| class="wikitable sortable"
! Airline !! Country !! class=unsortable width=350|Stake |
| Aeroflot | {{Flagicon|Russia}} Russian Federation | {{As of|2025|July|post=:}} 73.8%[{{Cite web |url=https://ir.aeroflot.com/securities/shareholder-capital-structure/ |title=Shareholder Capital Structure |website=ir.aeroflot.com |access-date=9 March 2020}}] |
| Aerogaviota | {{Flagicon|Cuba}} Cuba | 100%{{citation needed|date=March 2020}} |
| Aerolíneas Argentinas | {{Flagicon|Argentina}} Argentina | {{As of|December 2014|post=:}} 100%[{{Cite news |url=http://centreforaviation.com/analysis/air-new-zealand-to-launch-buenos-aires-with-aerolineas-argentinas-codeshare--asiapac-connections-201852 |title=Air New Zealand to launch Buenos Aires with Aerolineas Argentinas codeshare & AsiaPac connections |date=18 December 2014 |work=CAPA Centre for Aviation |url-status=dead |archive-url=https://web.archive.org/web/20141218104402/http://centreforaviation.com/analysis/air-new-zealand-to-launch-buenos-aires-with-aerolineas-argentinas-codeshare--asiapac-connections-201852 |archive-date=18 December 2014}}] |
| Afriqiyah Airways | {{Flagicon|Libya}} Libya | 100%[{{Cite web |url=https://www.afriqiyah.aero/en/company/about.html |title=About Afriqiyah Airways |website=afriqiyah.aero |access-date=12 March 2020}}] |
| Air Algérie | {{Flagicon|Algeria}} Algeria | {{As of|December 2013|post=:}} 100%[{{Cite news |url=http://www.middle-east-online.com/english/?id=63171 |title=Air Algerie to spend $762 million upgrading its fleet |date=14 December 2013 |work=The Middle East |archive-url=https://web.archive.org/web/20140625231352/http://www.middle-east-online.com/english/?id=63171 |archive-date=25 June 2014}}] |
| Air Astana | {{flagicon|Kazakhstan}} Kazakhstan | 51% |
| Air Botswana | {{Flagicon|Botswana}} Botswana | 100%{{citation needed|date=March 2020}} |
| Air Calédonie | {{Flagicon|New Caledonia}} New Caledonia (France) | 52.45%{{citation needed|date=March 2020}} |
| Air Cambodia | {{Flagicon|Cambodia}} Cambodia
|51% |
| Air Canada | {{Flagicon|Canada}} Canada | 6.4% |
| Air China | {{Flagicon|China}} China | 53.46%[{{Cite web|url=https://www1.hkexnews.hk/listedco/listconews/sehk/2016/0420/ltn201604201042.pdf|title=2015 Annual Report|website=Air China Limited|access-date=21 March 2020}}] |
| Air Côte d'Ivoire | {{Flagicon|Ivory Coast}} Ivory Coast | {{As of|April 2017|post=:}} 58%[{{cite web |url=http://www.africaguinee.com/articles/2017/04/27/guinee-air-cote-d-ivoire-inaugure-son-nouveau-siege-conakry|title=Guinée : Air Côte-D'Ivoire inaugure son nouveau siège à Conakry! (Guinea: Air Côte-D'Ivoire inaugurates its new base in Conakry!)|publisher= Africaguinee.com|language=fr-FR|date=27 April 2017|access-date=5 November 2017}}] |
| Air Djibouti | {{Flagicon|Djibouti}} Djibouti
| Djibouti Government minor shareholder[{{Cite web|date=5 February 2011|title=gulfnews : UAE investor helps launch Djibouti national carrier|url=http://gulfnews.com/business/aviation/uae-investor-helps-launch-djibouti-national-carrier-1.754560|archive-url=https://web.archive.org/web/20110205134802/http://gulfnews.com/business/aviation/uae-investor-helps-launch-djibouti-national-carrier-1.754560|url-status=dead|archive-date=5 February 2011|access-date=3 June 2020}}] |
