WestJet is the strongest airline brand in the world with a AAA- brand rating, according to the latest report from brand valuation consultancy Brand Finance.
Every year, the consultation company evaluates 5,000 of the “biggest brands,” and publishes around 100 reports, ranking brands across all sectors and countries. The world’s top 50 “most valuable and strongest brands” in the airline industry are included in the annual Brand Finance Airlines 50 2022 ranking.
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance.
WestJet (brand value up 22 per cent to USD $0.6 billion) was named the strongest airline brand in the world with a Brand Strength Index (BSI) of 84 out of 100 and a corresponding AAA- brand rating. According to Brand Finance, the airline has strengthened its brand identity across Canada with the addition of 24 new routes across the nation, leading to Canadian customers feeling “an increased affinity with the brand.”
In addition, WestJet is steadily recovering from the impact of COVID-19 and is now operating over 500 departures per day for the first time since the pandemic.
Winners in other categories include Delta Air Lines, which maintained its position as the world’s most valuable airline, and even rising 27 per cent from the previous year to USD $7.3 billion.
Spanish airline Iberia is fastest growing airline brand, with a 36 per cent jump in brand value, among other findings.
“The COVID-19 pandemic brought many travel restrictions across the world which had very big and direct impacts on airline brand values. As the world looks to a post-COVID future, airline brands, led by Delta, are beginning to taxi for take-off. Brand values have grown this year but have a long way to return to pre-pandemic levels,” said Savio D’Souza, Valuation Director, Brand Finance.
Full Brand Finance Airlines 50 2022 rankings are on its web site.