EXPE · 10-Q · 2026Q2 · Full report

Air Demand and Capacity

Expedia Group, Inc. · 2026-08-06 · Importance 45 · Surprise 50

Events in the Middle East reduced global air capacity and caused a material increase in prices during 2026. Higher prices adversely affected Expedia’s booked air-ticket volume, although the impact on total booked value was less pronounced. Booked air tickets declined 5% in the second quarter of 2026, despite air bookings growing in line with lodging. Expedia expects potential pressure on air remuneration as carriers consolidate, more airlines adopt direct-connect technology, and supply agreements renew.

Key facts

• Booked air tickets decreased 5% in the second quarter of 2026. source
• Air revenue decreased for the three and six months ended June 30, 2026 compared to the same periods in 2025, primarily driven by lower revenue per ticket, as well as 5% lower air tickets sold during the three months ended June 30, 2026. source