With its fourth quarter results and a standout 2016, IAG, the airline group that includes British Airways, Iberia, Aer Lingus and Vueling, continues to separate itself from the other two members of Europe’s Big Three airline groups. And leading the way was IAG’s still rather new acquisition, Aer Lingus, which had the highest annual operating profit margin of all the IAG units in 2016.

Posting even better numbers was Air New Zealand, which saw record profits for the year. Nearby, Qantas seems to be enjoying a golden age of its own. Meanwhile, there’s nothing golden about a weak peso for Mexican carriers, although Aeromexico clearly is weathering it better than VivaAerobus.