present embodiments relate to a top drive with an airlift thread compensator that provides a more secure load distribution when the top drive is operating in one or more embodiments a top drive having an airlift thread compensator can have an airbag with a valve for supporting weight of the top drive during threadable engagement and disengagement of tubulars using the top drive thereby reducing or eliminating the need for high pressure gas and reducing the number of points of failure of the overall system the top drive assembly can be used on a drilling rig which can be used for drilling a wellbore the term u201c top drive assembly u201d as used herein can refer to a traveling block housing with sheaves an airbag pins an air valve and links installed and a top drive in an embodiment the sheaves can be wire rope sheaves used for suspending the top drive assembly in a drilling rig derrick when the top drive assembly is first hung in the drilling rig derrick no drill pipe is attached to the top drive turning now to the figures fig1 depicts a front detailed view of a top drive with an airlift thread compensator with the airlift thread compensator in an extended non compressed position a top drive assembly 7 can include a top drive 11 and.