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European airlines are grappling with declining profits amid rising operational costs and delivery delays from Boeing. Ryanair reported an 18% drop in profits, while Air France-KLM's earnings fell short of expectations due to reduced travel during the Paris Olympics. British Airways' parent company, IAG, posted strong profits, contrasting with its competitors' struggles.
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Singapore Airlines is investing over $800 million to retrofit its long-haul fleet with new first-class and business-class seats, responding to a resurgence in demand for luxury travel. The airline aims to enhance passenger experience with privacy doors and upgraded amenities, while competing against Gulf carriers and addressing evolving customer preferences.
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British Airways and Cathay Pacific are enhancing their premium cabin experiences with new first-class offerings. British Airways will debut its upgraded first class on Airbus A380s in 2026, while Cathay Pacific has introduced the Aria Suite on its Boeing 777-300ERs. This trend reflects a broader shift in the airline industry towards luxury travel.