DUBLIN – January 26, 2026 – Michael Cox, Seabury Aviation Partners’ Vice Chairman, appeared at Airline Economics’ Growth Frontiers Global conference in Dublin to discuss the key trends in aviation and potential future concerns.

Cox underscores that premium travel demand continues to expand and low fuel costs are easing cost pressures, enabling most airlines to achieve a strong operating performance and substantially reduce the remaining balance sheet overhang of the COVID-19 effects.

As the first wave of next generation aircraft near their lease expirations, Cox expects that airlines are likely to face significant cash pressures to manage end of lease costs. While fuel cost are relatively low, higher interest rates and labor costs also present challenges particularly if a recessionary environment materializes. He sees the ongoing geopolitical volatility, including airspace restrictions, as another potential source of operational and financial challenges in the medium term.

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