valuable airline brands. With an increase of 16%, Vueling is the ninth fastest growing airline brand in brand value to EUR588 million according to the Airlines 50 2024 report by Brand Finance, the leading independent brand valuation consultancy. The U.S.-based Delta maintains its hegemony as the most valuable brand in the sector with a value of EUR10 billion, 17% more than the value of 2023.

Brand Finance annually analyzes more than 6,000 of the world’s biggest brands and publishes more than 100 reports in which it ranks brands from all sectors and countries. The 50 strongest and most valuable airline brands in the world are included in the annual Brand Finance Airlines 50 2024 ranking. In addition, the Airports 25 ranking of the 25 most valuable airports in the world has been presented jointly in the same report.

Pilar Alonso Ulloa, Managing Director Iberia (Spain, Portugal) and South America commented: “With the focus on continuous improvement of the customer experience and ESG, Spanish airlines have increased the value of their brands at the end of 2023. In the airline industry, sustainability drives 6.5% of customers’ consideration of the brand at the time of purchase.”

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Iberia (brand value up 0.4% to EUR998 million) is the most valuable airline brand in Spain for the eleventh consecutive year, remaining in 27th place in the ranking. During 2023, Iberia stood out for its strategic expansion, the modernization of its fleet and the continuous improvement of the customer experience, reaffirming its position as one of the leading airlines internationally. According to Brand Finance’s annual market study, the best perceived by consumers is how accessible and popular the brand is, ease of treatment and excellent customer service. Brand Recognition, Familiarity and Consideration have remained strong with a slight drop in Reputation.

Vueling (brand value up 16% to EUR588 million) is one of the top 10 airlines that grow the most in brand value in the international sector ranking, which makes it climb five places in the ranking to 40th place. Brand Finance’s market study highlights the ease of contacting the brand and good value for money by consumers. In 2023, Vueling experienced remarkable growth and strengthening as a leading brand in the airline industry. The company stood out for its strategic expansion, adding new routes to key international destinations and consolidating its position in the global market such as direct flights from Barcelona to popular destinations such as New York, Tokyo and Cape Town, opening new opportunities for travelers and consolidating the airline’s position in the international market.

In addition, Vueling demonstrated a strong commitment to innovation by introducing new products and services designed to improve the customer experience, along with initiatives to promote sustainability and reduce its environmental impact. It intensified its sustainability efforts, implementing measures to reduce its carbon footprint and promote greener travel practices such as the introduction of more fuel-efficient aircraft and launched carbon offset programs for passengers who wish to mitigate the environmental impact of their flights.

British Airways, Jet2.com and Emirates rank in the top 3 in brand value growth. These companies recorded impressive double-digit increases in their brand value in 2024, reflecting their commitment to excellence, customer satisfaction and strategic brand management in the ever-competitive global airline industry. British Airways and Jet2.com recorded the largest increases in brand value, up 41% to EUR3.0 billion and 30% to EUR886 billion respectively. In comparison, Emirates ranked as the third fastest growing carrier in brand value, with an increase of 25%.

In addition to calculating brand equity, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics that evaluate marketing investment, brand equity, and business performance (business outcomes). ISO 20671 certified, Brand Finance’s stakeholder value assessment incorporates original market research data from more than 150,000 respondents in 41 countries and 31 industries.

The market research we conduct helps us identify a brand’s strength relative to its competitors, we analyze marketing investment, brand equity, and financial results. These factors are decisive since what is invested in marketing must have a certain impact on brand equity, and this must be a tool to attract turnover.

ANA remains the strongest airline brand in the world, while Indigo and Emirates rank second and third.

The world’s strongest airline brands are ANA (down 17% to EUR1.9 billion), followed by Indigo (up 22% to EUR982 million) and Emirates (up 25% to EUR6.2 billion). ANA retains its top spot with a brand strength rating of AAA, while Indigo and Emirates climb from the 16th and 12th positions, respectively, from the previous year. Of the Spanish brands, both Iberia and Vueling have strong brand strength scores, 73.02/100 for Iberia whose strength is down 2.28% this year and 72.87/100 for Vueling whose brand strength is up 4.58%.

The three most valuable airline brands in the world are American: Delta, American Airlines, and United Airlines. Delta has achieved cruising altitude as the world’s most valuable airline brand for six consecutive years.

The U.S. brand Delta (whose brand value increased by 17% to EUR10.0 billion) maintained its top position as the world’s most valuable airline brand for the sixth consecutive year. Similarly, other American brands, American Airlines (17% increase in brand value to EUR9.6 billion), United Airlines(8% increase in brand value to EUR8.1 billion) and Southwest Airlines(11% increase in brand value to EUR5.0 billion), maintained their 2nd, 3rd and 5th positions. Rounding out the top 5 of the world’s most valuable airlines, Emirates of the United Arab Emirates (up 25% in brand value to EUR6.2 billion) defended its title as the world’s fourth most valuable airline.

READ: Norse Atlantic Airways joins Vueling Global platform

Savio D’Souza, Chief Valuation Officer at Brand Finance, commented,”In an age where the sky is the limit, U.S. airlines have not only taken off, but are charting new heights in brand equity, leaving an indelible trail of resilience and innovation in the post-pandemic skies. Meanwhile, British Airways, Jet2.com and Emirates are not only flying, but soaring above the updrafts of change with double-digit brand value growth.”

Delta achieves the highest perceived sustainability value, $672 million.

Brand Finance also uses its Global Brand Equity Monitor (GBEM) study to produce a Sustainability Perceptions Index that determines the role of sustainability in the consideration of brands across all sectors. In the airline industry, sustainability drives 6.5% of customer consideration. Brand Finance’s perception data also offers insights into the brands that global consumers consider most committed to sustainability.

The 2024 Sustainability Perception Index reveals that, in the airline industry, Delta has the highest sustainability perception value, at $672 million*, despite Delta’s perceived sustainability scores being below the airline industry average across all ESG dimensions.

Picture of James Graham

James Graham

James Graham is an award-winning transport media journalist with a long background in the commercial freight sector, including commercial aviation and the aviation supply chain. He was the initial Air Cargo Week journalist and retuned later for a stint as editor. He continues his association as editor of the monthly supplements. He has reported for the newspaper from global locations as well as the UK.

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