
Flightline would like to wish you and your family a Happy and Prosperous New Year. Nigel and I want to thank everyone for their support over the past half-year as we have gotten Flightline off the ground. We've had our ups and downs and are still trying to figure out how to make this work long-term, but thank you for reading. We're trying out a polished format as we kick off 2026. On to our usual reporting!
What’s Inside:
As we ring in 2026, this edition tracks shifts in connectivity and fleet modernization. We dive into PIA’s return to LHR, China’s Airbus orders, and the launch of Navi Mumbai’s new gateway.
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Fleet Intelligence
| Rego | Type | Operator | Date |
|---|---|---|---|
| A6-EXP | Airbus A350-941 | Emirates (EK) | Dec 29, 2025 |
| A7-BHZ | Boeing 787-9 | Qatar Airways (QR) | Dec 29, 2025 |
| A7-BRG | Airbus A320neo ACJ | Qatar Amiri (QAF) | Dec 30, 2025 |
| B-32P3 | Airbus A321neo | China Southern (CZ) | Dec 30, 2025 |
| B-32PM | Airbus A321neo | Qingdao Air (QW) | Dec 29, 2025 |
| B-32PP | Airbus A320neo | China Southern (CZ) | Dec 30, 2025 |
| B-32PS | Airbus A321neo | China Southern (CZ) | Dec 30, 2025 |
| B-659K | Comac C919-100ER | Air China (CA) | Dec 29, 2025 |
| C-GKZA | Embraer E195-E2 | Porter Airlines (PD) | Dec 30, 2025 |
| CC-BMB | Boeing 787-9 | LATAM Chile (LA) | Dec 30, 2025 |
| EC-ORE | Airbus A321neo XLR | Iberia (IB) | Dec 30, 2025 |
| F-HOZA | Airbus A220-300 | Air France (AF) | Dec 30, 2025 |
| G-UZML | Airbus A321neo | easyJet (U2) | Dec 30, 2025 |
| HS-LVZ | Boeing 737-9GPER | Thai Lion Air (SL) | Dec 30, 2025 |
| N14563 | Airbus A321neo | United Airlines (UA) | Dec 29, 2025 |
| N17421 | Boeing 737-9 MAX | United Airlines (UA) | Dec 30, 2025 |
| N261BZ | Airbus A220-300 | Breeze Airways (MX) | Dec 30, 2025 |
| N3293J | Airbus A220-300 | JetBlue (B6) | Dec 30, 2025 |
| N338AS | Embraer ERJ-175LR | American Eagle (MQ) | Dec 29, 2025 |
| N339HG | Embraer ERJ-175LR | American Eagle (MQ) | Dec 29, 2025 |
| N34562 | Airbus A321neo | United Airlines (UA) | Dec 29, 2025 |
| N637SY | Embraer ERJ-175LL | SkyWest (OO) | Dec 23, 2025 |
| N638SY | Embraer ERJ-175LL | SkyWest (OO) | Dec 29, 2025 |
| N674FR | Airbus A321neo | Frontier (F9) | Dec 29, 2025 |
| PS-ADN | Embraer E195-E2 | Azul (AD) | Dec 30, 2025 |
| TC-LHI | Airbus A350-941 | Turkish Airlines (TK) | Dec 30, 2025 |
| TC-LRA | Airbus A321neo | Turkish Airlines (TK) | Dec 29, 2025 |
| VN-A553 | Airbus A321neo | VietJetAir (VJ) | Dec 29, 2025 |
| VN-A554 | Airbus A321neo | VietJetAir (VJ) | Dec 30, 2025 |
| VT-NHO | Airbus A321neo | IndiGo (6E) | Dec 30, 2025 |
| VT-NHR | Airbus A321neo | IndiGo (6E) | Dec 29, 2025 |
| YL-BTB | Airbus A220-300 | airBaltic (BT) | Dec 30, 2025 |
Aviation Security
U.S. airports can now request expanded biometric data from international travelers under a new policy that took effect December 26, significantly broadening federal screening authority. In addition to facial scans and photographs, U.S. Customs and Border Protection (CBP) may request fingerprints and, in certain cases, DNA from non U.S. citizens entering or leaving the country, with collected data potentially stored for decades. The rule removes previous age exemptions and applies to travelers of all ages, reflecting a broader Trump administration push to tighten immigration enforcement and deter abuse of the system. Civil rights groups have raised concerns about privacy, data retention, and bias in biometric technologies, while additional proposals could further expand vetting to include social media histories and personal contact information for visitors from dozens of countries.
Aviation Industry News
The top three airport rail stations for total entries and exits in the U.K. in 2025 were Gatwick (21.2 million), Heathrow (14.7 million), and London Stansted (10.1 million).
Jeddah, Saudi Arabia (JED) welcomed its 50 millionth passenger of the year earlier this month, marking the first time any airport in the country has gone over the 50 million mark.
