FlightGlobal
• Graham Dunn
Latvia’s state-owned airBaltic is pivoting from expansion to financial stabilization, reducing its Airbus A220-300 fleet from 54 aircraft to 36. The restructuring includes cost reductions and a proposed debt-for-equity swap as the carrier seeks to restore profitability and strengthen its balance sheet.
Europe
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Global business aviation flying activity increased 5.6% in July 2026, according to Argus, even as Europe recorded its first year-over-year decline in 14 months. Stronger activity in North America drove the overall gain, highlighting diverging regional conditions across the business aviation market.
Providers of the UK Military Flying Training System detail current activity across a 110-aircraft fleet as the system enters its second decade. The RAF’s requirement to replace the BAE Systems Hawk is sharpening attention on the future structure, capacity and industrial base for military aircrew training.
Swedish authorities detained a Russian couple who were camping near a cottage used by Saab CEO Micael Johansson, who is under personal protection. The incident highlights the heightened security environment surrounding senior defense-industry executives and sensitive corporate sites amid regional tensions.
High activity
Istanbul Airport surpassed London-Heathrow to become Europe’s busiest airport in July 2026, prompting Heathrow to argue that the case for expansion has never been clearer. The shift highlights the competitive pressure on Europe’s major hubs as airports vie for capacity, connectivity and passenger traffic.
High activity
Latvia’s state-owned airBaltic is pivoting from expansion to financial stabilization, reducing its Airbus A220-300 fleet from 54 aircraft to 36. The restructuring includes cost reductions and a proposed debt-for-equity swap as the carrier seeks to restore profitability and strengthen its balance sheet.
COSPAR has re-elected Dr. Pascale Ehrenfreund as president following its 2026 assembly in Florence, which drew approximately 3,000 attendees. The event covered a broad range of space research and operations, from planetary science to human spaceflight, underscoring the organization’s role as a convening forum for the sector.
Italy has appointed career diplomat Mario Cospito as extraordinary commissioner of the Italian Space Agency, placing a senior government representative in charge of the agency. The appointment marks a leadership change at a key European institution overseeing Italy’s national space activities.
Vertical Aerospace has secured approximately $100 million in financing commitments from existing and new investors to support certification and commercialisation of Valo, its piloted four-passenger electric vertical-takeoff-and-landing aircraft. The funding comes as the Bristol-based company advances the program toward critical design review and production.
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