Despite recent difficulties negotiating labor union contracts and the collapse of its $9.8 billion hostile bid for Delta Air Lines, Tempe-based US Airways Group posted the largest gain on the Fortune 500 list, climbing 208 spots to No. 216.
“It’s always good to be recognized,” said US Airways spokeswoman Valerie Wunder. “We had a really profitable year last year.”
Fortune compiled the rankings based on companies’ 2006 revenue.
Google, which has operations in Tempe, rose 112 spots to No. 241.
Wal-Mart Stores dethroned Exxon Mobil to win back first place on the 2007 Fortune 500 list after a confluence of economic forces led American companies to their most profitable year in the compilation’s 53-year history.
Despite recent difficulties negotiating labor union contracts and the collapse of its $9.8 billion hostile bid for Delta Air Lines, US Airways Group posted the largest gains on the list, climbing 208 spots to No. 216.
Wal-Mart posted a more than 11 percent increase in revenue to $351.1 billion and profits of $11.3 billion, according to the magazine’s annual ranking of the nation’s largest companies. Nipping at Wal-Mart’s heels was 2006 title-holder Exxon Mobil, which had $347.3 billion in revenue and the highest profit in history by a U.S. company, reaching $39.5 billion.
Collectively, the Fortune 500 raked in profits of $785 billion in 2006, the highest since the list’s inception in 1954. Oil and automobile companies nabbed several of this year’s top 10 spots, with General Motors Corp. holding on to No. 3, followed by Chevron Corp. in fourth place, ConocoPhillips in fifth and then Ford Motor Co. at No. 7.
General Electric Co. ranked sixth, with Citigroup placing pots behind at No. 8. Bank of America Corp. broke into the top 10 at No. 9, followed by insurer American International Group.
Car rental company Avis Budget Group dropped the most, plummeting 291 spots to No. 405.
How they rank
Arizona Fortune 500 companies
Company Rank Location
Avnet 172 Phoenix
Phelps Dodge 206 Phoenix
US Airways Group 216 Tempe
Allied Waste Industries 379 Phoenix