S&P, a global ratings agency, said that JetBlue Airways was downgraded to "CCC+" on Monday from "B-", pushing it further into junk status as high jet fuel prices?have hampered its recovery. The 'low-cost carrier' has been trying to restore its profitability by cost cutting, network changes, and improving operational reliability. However, higher fuel prices have complicated the turnaround plans. Low-cost and budget airlines are particularly vulnerable to fuel price spikes linked to the Iran War, as they have limited capacity to pass higher costs on to customers without risking their demand in a highly competitive travel market. S&P stated that...

In a 'Monday statement, the Canadian finance ministry announced that a new loan programme would be launched to assist domestic airlines in dealing with high fuel costs and maintaining operations and jobs. The 'Iran war' has caused jet fuel prices to skyrocket, eroding profit margins and straining balance sheets. This pressure has led governments to extend support to domestic carriers in order to maintain affordable airfares and preserve competition. The Canadian government said that under the 'loan program', eligible airlines will receive up to C$150,000,000 ($107.5 Million) in repaid liquidity support. The government must also balance the need to protect...

Two?German government officials told?Monday that the German Chancellor Friedrich Merz, and French President Emmanuel Macron, have concluded that companies involved 'in building a?joint fighter jet cannot?reach an agreement. The sources said that both leaders agreed to continue developing a drone system and data networks related to the Future Combat Air System project. Macron's office didn't immediately respond to a request for comment. The failure to reach agreement on the EUR100 billion ($116 billion) project highlights the "struggles" Europe has faced rebuilding its military capability after decades of underinvestment. According to a German government source, Merz and Macron discussed Friday the...

The 'Middle East conflict' is driving up jet fuel costs, according to the?U.S. Transportation Department announced Monday. USDOT's monthly report stated that fuel costs for airlines were up by 26% compared to March. Carriers also used 2.6% less gasoline in April than they did in March. Fuel prices in April were $4.11 per gallon, an increase of $1.81 compared to April 2025. This trend has already affected the industry. Spirit Airlines, a low-cost U.S. airline, shut down in May because of rising fuel prices. Delta Air Lines is the largest domestic airline in the United States, followed by United Airlines,...

CEO Jerome Cadier said on Monday that 'LATAM Airlines Brazil's Brazilian unit will reduce?capacity in July by 3% compared to its initial plans for the period because of a?rise in fuel costs. Cadier, in an interview at the International Air Transport Association annual general meeting held in Rio de Janeiro, said that the move would be a repeat of a reduction made in June. Fuel price shocks related to the Iran war have forced airlines worldwide, including LATAM, to reduce capacity on certain routes and adjust ticket prices upward. LATAM Brasil has adjusted its expectations to 11% growth by 2025....

As regional carriers rebuild their schedules following war-related disruptions, some airlines are gradually restoring flights to the Middle East. However, the conflict continues disrupting wider traffic flows. Middle Eastern airlines have increased capacity following the severe disruption caused by the Iran War, but many other carriers are still diverting Europe to Asia flights in order to avoid the Middle East. The latest flight information is listed below alphabetically: AEGEAN AIRLINES Thessaloniki-Tel Aviv flights were cancelled by Greece's biggest carrier until June 26. The flights?to Dubai have been cancelled until August 31 and those to Erbil,?Baghdad and?Baghdad are cancelled until July...

Analysts predict that the 2026 FIFA World Cup in host countries will bring billions of dollars to their economies. This will be fueled by a massive surge in consumption, which will boost sectors from retail to tourism and athletic wear. The tournament is set to be held from June 11 through July 19, and will be the biggest soccer event ever. This could drive consumer spending in a period when broader demand remains fragile. According to FIFA's analysis of the socioeconomic impact, which was conducted in conjunction with World Trade Organization (WTO), the first three-nation World Cup --?spanning a?the United...

Indian shares dropped on Monday, following a sharp sell-off in Asian markets. Crude prices also spiked as a result of the escalation in the Middle East conflict. Brent crude rose 4.3% to $97 per barrel as fears grew of a wider conflict, and disruptions in oil supplies. India's benchmark Nifty50 fell 1.04%, to 23,123. The BSE Sensex dropped 0.97%, to 73.524.26, both blue-chip indices closing at two-month-lows. Financials and IT, which are high-weighted sectors, lost 1% each, while the other 15 major sectors gained. Small-caps and midcaps both declined by 1.9%?and 1.4% respectively. The MSCI Asia ex Japan index fell...

Indian shares fell early on Monday as they tracked a sharp selloff in?Asian markets and crude prices spiked because of the escalation in the Middle East conflict. Brent crude jumped 3.5% to?about $96.5 per barrel, after Iran launched missiles against Israel in response to Israeli strikes on Beirut. This reduced hopes of an end to the war and raised fears about continued disruptions to oil supply. India's benchmark index Nifty 50 dropped 0.95% at 23,142.20, and the BSE Sensex fell 0.95% at 73.529.06 as of 9:50 a.m. IST. Thirteen out of 16 major sectors fell, with the high-weighted financials and...

Indian shares opened lower on Monday as they tracked a sharp selloff across Asian markets due to a'spike in oil price,' a resurgence of Middle East tensions, and fears about a U.S. rate hike. By 9:15 a.m. IST, the benchmark Nifty fell 1.22%, to 23,080.70. The BSE Sensex dropped 1.11%, to 73,421.61. All 16 major industries?recorded losses. Financials and IT stocks with high weighting lost 1,3% and 1.5% respectively. The small and mid-caps fell by 1.2% and 1,3% respectively. Brent crude futures rose 3.5% to $96.5 per barrel after Iran fired'missiles' at Israel following Israeli strikes in Beirut. This reduced...

Indian shares are expected to open lower Monday as they follow a sharp selloff in?Asian markets due to a spike of oil prices, renewed Middle East tensions, and growing fears about a U.S. rate hike. As of 8:06 am, Nifty futures were trading at 23138. IST indicates that the Nifty will open about 1% lower than its previous close, which was 23,366.70. Brent crude futures increased 3.5% to $96.5 per barrel, after Iran launched missiles against Israel in response to Israeli strikes on Beirut. This reduced hopes of an end to the war as a whole and raised fears about...

LATAM Airlines' Chief Executive?Roberto Alvo warned that the industry could be forced to reduce capacity if fuel prices continue to rise into 2027. He also said there would be increasing pressure on airlines. Alvo said in an interview at the International Air Transport Association annual meeting in Rio. "At the end, that's the only thing you can do to try and balance the equation in the industry." Alvo said that airlines with stronger balance sheets, and more premium passengers were better positioned to absorb the fuel shock. He said that carriers with weaker finances, or those who are more exposed...