State of the Global Airlines Union

研报英文原文证据摘录

State of the Global Airlines Union

Update

July 16, 2026 04:01 AM GMT

Morgan Stanley & Co. LLCMAirlines | North America Ravi Shanker

Equity Analyst

State of the Global Airlines Ravi.Shanker@morganstanley.comMorgan Stanley Asia Limited+ +1 212 761-6350

Qianlei Fan, CFA

Equity AnalystUnion Qianlei.Fan@morganstanley.com +852 2239-1875

Together with our Global Airline colleagues, we highlight Morgan Stanley MUFG Securities Co., Ltd.+

Takuya Osaka

Equity Analystimportant topics and updates that occurred over the past

Takuya.Osaka@morganstanleymufg.com +81 3 6836-5438

month.

Morgan Stanley México, Casa de Bolsa, S.A. de C.V.+

In order to get a better sense of the Global Airline space, we are updating our Jens Spiess, CFA

monthly State of the Global Airlines Union report. This includes data for domestic Equity Analyst

Jens.Spiess@morganstanley.com +52 55 5282-6614

and international airline companies, trends, capacity, and other key metrics.

Morgan Stanley & Co. International plc+

See below for key highlights this month: Axel Stasse

United States: Our AlphaWise survey shows a modest increase y/y in travel Axel.Stasse@morganstanley.com +44 20 7425-2429

intentions over the next 6 months to 63% (vs. 58% last update and 61% the same Morgan Stanley India Company Private Limited+

time last year). Travel intentions over the N6M taking a healthy step up vs. last Binay Singh

survey is in-line with the commentary we have been hearing recently from the Binay.Singh@morganstanley.com +91 22 6118-1158

airlines who have pointed to strong demand across all segments and no cracks being

seen as fuel prices begin to moderate.

Japan: ZIPAIR’s low-cost business model remains a key differentiator amid macro

uncertainty, supported by strong inbound demand, industry-leading cost