This is not a replacement for the old MacBook Air, it's a new 13" MacBook
The old Air had an i5-5350U 15W CPU, where as the new Air has a Core i5-8200Y 7W CPU
MacBook Air (128GB) - i5-5350U 15W CPU - 999$
MacBook (256GB) - Core m3-7Y32 7W CPU - 1299$
MacBook Air Touch (128GB) - Core i5-8200Y 7W CPU - 1199$
MacBook Pro nTB (128GB) - Core i5-7360U 15W CPU - 1299$
That means that the current MacBook Pro nTB is really the new Air if you looking only at performance (better cpu, gpu and screen). It's not worth it to buy the new Macbook Air Touch, when you get an MacBook Pro nTB for only 100$ more. The only things you will be missing is 3. gen keyboard and Touch ID.
The old Air had an i5-5350U 15W CPU, where as the new Air has a Core i5-8200Y 7W CPU
MacBook Air (128GB) - i5-5350U 15W CPU - 999$
MacBook (256GB) - Core m3-7Y32 7W CPU - 1299$
MacBook Air Touch (128GB) - Core i5-8200Y 7W CPU - 1199$
MacBook Pro nTB (128GB) - Core i5-7360U 15W CPU - 1299$
That means that the current MacBook Pro nTB is really the new Air if you looking only at performance (better cpu, gpu and screen). It's not worth it to buy the new Macbook Air Touch, when you get an MacBook Pro nTB for only 100$ more. The only things you will be missing is 3. gen keyboard and Touch ID.