Jay Shabat

As rivals retreat and Spirit sheds capacity, Frontier is reinventing itself with first-class seats, loyalty perks, and a bold push into new markets. But can it really fly high alone, or is consolidation still the only cure? In this week’s feature story, we weigh up the key question: Is Frontier’s independence its greatest strength or biggest risk?

There was never any doubt Ryanair would deliver a strong third quarter, the real question was just how impressive the summer peak would be for Europe’s largest low-cost airline.

They say when the U.S. sneezes, Mexico catches a cold. That’s certainly true for Mexican low-cost carrier Volaris. Its earnings were in poor health throughout the first half of 2025, largely due to U.S. policies on tariffs and immigration. Those symptoms now appear to be fading. Volaris reports that demand recovered in recent months, with continued momentum into the final months of the year. In this week's feature story, we take a deep-dive look at one of the region's most dynamic operators and ask what could come next.

Earnings season isn't the only hot topic in this week's episode. The ongoing U.S. government shutdown is also weighing heavy on the minds of many in the industry.

Southwest Airlines is changing faster than at any time in its history. Assigned seating, bag fees, even talk of first-class cabins and airport lounges. But are its bold moves starting to pay off? Not quite yet. Southwest's latest results were rough once again, with margins barely positive and far from the glory days that made it a Wall Street darling. Still, there are signs that better times are on the horizon, as we discuss in this week's feature story.

Comparisons with Delta are inevitable, but not always completely accurate. This year's Q3 numbers need additional context to carry their usual clout.

Virgin Atlantic is getting a new captain, but can he steer the airline toward lasting profitability? As longtime CEO Shai Weiss prepares to step down, Corneel Koster inherits a carrier with a famous brand, deep-pocketed partners, but a shaky financial record. In this week’s feature story, we unpack the daunting to-do list awaiting Koster and his team.

Virgin Atlantic is turning to an internal leader with deep operational roots for its next CEO. That suggests an appetite for continuity over a dramatic strategic reset.

Big changes are underway in the U.S. airline market. In its Q3 earnings presentation last week, Delta described a domestic sector that’s getting significantly stronger, but that's far from the only highlight. In our feature story, we dissect the data and cut through the executive commentary to explain why Delta is upending industry norms.

Delta is first out the gates and will set the benchmark for all other U.S. majors to follow. The numbers are likely to be good, the question is, just how good?