American Airlines had a revenue of $41 billion in 2016, but its market capitalization was only $21 billion; Delta clocked a revenue of $40.5 billion in the same year, but its market capitalization was $34.4 billion; Air France-KLM’s valuation has particularly suffered in recent years and in the same period, it was valued at $2.7 billion, despite an impressive revenue of $30 billion. In contrast, Southwest, with revenue of $20.2 billion, was valued at over $30.2 billion in 2016.34
