Which carriers will thrive? Long-haulers or short-hoppers? The no-frills or the glitzy? The bailed-out or the muddled-through? Our industry editor scans the skies. Record numbers of Latin American migrants heading for America’s southern border mask another trend: many are stopping and making a home in Mexico. And Japan’s storied but declining public bathhouses get hipster makeovers. 

For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/intelligenceoffer