Airline business model is defined as logic aiming for realizing and maintaining activities of business operating in the civil aviation sector in order to add value to their stakeholders. Hence, it is being observed that airline firms direct themselves to different business models due to reasons such as increase in fuel costs at global level, worry relating to developments regarding security, and decreasing ticket prices. Relevant scientific researches provide results showing that in intensely competitive environment airline firms developed their current business models and/or that they direct themselves to a new business model by leaving the current one completely aside. In this study airline business model that is generally accepted in literature will be examined conceptually and realize ways of activities in each model and the differences will be reviewed.