Delta Leads Top Airline Mergers by Value (simpleflying.com)

Delta Air Lines increased its market capitalization by approximately 750% since acquiring Northwest Airlines in 2008, reaching $52.7 billion as of October 2026. United Airlines and British Airways-Iberia also posted significant gains, with values rising to $33.9 billion and $22.2 billion respectively. Conversely, Japan Airlines' merger with Japan Air System resulted in total shareholder equity destruction following a 2010 bankruptcy.