Issues

Qantas is flying high again. Strong domestic demand, booming premium cabins, and a disciplined strategy have pushed the Australian flag carrier to a steady 11% annual margin. But management wants more – especially internationally. In this week’s feature story, we examine how the 'Flying Kangaroo' plans to make the leap.

Dubai built Emirates to drive economic growth — and succeeded beyond imagination. Now a new chapter is unfolding. Emirates is expanding cautiously, while FlyDubai and Etihad push aggressively into new markets and Air Arabia carries low-cost flying further afield. With hundreds of aircraft on order, new hubs taking shape, and regional competition intensifying, the Gulf aviation story is evolving quickly. We explore what might come next in this week’s feature story.

Icelandair is still in the red. Despite strong transatlantic demand and the collapse of local rival Play, it posted a loss for the second straight year. Yet traffic trends are improving, partnerships are expanding, and a more efficient fleet is on the way. Is Icelandair truly on the right track, or stuck in a structurally unforgiving market? We explore the outlook in this week’s feature story.

Japan Airlines is back in the lead, at least for now. After losing its profit crown to All Nippon in the early post-Covid years, JAL outperformed its rival again in 2025. More importantly, both carriers are thriving despite a complex landscape of shrinking Chinese traffic, U.S. tariffs, and stiff competition. In this week’s feature story, we explain how Japan’s two airline giants are staying ahead.

“Steady as she goes.” That’s Michael O’Leary’s latest assessment of Ryanair’s business – a phrase that feels almost understated coming from one of aviation’s most outspoken CEOs. But beneath the familiar bluster, the numbers tell a quietly impressive tale. In this week’s feature story, we look past the theatrics to examine why Europe’s largest low-cost carrier remains one of the industry’s steadiest performers.

United Airlines is feeling good. After another strong earnings report last week, CEO Scott Kirby took aim at rivals with unmistakable confidence. United, he insists, now belongs in an exclusive club at the very top of the U.S. airline industry. But how durable is that swagger? In this week’s feature story, we dig into United’s success and discover how it’s closing the margin gap with Delta despite clear structural disadvantages.

Allegiant and Sun Country are merging at a time when low-cost models are under pressure – and even Delta is flagging weakness in its Main Cabin. In this week's feature story, we explore the strategic logic, risks, and opportunities behind the low-cost leisure tie-up.

With plans underway for a $10 billion mega-airport designed to rival Atlanta in scale, Ethiopian Airlines is doubling down on a growth strategy that many would consider over-audacious given the country's economic realities. However, Ethiopian’s track record, network reach, and impressive financial performance suggest this is no ordinary gamble, as we discover in this week's feature story.

The global airline industry navigated another turbulent year, marked by geopolitical shocks, shifting demand, and big strategic bets — yet it emerged highly profitable. From the softening of U.S. markets to the wave of post-bankruptcy success stories, 2025 delivered no shortage of plot twists. In this week’s feature story, we break down the most important industry trends and developments shaping the year just ended and ask the critical questions airlines face heading into 2026.

David Neeleman launched Breeze with the promise of reinventing travel for underserved cities. Nearly five years on, the U.S. airline still hasn’t cracked annual profitability. With rising costs, powerful rivals, and a growth plan that stretches from Jamaica to California, 2026 will be a pivotal year. In this week’s feature story, we explore the factors that will determine whether Neeleman’s latest venture can finally take off.