List of largest airlines in South America Passengers carried in 2011 Passengers carried in 2011

| Rank_ | Airline | Country | Remarks | Alliance |
|---|---|---|---|---|
| 1 | TAM | Brazil | In process of fusion with Lan to form LATAM | Star Alliance |
| 2 | Gol | Brazil | N/A | N/A |
| 3 | LAN Airlines | Chile | In process of merger with Tam to form LATAM | Oneworld |
| 4 | Avianca | Colombia | It only includes Avianca Colombia | Star Alliance |
| 5 | Aerolíneas Argentinas | Argentina | Including Austral | Skyteam (2012) |