Zohdy's method for the inversion of dc-resistivity data has been adapted to the inversion of airborne electromagnetic (AEM) data. AEM responses are first transformed into apparent-conductivity depth profiles, followed by an iterative adjustment of layer thicknesses and interval conductivities. The start model, including the number of layers, is determined from the data. This approach optimizes model flexibility without the need for parameter regularization. Results from Zohdy's inversion applied to TEMPEST, GEOTEM, and DIGHEM V data acquired in a range of conductivity scenarios including the Bull Creek prospect in Queensland, Australia; the Boteti area, Botswana; and the Reid-Mahaffy test site in Ontario, Canada, show well-delineated target zones. A comparison with Occam's inversion shows good agreement between the conductivity-depth models recovered by the two methods, with Zohdy's inversion being 25 to 80 times faster.