This report conducts a comprehensive financial ratio analysis of United Airlines and Qantas Ltd, focusing on key performance indicators (KPIs) across a five-year period from 2008. The analysis encompasses profitability ratios, including net profit margin and return on assets, revealing the financial health and operational efficiency of both airlines. Activity ratios, such as the receivables turnover ratio, are examined to assess the efficiency of asset management. Leverage ratios, particularly the debt-to-equity ratio, are used to evaluate the companies' reliance on debt. Liquidity ratios, including current and quick ratios, are analyzed to determine the ability of each company to meet short-term obligations. Market share ratios, represented by earnings per share, provide insights into shareholder value and overall market performance. The report compares the financial performance of both companies, highlighting strengths and weaknesses based on the computed ratios and providing insights into their strategic management and financial decisions.