UK low-cost carrier EasyJet is seeking to raise £4 billion ($5.5 billion) under its euro medium-term note (EMTN) programme, intended to provide ongoing access to debt-capital markets across multiple currencies. The programme is rated 'Baa2' by Moody's and 'BBB+' by S&P Global Ratings, which mirror EasyJet's own ratings. Ratings on individual note tranches may differ from the programme-level ratings, the airline adds. Societe Generale is acting as arranger, with a broad dealer group including Barclays, BNP Paribas, BofA Securities, Citi, Goldman Sachs, Lloyds, NatWest, Santander and Standard Chartered, among others. The offering circular is dated 16 February.

Brazilian competition authority CADE has approved United Airlines' $100 million purchase of American depositary shares in Azul. The US major's $100 million investment has been "inserted in the context" of Azul's Chapter 11 plan, notes the Brazilian carrier. When it filed for Chapter 11 bankruptcy protection in May 2025, Azul expected that at the end of the process its debtor-in-possession financing obligations would be repaid with proceeds from a share subscription offering of up to $650 million, with a firm guarantee from certain investors, plus possible additional investment of up to $300 million from United and American Airlines. Azul's reorganisation plan gained bankruptcy-court approval in December. The airline intends to conclude its restructuring this month. It is set to report financial results for 2025's fourth quarter on 26 February.

Air Canada reported a full‑year 2025 operating profit of C$918 million ($673 million), down 27% year on year. Total operating revenue increased 0.5% to C$22.37 billion. Operating margin narrowed to 4.1%, compared with 5.7% a year earlier, as expense growth outpaced revenue. Passenger revenue declined 0.8% to C$19.60 billion, while cargo revenue rose 4.2% to C$1.03 billion. Other revenue, including loyalty and ancillary income, increased 15.4% to C$1.74 billion, partially offsetting pressure on passenger yields. Full‑year operating expenses increased 2.2% to C$21.45 billion. Wages, salaries and benefits rose 2.6% to C$5.01 billion, while depreciation, amortisation and impairment climbed 11.8% to C$2.01 billion. Aircraft fuel expense fell 7.6% to C$4.73 billion. Net income for the full‑year 2025 fell 63% to C$644 million, compared with C$1.72 billion in 2024. In the fourth quarter of 2025, Air Canada generated record operating revenue of C$5.8 billion, up year on year, which the airline said helped support full‑year profitability despite cost pressures and operational disruption earlier in the year. Air Canada reported operating income of C$324 million in the fourth quarter, an improvement from an operating loss of C$254 million a year earlier. Net income in the fourth quarter rose to C$296 million, improving from a net loss of C$184 million in the prior‑year period. The airline ended the year with C$5.53 billion in cash, cash equivalents and short‑term investments.