AAR Aircraft Services announced it will permanently close its airframe maintenance facility at Indianapolis (IND) and phase out operations through February 2027, impacting about 329 employees in the Indianapolis area. The closure stems from a strategic shift after AAR’s acquisition of HAECO, and a WARN notice filed with the state outlines that layoffs will begin in February 2026 and continue in phases through early 2027. The plant-level shutdown marks the end of AAR’s heavy aircraft maintenance operations at the site, which has served the airport and local workforce for years, prompting concerns about job losses and the future use of the facility.
China Aircraft Leasing Group Holdings Limited has placed a firm order with Airbus for 30 additional A320neo Family aircraft, announced in Toulouse on December 30, 2025. The deal brings China Aircraft Leasing Group Holdings Limited total Airbus backlog to 282 aircraft, including 203 A320neo Family jets, underscoring sustained global demand for fuel efficient single aisle aircraft.
I always find these airport purchases interesting. Dallas/Fort Worth (DFW) is purchasing an industrial incinerator for $613,763. The incinerator will be used by the airport’s police department to enable “proper local destruction of evidence and materials following the retention period. At present, no suitable disposal facilities exist in the Dallas/Fort Worth area and transporting these substances long distances poses operational and logistical challenges. The facility may also create revenue opportunities by offering incineration services to other local law enforcement agencies.” I would note I have a fire pit in my backyard which is failing to generate any revenue from law enforcement agencies (or any parties) needing to burn files, although if I am being honest I’m not a very good marketer.
Rental car revenue at Denver (DEN) is down over 18 percent for the first 11 months of the year. The airport collected $28.2 million in November, bringing the year-to-date total to $566.48 million - over $65 million less than the same period in 2024.

In a significant move for the Chinese aviation sector, Spring Airlines (9C) and Juneyao Airlines announced plans on December 29, 2025, to purchase a combined 55 Airbus A320neo family jets valued at approximately $8.2 billion, based on list prices. According to stock exchange filings, Spring Airlines has committed to 30 A320neo aircraft for up to $4.13 billion, while the full service Shanghai-based Juneyao Airlines intends to acquire 25 jets for roughly $4.1 billion. These aircraft are scheduled for delivery in batches between 2028 and 2032, reflecting a strategic push by both carriers to secure production slots and modernize their fleets with more fuel-efficient technology. While the deals are a major win for Airbus, furthering its lead in the Chinese market over competitors like Boeing, both agreements still require formal approval from the Chinese government before they can be finalized.
Allegiant Air (G4) flew 1,343,190 scheduled passengers in November, a 10.6 percent annual increase over 2024. The Las Vegas-based carrier filled 80.5 percent of its available revenue seats during the month across 9,684 flights. The average stage length of those missions was 883 miles; Allegiant paid an average of $2.76 per gallon of gas in November.
Cathay Pacific Airways (CX) flew 2,530,436 passengers in November, a hefty 26 percent annual bump over the same month one year prior. Cathay filled 87 percent of its available revenue seats across 10,011 flight sectors in the month. Regional subsidiary HK Express (UO) flew 639,120 passengers during November, which was a 27 percent annual increase. This translated into an 83.4 percent system-wide load factor on 3,600 flights.
The Japan Airlines Group flew 3,251,910 passengers in November and realized an 87.2 percent system-wide load factor during the month. Low-cost carrier ZIPAir Tokyo (ZG) enjoyed a 77.5 percent system-wide load factor in November with 106,282 passengers on board its flights.
The All Nippon Airways Group flew 773,320 international passengers in November, which was over 16 percent more than the same month in 2024. System-wide load factor for the month was 86.9 percent. Domestically, ANA welcomed 4,015,035 passengers and enjoyed an 84.5 percent system-wide load factor in November.
📈 Flightline Financials 🏦
|
Airline & Airport Operator Stock Prices Closing Price: December 31, 2025 |
|||
|
AAL American $15.33 |
AERO AeroMexico $18.84 |
ALGT Allegiant $85.31 |
ALK Alaska $50.30 |
|
BA Boeing $217.11 |
CPA Copa $120.61 |
DAL Delta $69.41 |
EMBJ Embraer $64.34 |
|
JBLU JetBlue $4.55 |
LTM LATAM $54.12 |
LUV Southwest $41.35 |
RJET Republic $18.45 |
|
RYAAY Ryanair $72.22 |
SNCY Sun Country $14.61 |
SKYW SkyWest $100.41 |
UAL United $111.83 |
|
ULCC Frontier $5.62 |
VLRS Volaris $7.68 |
WTI OIL Per Barrel $57.42 |
|
|
ASR Asur $318.55 |
OMAB OMA $108.14 |
PAC GAP $258.90 |
CAAP Corp America $25.82 |
|
Global Currency Exchange Rates $1 USD Equals: As of December 31, 2025 |
|||
|
EUR Euro 0.85 |
GBP British Pound 0.74 |
MXN Mexican Peso 18.02 |
CAD Canadian Dollar 1.37 |
Daily Passenger Counts at U.S. Airports, 2025 vs. 2024

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