European Transportation: Monthly Aviation Demand Tracker: May 2026

Research evidence excerpt

European Transportation: Monthly Aviation Demand Tracker: May 2026

Equity Research

29 May 2026

European Transportation

Monthly Aviation Demand Tracker:

May 2026

UK card spending and web traffic both weaken further, app European Transportation

usage steady. April short-haul fares up YoY for major NEUTRAL

LCCs, flags softer. Forward fare curves varied – European Transportation

Andrew Lobbenberg

EZJ/RYA/Tui/NAS strong, Wizz /Jet2 weak. N Atlantic economy +44 (0)20 3555 0639

fares softer for most carriers, S Atlantic holding up andrew.lobbenberg@barclays.com

Barclays, UK

Rahul Singh

Barclays proprietary card data suggests airline spend even softer yet again: UK Spend

+91 (0)22 6175 2529

Trends 2.0 signals suggest that over the 28 days through 15 May 2026, UK consumer spending on rahul.xb.singh@barclays.com

airlines decreased by -12.6% YoY, a further softening vs the previous 28 days. This is consistent Barclays, UK

with company commentary that consumers are reluctant to book peak summer travel at this

Marco Limite

time due to the war. +39 (0)2 6372 2582

marco.limite@barclays.com

Weakening airline spending across age groups, ending a long-standing trend: We had

BBI, Milan

previously seen a very clear divergence between older and younger consumers, with the oldest

consumers increasing spend while the younger consumers decreased spend. However, this Pierre Rousseau

+33 (0)1 4458 3377latest trend downwards in airline spending has hit all age groups, with yoy declines across the

pierre.rousseau@barclays.com

board. However, the relative spread across the ages remains relevant. Older demographics see

BBI, Paris

spending fall less than younger.

Data Science & Applied AI

April screen-scraped fares show very diverse outcomes, data vulnerable to changing Vincenzo Pota(iii)