| Air France | {{Flagicon|France}} France
| 28.6% (through the Air France–KLM holding company). Dutch state has a 9.3% stake[{{cite web |date=14 June 2022 |title=Air France-KLM announces the success of its €2.256 billion rights issue |url=https://www.airfranceklm.com/en/finance/air-france-klm-capital/shareholding-structure |access-date=1 July 2022 |publisher=AirFranceKLM Group}}] |
| Air Greenland (Greenlandair) | {{Flagicon|Greenland}} Greenland
| 100%[{{cite web|title=Air Greenlands management and board|url=https://airgreenland.com/about-us/management-and-board/|access-date = 2023-12-25| publisher=Air Greenland}}] |
| Air Kiribati | {{Flagicon|Kiribati}} Kiribati
| 100%[{{Cite web|title=Air Kiribati Airline Profile |url=https://centreforaviation.com/data/profiles/airlines/air-kiribati-ik|access-date=3 June 2020|website=centreforaviation.com}}] |
| Air Koryo | {{Flagicon|North Korea}} North Korea
| 100% |
| Air Macau | {{Flagicon|Macau}} Macau
|66.9% Air China (majority shareholder - Chinese government)
5% (minority shareholder - government of Macau)["Directory: World Airlines", Flight International 10 April 2007, p. 46.] |
| Air Madagascar | {{Flagicon|Madagascar}} Madagascar
| |
| Air Mauritius | {{Flagicon|Mauritius}} Mauritius
| |
| Air New Zealand | {{Flagicon|New Zealand}} New Zealand | {{As of|March 2020|post=:}} 52%[{{Cite web |url=https://www.airnewzealand.co.nz/investor-centre-frequently-asked-questions |title=Frequently Asked Questions - Investor centre |website=airnewzealand.co.nz |access-date=11 March 2020}}https://www.airnewzealand.co.nz/investor-centre-frequently-asked-questions] |
| Air Niugini | {{Flagicon|Papua New Guinea}} Papua New Guinea
| 60% |
| Air Serbia | {{Flagicon|Serbia}} Serbia
|100%[{{Cite web |last=Dragojlo |first=Sasa |date=November 14, 2023 |title=Etihad to Quit Air Serbia Co-Ownership, State to Take Full Control |url=https://balkaninsight.com/2023/11/14/etihad-to-quit-air-serbia-co-ownership-state-to-take-full-control/ |website=BalkanInsight}}] |
| Air Seychelles | {{Flagicon|Seychelles}} Seychelles
|100% |
| Air Tanzania | {{Flagicon|Tanzania}} Tanzania
|100% |
| Air Zimbabwe | {{Flagicon|Zimbabwe}} Zimbabwe
|100%[{{Cite web|title=Simple ownership change to forgive USD150m of debt is not enough to place Air Zimbabwe back on track|url=https://centreforaviation.com/analysis/reports/simple-ownership-change-to-forgive-usd150m-of-debt-is-not-enough-to-place-air-zimbabwe-back-on-track-69847|access-date=3 June 2020|website=CAPA - Centre for Aviation|language=en}}] |
| AirBaltic | {{Flagicon|Latvia}} Latvia
| 80% |
| Aircalin | {{Flagicon|New Caledonia}} New Caledonia
|100% |
| Alliance Air (India)
|{{Flagicon|India}} India
|100% |
| Ariana Afghan Airlines | {{Flagicon|Islamic Emirate of Afghanistan}} Afghanistan
| 100% |
| Arkaim | {{Flagicon|Russia}} Russia
| |
| Aurigny | {{Flagicon|Guernsey}} Guernsey
|100% |
| Azerbaijan Airlines | {{Flagicon|Azerbaijan}} Azerbaijan
| 100% |
| Bahamasair | {{Flagicon|Bahamas}} Bahamas
| 100% |
| Belavia | {{Flagicon|Belarus}} Belarus
| 100% |
