What‘s Up at the Terminal: UAL EPS & New Middle Seat; Starlink; June CPI

Research evidence excerpt

What‘s Up at the Terminal: UAL EPS & New Middle Seat; Starlink; June CPI

Airlines

Equity Research

July 19, 2026

Americas

Allegiant Names Expedia as First Authorized OTA Partner. Allegiant entered a 12-month exclusive

partnership with Expedia Group, making Expedia its first authorized OTA partner and adding Allegiant’s

566-route network across 124 U.S. cities to Expedia’s U.S. brands. The deal expands visibility to leisure

travelers through a major third-party marketplace.

AAL and Starlux Seek DOT Approval for Codeshare. AAL and Taiwan’s Starlux Airlines applied to

the DOT for blanket codeshare authority, expanding on the 2025 interline agreement that allowed AA-

coded Starlux flights between Taiwan, the U.S. and beyond, and JX-coded American flights across the

U.S. The partnership would deepen AAL’s Taiwan connectivity and give Starlux broader U.S. feed as

the carrier scales long-haul capacity.

CPA June Traffic Growth Lags Capacity. Copa’s June capacity rose 16.4% year-over-year, while traffic

increased 13.3%, driving load factor down 2.3 pts to 85.2%. The data points to demand growth, but

with capacity outpacing traffic and modest pressure on utilization.

DAL Expands SAF Partnership with Shell Aviation. Delta signed a five-year agreement with Shell

Aviation to expand sustainable aviation fuel supply and delivery capabilities at major hubs including

LAX, PDX, JFK, BOS and MSP. The deal is supportive of Delta’s 10% SAF usage target by 2030.

Sun Country Route Transfer Approved by DOT. The DOT approved the transfer of Allegiant and Sun

Country’s international route authorities following Allegiant’s May acquisition of Sun Country, stating

that the deal would be complementary given only one overlapping route across 650+ nonstop markets.

Europe & Middle East