The airline industry has been through more structural changes in the past decade than most. The airline industry faces at number of risks in today's climate. In this study, Airline risk prioritization (ARP) is achieved with using combination of two techniques to providing optimization of risk prioritization: developed corporate risk score formula and analytic network process (ANP) based approach. ARP is considered as building stone to Enterprise Risk Management (ERM) implementation both in the airline and any other organizations. This research study is deal with solving "how is optimal risk assess and prioritization achieve?" problem. This paper is aimed to offer a new approach to risk prioritization to airline. In this study, determined airline business risks are pritiorized with the two phases. ARP results are interpreted to Airline by risk map. Lufthansa, Continental, Delta, ANA, JetBlue, Finnair ERM practices are consired for the determination of airline risks and airline literature is reviewed. So, this study is including to samples as real world situations. The ARP enables to define the best and most effective ERM implementation strategy at airline management. © EuroJournals Publishing, Inc. 2008.