| Biman Bangladesh Airlines | {{Flagicon|Bangladesh}} Bangladesh
|At least 51% |
| Boliviana de Aviación | {{Flagicon|Bolivia}} Bolivia
|100% |
| Caribbean Airlines | {{Flagicon|Trinidad and Tobago}} Trinidad and Tobago
| 100% |
| Cathay Pacific | {{Flagicon|Hong Kong}} Hong Kong
|6% |
| Cayman Airways | {{Flagicon|Cayman Islands}} Cayman Islands
| 100% |
| CEIBA Intercontinental
|{{Flagicon|Equatorial Guinea}} Equatorial Guinea
|[{{Cite news |date=2023-01-18 |title=Ruslan Obiang Nsue: Equatorial Guinea president's son arrested over plane's sale |url=https://www.bbc.co.uk/news/world-africa-64316265 |access-date=2025-02-08 |work=BBC News |language=en-GB}}][{{Cite web |date=2023-01-17 |title=Son of Equatorial Guinea's ruler held for graft: state TV |url=https://www.rfi.fr/en/business-and-tech/20230117-son-of-equatorial-guinea-s-ruler-held-for-graft-state-tv |access-date=2025-02-08 |website=RFI |language=en}}] |
| China Airlines | {{Flagicon|ROC}} Republic of China
| 31.05% China Aviation Development Foundation (CADF)
8.64% National Development Fund (NDF)[{{Cite web|title=Consolidated Financial Statements for the Six Months Ended June 30, 2022 and 2021 and Independent Auditors' Review Report|url=https://www.china-airlines.com/us/en/Images/combine_2022-Q2-en_tcm162-49479.pdf|access-date=23 February 2024|website=china-airlines.com}}] |
| Conviasa | {{Flagicon|Venezuela}} Venezuela
| 100% |
| Croatia Airlines | {{Flagicon|Croatia}} Croatia
| 100% |
| Cubana de Aviación | {{Flagicon|Cuba}} Cuba
| 100% |
| Druk Air | {{Flagicon|Bhutan}} Bhutan
| 100% |
| Dubai Royal Air Wing | {{Flagicon|Dubai}} Government of Dubai (UAE)
| 100% |
| EgyptAir | {{Flagicon|Egypt}} Egypt
| 100% |
| Emirates | {{Flagicon|Dubai}} Government of Dubai (UAE)
| 100% |
| Eritrean Airlines | {{Flagicon|Eritrea}} Eritrea
| 80% Eritrean government
20% Ethiopia Airlines (Ethiopian government) |
| Ethiopian Airlines | {{Flagicon|Ethiopia}} Ethiopia
| 100% |
| Etihad Airways | {{Flagicon|Abu Dhabi}} Government of Abu Dhabi (UAE)
| 100% |
| Fiji Airways | {{Flagicon|Fiji}} Fiji
| 52% |
| Finnair | {{Flagicon|Finland}} Finland
|55.8% |
| Flydubai | {{Flagicon|Dubai}} Government of Dubai (UAE)
| 100% |
| Garuda Indonesia | {{Flagicon|Indonesia}} Indonesia
| 60.54% |
| Gulf Air | {{Flagicon|Bahrain}} Bahrain | |
| Heli Air Monaco | {{Flagicon|Monaco}} Monaco
| 100%[{{Cite web |url=https://www.heliairmonaco.com/en/about/the-company.html,30 |title=Héli Air Monaco |website=heliairmonaco.com |access-date=11 March 2020}}https://www.heliairmonaco.com/en/about/the-company.html,30] |
| Iran Air | {{Flagicon|Iran}} Iran
|60% |
| Iraqi Airways | {{Flagicon|Iraq}} Iraq
|100% |
| ITA Airways | {{Flagicon|Italy}} Italy
| 100%[{{Cite web|title=About us|url=https://www.itaspa.com/en_it/fly-ita/ita-world/about-us.html|url-status=live|archive-url=https://web.archive.org/web/20211020191449/https://www.itaspa.com/en_it/fly-ita/ita-world/about-us.html|archive-date=2021-10-20|access-date=2021-11-26|website=itaspa.com|publisher=ITA Airways}}] |
| KM Malta Airlines | {{Flagicon|Malta}} Malta
| 100% |
| KLM | {{Flagicon|Netherlands}} Netherlands
| 9.3% (through the Air France–KLM holding company).
