SpiceJet, the cash-strapped Indian airline, has suffered another setback after a UK court ordered it to pay $8 million in unpaid rent and maintenance charges for three engines. The London Commercial Court gave a summary judgment in favor of Sunbird France?02 SAS on Wednesday over unpaid rent and maintenance. SpiceJet is still under financial stress following the Boeing 737 Max grounding - and COVID-19 pandemic. It has also been losing market share to competitors such as Akasa Air. Unpaid rents date from January 2022 while maintenance accruals go back to November 2019. The lessor sent default notices to the three...

Dubai Aerospace Enterprise and Blackstone Credit & Insurance have agreed to launch an aircraft leasing investment program that will target a yearly deployment of $1.6 billion. In a press release, the company said that Equator will create a portfolio commercial aircraft for lease by?airlines around the world. DAE will source aircraft from a third party, and its Aircraft Investor Services unit will manage assets. The deal represents the latest expansion of alternative asset management firms into aviation finance. This sector has been attracting increasing institutional interest due to tighter aircraft supply, which is pushing lease rates up. Blackstone Credit and...

Tesla is working on a new smaller and cheaper electric SUV, according to four sources familiar with the matter. In recent weeks, the automaker contacted suppliers to discuss the details of its plan for a compact SUV – which?would not be a variant of Tesla’s current Model 3 and Y's, according to the people. They said that the conversations were about the manufacturing process and specifications of various components. Three of the sources said that the compact SUV will be manufactured in China. One?said Tesla aims to also expand production into the United States and Europe. Two sources claimed that...

Portugal's TAP airline said that its 2025 profits?fell by 92% because of a one-off charge in the fourth quarter which?outweighed increased revenue from higher passenger numbers and better margins. TAP stated that it is "actively" monitoring the developments of the 'Iran -war and will "respond quickly" to any changes in operating conditions. TAP CEO Luis Rodrigues stated that, despite the challenging environment with its cost inflation, significant supply chain and operation constraints and industry-wide, TAP "maintained resilient profit margins and strengthened their financial position". Rodrigues stated that TAP would?launch two routes to Brazil increasing its network to 15 destinations. It...

The U.S. and Israeli war against Iran, which has pushed up jet fuel prices, has shook the aviation industry around the world. Airlines have been forced to increase fares and revise their financial forecasts. In recent weeks, jet fuel prices soared to $150-200 per barrel from $85-$90 per barrel. This is a major financial blow to an industry that relies on fuel for up to 25% of its operating costs. Here is an alphabetical list of the ways airlines are responding to this issue: AEGEAN AIRLINES The Greek airline anticipates that the suspension of Middle East flights and the spike...

These are the most popular stories in the Wall Street Journal. The? has not?verified these stories and does not?vouch for their accuracy. Disney plans to eliminate up to 1,000 jobs in the next few weeks. Many of these will be in the marketing department. Anthropic was denied relief by a federal appeals court Wednesday after the Defense Department declared that Anthropic posed a risk to supply chains. The Trump administration is mulling over a plan that would punish members of the NATO alliance who he feels were unhelpful to the U.S. and Israel during the Iran War. U.S. Treasury secretary...

The US Federal Aviation Administration proposed on Wednesday a civil fine of $255,000 against American Airlines, alleging the carrier had violated employee drug- and alcohol-testing regulations. The FAA proposed an identical fine on Friday against Southwest Airlines. The FAA announced on Wednesday that American had allowed 12 flight attendants to return to safety-sensitive work without having completed all of the required follow-up tests between May 2019 and Dec 2023. American stated that it was reviewing FAA's notice. The'safety' of our team and customers is paramount. The airline stated that it takes drug and alcohol tests seriously, and works with the...

Southwest Airlines is offering to fly wine?free of charge from certain parts of the United States. West Coast airlines have launched new flights to California's wine country, a rare freebie in an era of high fuel prices. The carrier announced on Wednesday that passengers will be able to "check in one case of wine" for free starting April 24, mainly from the wine regions along the West coast. The carrier announced its decision as it began service to Santa Rosa, California on Tuesday. Southwest Airlines and Delta Air Lines announced this week that they will increase fees for checked baggage,...

Delta Air Lines, on Wednesday, halted all capacity expansions for the current quarter. The company also forecast a profit that was below Wall Street's expectations. It warned that the Iran War would drive up jet fuel costs by more than $2 billion in the quarter ending June. Ed Bastian, CEO of the Atlanta-based carrier, said that it was "imprudent" to give an updated outlook for the full year due to uncertainty about how long fuel prices would remain high. Extreme swings in jet-fuel prices have forced airlines to rethink their growth plans. According to the trade group Airlines for America,...

This week, Lufthansa will be facing a one-day walkout. It's the third strike in just two months. The UFO cabin crew union has asked staff from the core Lufthansa and its feeder airline, Cityline, to strike for one day on Friday. The strike is expected to affect all Lufthansa flights departing from Frankfurt and Munich from 12:01 am to 10 pm local time (2201 GMT on Thursday to 2200 GMT on Friday), according to the Independent Flight Attendants' Organisation. The Cityline cabin staff at nine German airports will also walk out in the same time period. The vast majority of...

The global air travel industry is still severely affected. Many people are unable to fly to their destinations as planned after the Iran War forced the closures of major Middle Eastern hubs including Dubai, Doha, and Abu Dhabi. The latest flight information is listed below alphabetically: AEGEAN AIRLINES The largest airline in Greece has cancelled flights from Tel Aviv to Beirut and Tel Aviv to Amman. Flights to Riyadh were also cancelled until June 27. The airline has cancelled flights to Erbil, Baghdad and Dubai until June 29. AIRBALTIC AirBaltic, a Latvian airline, says that flights to Tel Aviv are...

The lira and airline stocks led the rise of more than 4% in 'Turkish shares on Wednesday, while the two-week Middle East ceasefire ignited a rally on global markets. The BIST 100 index of Turkey was up 5% at 1057 GMT. Meanwhile, the banking index was up by 9%. BIST 100 index fell 1.45% on Tuesday. Turkish Airlines shares rose 8%, while airline Pegasus's shares grew 7%. Following overnight drops in oil prices, shares in Turkish petrochemical firms Tupras & Petkim fell by 5% and 6% respectively. In a post posted on X, Pakistani Prime Minister Shehbaz sharif announced that...