The hedge book is the only thing keeping low-cost alive
From Spirit's $2.24/gallon assumption to Ryanair's 80% hedge at $67/barrel: a Pro analysis of where the low-cost model breaks under fuel stress, and which carriers are closest.
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Pro Insider - Sunday 23 August 2026
Engine overhaul times have tripled since 2019. More than 22,000 technician positions remain unfilled. Southwest posted record Q2 revenue despite $889mn in additional fuel expense. airBaltic bondholders approved short-term relief on August 17.
Southwest has abandoned the model that built it
Southwest posted record Q2 revenue of $8.4bn, up 16.4%, in the first full quarter with all transformation initiatives in place. Managed business revenue up 30%, RASM up 16.2% on flat capacity. The data shows the transformation is working, at least for now.
The engine shop is aviation's new binding constraint
Engine overhaul turnaround times have tripled since 2019. More than 22,000 MRO technician positions are unfilled. Shop visit wait times stretch 2 to 6 months. A Pro analysis of how the MRO crisis became the binding constraint on global airline growth.
WestJet completes Swoop and Sunwing cabin overhaul
WestJet completed the cabin transformation of its remaining all-economy Boeing 737 aircraft on 18 August 2026, integrating former Swoop and Sunwing fleets into a three-class product. The airline also completed legroom restoration ahead of schedule.