French state has a 28.6% stake[{{cite web |date=14 June 2022 |title=Air France-KLM announces the success of its €2.256 billion rights issue |url=https://www.airfranceklm.com/en/finance/air-france-klm-capital/shareholding-structure |access-date=1 July 2022 |publisher=AirFranceKLM Group}}] |
| Kuwait Airways | {{Flagicon|Kuwait}} Kuwait
| 100% |
| LADE | {{Flagicon|Argentina}} Argentina
| 100% |
| LAM Mozambique Airlines | {{Flagicon|Mozambique}} Mozambique
| 100% |
| Lao Airlines | {{Flagicon|Laos}} Laos
| 100% |
| Libyan Airlines | {{Flagicon|Libya}} Libya
| 100% |
| LOT Polish Airlines | {{Flagicon|Poland}} Poland
| 100%[{{Cite web|title=Ownership structure|url=https://corporate.lot.com/pl/en/ownership-structure|url-status=live|archive-url=https://web.archive.org/web/20211126163443/https://corporate.lot.com/pl/en/ownership-structure|archive-date=2021-11-26|access-date=2021-11-26|website=corporate.lot.com|publisher=LOT Polish Airlines}}] |
| Malaysia Airlines | {{Flagicon|Malaysia}} Malaysia
| 100%[{{Cite web|title=Malaysia Airlines Berhad Airline Group Profile|url=https://centreforaviation.com/data/profiles/airline-groups/malaysia-airlines-berhad|access-date=2021-11-26|website=centreforaviation.com}}] |
| Mandarin Airlines | {{Flagicon|ROC}} Taiwan
| Fully owned subsidiary of Taiwan's China Airlines |
| Mexicana de Aviación | {{Flagicon|Mexico}} Mexico | |
| MIAT Mongolian Airlines | {{Flagicon|Mongolia}} Mongolia
| |
| Middle East Airlines | {{Flagicon|Lebanon}} Lebanon
| 100% |
| Myanmar National Airlines | {{Flagicon|Myanmar}} Myanmar
| 100% |
| Myanmar Airways International | {{Flagicon|Myanmar}} Myanmar | |
| Nauru Airlines | {{Flagicon|Nauru}} Nauru | |
| Nepal Airlines | {{Flagicon|Nepal}} Nepal | |
| Nordica | {{Flagicon|Estonia}} Estonia | |
| Oman Air | {{Flagicon|Oman}} Oman | |
| Pakistan International Airlines | {{Flagicon|Pakistan}} Pakistan | |
| Philippine Airlines | {{Flagicon|Philippines}} Philippines | |
| Qatar Airways | {{Flagicon|Qatar}} Qatar | |
| Qatar Amiri Flight | {{Flagicon|Qatar}} Qatar | |
| Qatar Executive | {{Flagicon|Qatar}} Qatar | |
| RAM Cargo | {{Flagicon|Morocco}} Morocco | |
| Régie Malagache | {{Flagicon|Madagascar}} Madagascar | |
| Riyadh Air | {{Flagicon|Saudi Arabia}} Saudi Arabia | 100%[{{Cite news |date=2023-03-14 |title=Saudi Arabia launches new national airline |language=en |work=Reuters |url=https://www.reuters.com/business/aerospace-defense/saudi-arabia-launches-new-national-airline-2023-03-12/ |access-date=2023-11-14}}] |
| Rossiya | {{Flagicon|Russia}} Russia | |
| Royal Air Maroc | {{Flagicon|Morocco}} Morocco | |
| Royal Brunei Airlines | {{Flagicon|Brunei}} Brunei | |
| Royal Jordanian | {{Flagicon|Jordan}} Jordan | |
| RwandAir | {{Flagicon|Rwanda}} Rwanda | |
| Satena | {{Flagicon|Colombia}} Colombia | |
| Saudia | {{Flagicon|Saudi Arabia}} Saudi Arabia | |
| Singapore Airlines | {{Flagicon|Singapore}} Singapore
|55.53%[{{Cite web|title=ANNUAL REPORT FY2018/19|url=https://www.singaporeair.com/saar5/pdf/Investor-Relations/Annual-Report/annualreport1819.pdf|website=Singapore Airlines|page=213|access-date=27 May 2020}}] |
| Solomon Airlines | {{Flagicon|Solomon Islands}} Solomon Islands
|100%[{{Cite web|title=Solomon Airlines Limited Financial Statements For the year ended 31 December 2015|url=https://www.oag.gov.sb/documents/audits/financial-audits/government-agencies-financial/state-owned-enterprises/solomon-airlines/129-2015-solomon-airlines-financial-statement-opinion/file.html|website=Office of the Auditor General|page=36|access-date=27 May 2020}}] |
| SriLankan Airlines | {{Flagicon|Sri Lanka}} Sri Lanka
|99.11%[{{Cite web|title=Annual Report 2018/19|url=https://www.srilankan.com/pdf/annual-report/SriLankan_Airlines_Annual_Report_2018-19_English.pdf|website=SriLankan Airlines|page=47|access-date=27 May 2020}}] |
