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Independent coverage of airline strategy, financial results, and industry developments.
Hindenburg Research Targets Ryanair: What the 140-Page Report Actually Says
The short-seller's latest broadside alleges accounting irregularities in ancillary revenue recognition and questions the carrier's aggressive capacity guidance. We break down the key claims — and what the market is missing.
Delta Q1 2026 Earnings: Transatlantic Holds, Domestic Yields Soften
Revenue per available seat mile came in ahead of consensus on international routes while domestic pressure continues to build heading into summer capacity season.
Why IAG's Iberia Has Quietly Become Europe's Most Efficient Carrier
Three years of fleet renewal and labour restructuring have transformed Iberia's cost base. The numbers now rival Ryanair on medium-haul — and the market hasn't priced it in.
Norse Atlantic: The Bear Case Is Getting Harder to Ignore
Load factors are recovering but unit revenue remains structurally challenged. A forensic look at the cash burn trajectory and what the next capital raise might look like.
Air Freight Rates Spike 18% as Red Sea Diversions Squeeze Belly Capacity
The ongoing rerouting of container shipping is creating unexpected upside for cargo-heavy operators. IAG Cargo and Lufthansa Cargo are the primary beneficiaries in Europe.
SAS Post-Restructuring: A Leaner Airline, But Is the Strategy Coherent?
Emerging from Chapter 11 with a slimmed fleet and a new investor base, SAS faces a strategic identity crisis. Network carrier economics in a low-cost dominated Scandinavian market.