Points to watch: 1) Middle East developments; 2) passenger demand/unit prices on domestic/international routes; (3) macro environment for air cargo business/LCCs. July 13, 2026 08:55 AM GMT Airlines | Japan M Idea F3/27 1Q Results Focus Points 1Q results unlikely to provide meaningful catalysts. Key point is demand outlook from July. Share prices are starting to turn around, but we think still too soon to turn bullish. Airline industry 1Q results announcements start with ANA on Jul 29. Expect sharp fall in ...