European Aviation Daily: Icarus – 19 June 2026

Research evidence excerpt

European Aviation Daily: Icarus – 19 June 2026

Equity Research

19 June 2026

European Aviation Daily

Icarus – 19 June 2026

Heathrow consultation launched, UK and Australia lift Gulf

travel advisory, IAG CEO takes aim at competition policy

European Transportation

NEUTRAL

•• UK Government launches Heathrow consultation

•• UK and Australia remove advisory against Gulf travel Andrew Lobbenberg

+44 (0)20 3555 0639

•• IAG CEO takes aim at European competition policy constraints andrew.lobbenberg@barclays.com

Barclays, UK

European Aviation: Airlines and airports capacity tracker - Interim update

Rahul Singh

Please find attached an Excel file showing an interim update of our monthly capacity tracker +91 (0)22 6175 2529

rahul.xb.singh@barclays.comreport.

TUI: New cruise ship starts ops, Zanzibar added form UK Helene Iselin

Boerse Zietung (19 June) reports that TUI Cruises is recording strong growth with its new ship +44 (0)20 7773 7391

Mein Schiff Flow, while the share is recovering from its low. helene.iselin@barclays.com

The cruise business is providing TUI with a tangible operational boost. Since Thursday, the new Marco Limite

Mein Schiff Flow has been sailing on its eight-day christening voyage from Trieste. The +39 (0)2 6372 2582

christening takes place today, Saturday, in the port of Trieste, under the motto “Go with the marco.limite@barclays.com

Flow”. BBI, Milan

Emilie Fung

TUI Cruises is not a peripheral business. The company is owned equally by TUI and Royal +44 (0)20 3555 2335

Caribbean Cruises. Together with Hapag-Lloyd Cruises and Marella Cruises, TUI operates a fleet emilie.fung@barclays.com

of 18 ships. Barclays, UK

The segment is delivering. In the first half of the 2026 financial year, adjusted EBIT in the cruise

division rose by 25.9% to €163.5mn.