Why Everyone, Including Trump, Is Talking About Airline Mergers

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Why Everyone, Including Trump, Is Talking About Airline Mergers

A few carriers are making a lot of money while many are struggling. President Trump and industry executives seem to think mergers may be the answer.

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After years of mounting costs, thin profits and a greater emphasis on selling premium seats, the airline industry is buzzing about possible mergers, partnerships and a government bailout.

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Dakota Santiago for The New York Times

By

Niraj Chokshi

April 24, 2026,

9:59 a.m. ET

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No planes have been repainted, and no executives have been sacked. Yet Wall Street, Washington and the aviation industry can’t stop talking about plans and deals that would fundamentally shake up U.S. airlines.

The industry has been buzzing for weeks about mergers, partnerships and a government bailout. Why? Years of mounting costs and thin profits have weakened many airlines while a few companies have become dominant by catering to affluent travelers.

The largest airlines account for most of the industry’s profits, but they can’t easily grow without gobbling up rivals to acquire scarce planes and airports gates — the building blocks of this business. And some of the smaller, less profitable carriers, which were struggling to survive, are being walloped by the surging price of jet fuel because of the war in Iran.

Then there is the federal government. President Trump and his aides have recently expressed an openness to airlines mergers, acquisitions and bailouts even though many consumer groups say such deals would leave Americans with fewer airlines to chose from and is likely to lead to higher fares.

“Suddenly, there’s no speed limit on the highway,” said William J. McGee, a former airline dispatcher and a senior fellow for aviation at the American Economic Liberties Project, a left-leaning group. “Not everybody’s going to drive 100 miles an hour, but one or two are going to try.”

Talk of airline deals has intensified in recent weeks, evoking the consolidation wave roughly 15 years ago that left the country with four dominant carriers — Delta Air Lines, United Airlines, American Airlines and Southwest Airlines.

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