Based in the United Kingdom, digital flight data analyst OAG, released its standings for on-time performance for airlines and airports twice annually, based on 52 million flights arriving within 15 minutes of the scheduled times.
Only 14 airlines achieved the five-star rating, of which, eight are full-service carriers and six are low-cost carriers.
Jetstar Asia is the only local airline in Asia Pacific to have achieved the five-star rating, with an on-time performance of 86.4 per cent.
With its performance, Jetstar Asia was ranked the world's 14th most punctual airline among the 390 airlines across the globe reviewed by OAG.
The ratings are part of an ongoing accreditation programme that awards all airlines and airports twice yearly based on a rolling performance from October 2016 through September 2017.
'On time' is defined as arriving no more than 15 minutes after the scheduled arrival.
Jetstar Asia CEO Bara Pasupathi said that the world-class recognition is a strong testament of our team's efforts in championing operational efficiency and exceptional customer service.
"We have always known that the hallmark for air travel are safety, punctuality and convenience.
"In recent months, Jetstar Asia's adoption of a new customer feedback measurement tool has enabled the airline to use real-time customer feedback to deliver exceptional customer experiences.
"We are honoured to be the only airline in Singapore and Asia Pacific to receive the five-star rating and are encouraged that our continuing investments in our technology, processes and people has made travel more reliable and seamless for our customers," said Mr Pasupathi.
Mark Clarkson, EVP of Product Management at OAG, said: "From an airline perspective, while Jetstar Asia was the only ASPAC airline to receive 5-stars, Qantas Airways (Australia), Japan Airlines (Japan) and Skymark Airlines (Japan) were all awarded four stars, with over 85 per cent of flights on time."