Jay Shabat

U.S. airline consolidation chatter is deafening. But it might be much talk about nothing. At last week’s Bernstein investor conference, airline CEOs poured cold water on the speculation. United’s Scott Kirby called the economics of buying JetBlue “mathematically close to impossible."

When Spirit Airlines collapsed, Fort Lauderdale looked destined for decline. Instead, a new battle for South Florida is erupting. JetBlue is aggressively expanding, Frontier is rapidly rebuilding, and Breeze and Allegiant are flooding the market with new routes of their own. We examine the airport’s next chapter in this week’s feature story.

Iberia has quietly become one of the world's most profitable airlines — its 16.4% operating margin now rivals Ryanair, completing a decade-plus turnaround from near-Alitalia-level dysfunction.

Singapore Airlines has a bad habit: buying into troubled airlines. Virgin Australia, Ansett, Air New Zealand — the list of regrettable investments is long. Now, its 25% stake in Air India is turning into perhaps the most painful bet yet. The timing couldn’t be worse. Even as Singapore Airlines itself benefits from booming premium demand and travelers rerouting through Changi instead of the Gulf, Air India is hemorrhaging money. Can SIA turn the investment around? We take a closer look in this week’s feature story.

Don’t worry, be happy? Despite surging fuel prices, labor unrest, and Middle East disruptions, Lufthansa Group insists it can emerge from the current crisis stronger than before. But beneath the confidence lies a more complicated reality. Can Europe’s largest airline group navigate another industry shock without losing altitude? We take a closer look in this week’s feature story.

Spirit Airlines is no more. The pioneer of ultra-low-cost flying in the U.S. was ultimately undone by surging fuel prices, failed bailout talks, and a model that couldn’t keep pace with a changing market. Its collapse sees 14,000+ jobs lost, reshapes competition across key routes, and presents a curious question: Who, if anyone, will fill the gap? We unpack the immediate fallout and ask what comes next in this week's issue.

The end of Spirit may not be the end of an era so much as the beginning of a reckoning. When fuel spikes, a botched merger, and a premium-obsessed traveler all show up at the same gate, the ultra-low-cost model doesn't just lose altitude — it stalls.

Drama, drama, in the air. Drama, drama everywhere. The U.S. airline industry is witnessing dramatic changes indeed. No, United isn’t merging with American. But Southwest is quietly achieving a heroic turnaround, posting Delta-like profit margins. But as Southwest soars, Alaska Airlines is flying in the opposite direction. We take a closer look in this week’s feature story.

Few markets shine brighter than Puerto Rico, where booming tourism and shifting airline strategies have resulted in a remarkable surge. Now, rising fuel costs and industry shakeups are testing that momentum. We take a closer look in this week’s feature story.

Will two of America's biggest airlines become one? Gordon and Jay dig into whether a United-American mega-merger is actually on the table and ask what further consolidation would mean for the industry.