European Aviation: Capacity Tracker: June 2026

Research evidence excerpt

European Aviation: Capacity Tracker: June 2026

Equity Research

9 June 2026

European Aviation

Capacity Tracker: June 2026

Summer short-haul (4.5%) and Atlantic (1.0%) growth both

slightly lower than in last month's review. Mid East capacity

trends also drop, now down 8.0% YoY and a small decline in European Transportation NEUTRAL

Asia growth rate to 11.4%. Wizz growth rate slightly down but European Transportation

still very high. Lufthansa now shrinking and IAG near flat. Andrew Lobbenberg

+44 (0)20 3555 0639

andrew.lobbenberg@barclays.com

Note that capacity outlooks beyond a three-month period should be viewed with caution as Barclays, UK

they are subject to even sharper revisions than the closest three months, though in the present

Rahul Singhcircumstances schedules are also evolving at short notice. We have introduced Nov-26 in this

+91 (0)22 6175 2529

edition. For now, filed schedules show only small reductions adjustments in 2Q26 vs our last

rahul.xb.singh@barclays.com

edition except for Middle East routes, where capacity reductions continue at pace and now Barclays, UK

down mdd YoY.

Marco Limite

Summer short-haul Europe capacity growth slows ca 50bps in last month, still up MSD: The +39 (0)2 6372 2582

rate of capacity growth in 2Q is at 4.3% YoY, 60 bps lower from our last edition for May 2026, marco.limite@barclays.com

BBI, Milanthough still ahead of the 1Q rate of 3.6% YoY. Further out in peak summer, 3Q26 schedules show

capacity growth of 5.4% YoY, 50bps lower vs the April edition. Recent capacity cuts reflect a European Construction, Building

blend of economic decisions due to the jet fuel price, availability concerns, industrial relations Materials & Infrastructure

challenges and maintenance issues. Pierre Rousseau

+33 (0)1 4458 3377