Issue Summary

Things are feeling pretty good in airline world. Demand across most markets remains strong, and fares are high. And now, the cost outlook is suddenly looking much, much better. Fuel prices continue to drop, losing much of their gains from the past year. Brazil’s Azul, for one, said last week that it’s paying about a fifth less for fuel than it was just a month ago. The U.S. dollar, meanwhile, is losing value versus most major currencies, offering further cost relief to non-U.S. airlines.