| Sudan Airways | {{Flagicon|Sudan}} Sudan
| 79.00%[{{Cite news|date=16 December 2011|title="Sanctions are hell": Sudan Airways struggles to survive|language=en|work=Reuters|url=https://www.reuters.com/article/uk-sudan-airline-idUSLNE7BF01O20111216|access-date=20 May 2020}}] |
| Surinam Airways | {{Flagicon|Suriname}} Suriname
| 100%[{{Cite web|title=Surinam Airways: "Our continuity is not in danger!"|url=https://www.aviation24.be/airlines/surinam-airways/continuity-surinam-airways-is-not-in-danger/|last=Driessche|first=Maarten Van Den|date=24 May 2018|website=Aviation24.be|language=en-GB|access-date=20 May 2020}}] |
| Syrian Air | {{flagicon|Syria|revolution}} Syria
|100% |
| TAAG Angola Airlines | {{Flagicon|Angola}} Angola
| 90.00%[{{Cite web|title=Reports: Qatar Airways To Purchase Stake in TAAG Angola Airlines|url=https://airlinegeeks.com/2019/09/11/qatar-airways-would-buy-a-stake-in-taag-angola-airlines-sources-claim/|last=Machado|first=João|date=11 September 2019|website=AirlineGeeks.com|language=en|access-date=20 May 2020}}] |
| TAP Portugal | {{Flagicon|Portugal}} Portugal
| 97.75% (91.8% directly owned by the government and the remaining 8.2% owned by the TAP Group, where the government has a total share of 72.5%)[{{Cite web|title=The TAP Group – Institutional|url=http://www.tapairportugal.com/en/about-us/tap-group|access-date=3 September 2021|website=TAP Air Portugal|language=en}}] |
| TAROM | {{Flagicon|Romania}} Romania
| 97.22%[{{Cite web|title=Public interest information |url=https://www.tarom.ro/en/about-us/public-interest-information|website=tarom.ro|access-date=20 May 2020}}] |
| Thai Airways International | {{Flagicon|Thailand}} Thailand
| 51.00%[{{Cite web|title=Thai: Thai Airway International Public Company Limited|url=https://www.set.or.th/set/companyhighlight.do?symbol=THAI&ssoPageId=5&language=en&country=US|website=set.or.th|url-status=live|archive-url=https://web.archive.org/web/20200210101724/https://www.set.or.th/set/companyhighlight.do?symbol=THAI&ssoPageId=5&language=en&country=US|archive-date=10 February 2020|access-date=20 May 2020}}] |
| Tunisair | {{Flagicon|Tunisia}} Tunisia
|[{{Cite web|title=Tunisair Airline Profile |url=https://centreforaviation.com/data/profiles/airlines/tunisair-tu|website=centreforaviation.com|access-date=10 May 2020}}][{{Cite web|title=UPDATE 1-Tunisair to lose $24.6 million this month, CEO says|url=https://www.cnbc.com/2020/03/16/reuters-america-update-1-tunisair-to-lose-24-point-6-million-this-month-ceo-says.html|date=16 March 2020|website=CNBC|language=en|access-date=10 May 2020}}{{Dead link|date=November 2023 |bot=InternetArchiveBot |fix-attempted=yes }}] |
| Turkmenistan Airlines | {{Flagicon|Turkmenistan}} Turkmenistan
| |
| Uganda Airlines | {{Flagicon|Uganda}} Uganda
| 100%[{{Cite web|title=First Plane For Revived Uganda Airlines Arrives March 2019|url=https://africanleadership.co.uk/first-plane-for-revived-uganda-airlines-arrives-march-2019/|date=20 February 2019|website=African Leadership Magazine|url-status=dead|archive-url=https://web.archive.org/web/20190328210249/https://africanleadership.co.uk/first-plane-for-revived-uganda-airlines-arrives-march-2019/|archive-date=28 March 2019|access-date=10 May 2020}}] |
| Uzbekistan Airways | {{Flagicon|Uzbekistan}} Uzbekistan
| |
| Vietnam Airlines | {{Flagicon|Vietnam}} Vietnam
|86.10%[{{Cite web|url=https://asia.nikkei.com/Business/Companies/Vietnam-Airlines-plans-new-listing-as-Hanoi-reduces-stake|title=Vietnam Airlines plans new listing as Hanoi reduces stake|website=Nikkei Asian Review|language=en-GB|access-date=8 April 2020}}] |
| Yemenia | {{Flagicon|Yemen}} Yemen
| 51.00%[{{Cite web|url=http://yemenia.com/|title=Yemenia - Yemen Airways|website=Yemenia - Yemen Airways|access-date=8 April 2020}}] |