As airlines work to make sense of the fallout from the US and Israeli attacks on Iran that began on 28 February, it is becoming clear that the crisis will impact different operators in very different ways.
The week kicks off with massive upheaval in the global airline sector, stemming from the widening conflict in the Middle East, which has led to widespread flight cancellations and significant operational adjustments.
This week sees attention move to Asia-Pacific and Latin America in the fourth-quarter earnings season.
This week will see the first of Europe’s ‘big three’ network airline groups report its fourth-quarter and full-year earnings, with Air France-KLM’s commentary on the outlook regarding demand between Europe and the USA likely to be closely watched.
This week sees a number of carriers report their October-December earnings, including many at the centre of key talking points in the global industry.
Earnings season winds down briefly this week as attention shifts to Asia, where the Singapore air show will take place from 3 February.
Ryanair this week became the first major European carrier to report its October-December earnings and its outlook for 2026, providing an upbeat assessment on what lies ahead.
Earnings season continues this week, with United Airlines and IndiGo reporting their financial results.
The fourth-quarter earnings season kicks off this week with Delta Air Lines having plenty to talk about on its Tuesday earnings call, including a fresh M&A development in the USA
While there are likely to be surprises along the way, it is already possible to cite numerous airline themes to watch out for in 2026.