Past Issues

Issue No. 913

AirAsia X’s Turnaround

It’s a triple tailwind for airlines. Demand has rarely been this good. Supply is greatly constrained. And fuel prices are down sharply (about 40 percent!) from a year ago. Sure enough, many airlines will be celebrating when the industry meets...

Read More
Issue No. 912

Transcon Trouble

It was a week of disappointment for American and JetBlue, who spent the time digesting the ramifications of a judicial order to end their northeast alliance. By all accounts, it was working well for both carriers. American did downplay the...

Read More
Issue No. 911

Icelandair Soars

We’ve now reached the point where most major airlines have published their first-quarter results. Singapore Airlines was among the carriers reporting last week, joining several other East Asian airlines near the top of the worldwide margin rankings. Its excellent 16...

Read More
Issue No. 910

Anadolujet to the Fore

Ryanair is buying planes again. A lot of planes. The Irish LCC opted for Boeing’s largest narrowbodies on offer, its 737-10s. Ryanair ordered 150 of them, with options for another 150. Will it still have enough growth opportunities to fill...

Read More
Issue No. 909

Where Are My Planes

There’s lots of nervous talk about the trajectory of the global economy, perhaps with some justification given rising interest rates, banking stress, lingering inflation, ongoing geopolitical tensions, weak freight markets, and cooling labor markets. There’s a more optimistic scenario, however,...

Read More
Issue No. 908

Vamos Volaris

Most U.S. airlines have now reported their first quarter results and frankly, they’re not pretty. Frontier and Allegiant have yet to announce. But among the country’s other nine publicly-traded non-regional carriers, only three earned an operating profit. One was the...

Read More
Issue No. 907

A New Old WestJet

First quarter earnings season picks up this week, but not before two major U.S. airlines reported their results last week. United delivered the disappointing first quarter loss it forewarned investors about, attributing it to a new normal of weak business...

Read More
Issue No. 906

The Manila Shake Up

The Delta results are in. As expected, the Atlanta-based giant posted solid, if unspectacular, first quarter operating profits, underpinned by ongoing demand strength. Executives appeared as bullish as ever, with talk of “robust demand for summer travel.” As for anxiety...

Read More
Issue No. 906

China’s Pandemic Pain Wanes

Just a few more days to go. On Thursday, Delta will take the stage in the opening act of first quarter earnings season. Recall that in mid-March, Delta said it would likely earn an operating margin (pre-interest and tax) of...

Read More
Issue No. 905

American Plays Catchup

Welcome to the second quarter of 2023. The first quarter is now in the books, with the stronger spring and summer seasons approaching in most major geographies. First quarter earnings season will begin next week, with Delta kicking things off...

Read More
Issue No. 904

Three’s A Crowd in Taiwan

The first quarter of 2023 will end in just a few days, making way for what’s typically a busier and more financially rewarding period of the year for most airlines. Looking back at the fourth quarter, it was undeniably a...

Read More
Issue No. 903

The Demand Party: When Will it End?

They said it again: Demand remains exceedingly strong. Nearly all U.S. airlines presented to investors last week, sounding universally bullish about the upcoming spring and summer peaks. They talked about elevated yields. They talked about constricted supply. They talked about...

Read More