Capacity Tracker: July 2026

Research evidence excerpt

Capacity Tracker: July 2026

Equity Research

17 July 2026

European Aviation

Summer short-haul (4.9%) and Atlantic (0.9%) growth both

slightly lower than in June review for 3Q. Mid East capacity

trends now down 1.0% YoY and a small decline in Asia growth European Transportation NEUTRAL

rate to 12.9%. Wizz growth rate further climbing. Lufthansa European Transportation

and IAG near flat, AF-KLM up YoY. 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 Dec-26 in this

+91 (0)22 6175 2529

edition to show full year 2026 view. For now, filed schedules show small reductions adjustments

rahul.xb.singh@barclays.com

in 3Q26 vs our last edition. Barclays, UK

Summer short-haul Europe capacity growth slows another 50bps in last month, still up Marco Limite

MSD: The rate of capacity growth in 3Q is at 4.9% YoY, 50 bps lower from our last edition for +39 (0)2 6372 2582

June 2026, though still ahead of the 2Q rate of 4.3% YoY. Further out in early winter, 4Q26 marco.limite@barclays.com

BBI, Milanschedules show capacity growth maintaining 3Q rate of 4.9%. Recent capacity cuts reflect a

blend of economic decisions due to uncertain demand, the jet fuel price, possibly lingering European Construction, Building

availability concerns, industrial relations challenges and maintenance issues. Materials & Infrastructure

Pierre Rousseau

3Q26 long-haul capacity to and from Europe is up 2.4% YoY, North Atlantic capacity +0.8% +33 (0)1 4458 3377