Air France-KLM reported Thursday a higher profit than expected for the second quarter, citing increased revenue from premium and long-haul?travel. The Franco-Dutch Group posted an adjusted operating profit for the second quarter of EUR484million ($552.5million), down from EUR736million in the same period the previous year, but higher than EUR327million projected by analysts polled on average by the company. Benjamin Smith, the CEO of the group, said that the company had delivered "strong commercial performance" on the back a constant demand for premium travel. This was particularly true on the Asian and North American market. The airline group is using its...

The President Donald Trump announced a $22 billion plan to rebuild Washington Dulles Airport by replacing concourses, adding a large parking garage and preserving the iconic main terminal. This announcement is just the latest of a number of major projects that he has announced around and in the U.S. Capital. Trump stated that Dulles Airport in Washington was "one of the worst airports in the world. We're going make it the best by doing some hard work." He also said it was "time for a major, long-overdue renovation and rebuilding of Washington's horribly thought of Dulles." Trump, joined at the...

Airbus announced on Wednesday that it had 'paid just over PS6.4m?to UK Revenue & Customs Authorities to settle a two-year old investigation into export control violation. The European planemaker has announced that it will be investigating several of its British subsidiaries in 2024. Airbus stated in its notes to the quarterly earnings released on Wednesday that the settlement reached earlier this month "closes" and "fully resolves" the issue. The probe, according to people familiar with it, 'focused on anomalies that were discovered during an audit of the A400M airlifter in 2022. Airbus refused to comment on the details of the...

Airbus maintained financial ?and industrial forecasts as it unveiled stronger-than-expected second-quarter ?revenues and core profits on Wednesday, lifted by higher jetliner ?deliveries and gains in defence. The 'world's biggest planemaker'reported its?quarterly operating profit increased 54% to 2,43 billion euros while revenues grew 28% to 20,53 billion euros. This was due to a surge in deliveries of commercial aircraft following a slow year-start. Analysts expected the profit figure, which was widely watched, to be 2.19 billion Euros on revenues of?20.25 billion. The quarterly update was released just days after Airbus expressed greater confidence in the ability to?increase production? as a battered...

Delta Air Lines announced on Wednesday that it would offer a sports prediction game in partnership with DraftKings. However, the company will not allow gambling on its flights. The airline stated that the game is open to all passengers over 21 years old and allows players to win Delta gift certificates. However, it does not allow betting, deposit functionality or financial risk. Last year, the?U.S. Senator Richard Blumenthal asked the companies to not allow gambling aboard, citing a 1962 law which prohibits gambling on commercial planes. In order to entertain passengers, airlines are now offering more content in the air....

These are some of the most popular stories in selected Canadian newspapers. The?top stories from selected?Canadian newspapers are listed below. The GLOBE and MAIL – Zijin Gold & Allied Gold abandoned a C$5.5 billion (3.90 billion) buyout? of the Canadian miner. Instead, the?Chinese firm took a 9.2% stake? for around $295 million. Dominic LeBlanc, Canada-U.S. trade minister is back in Washington this Week as Ottawa seeks to avoid the imposition on punishing new tariffs for August 19, and advance broader trade negotiations. Apotex Health is the sole manufacturer of generic Ozempic in Canada for the next few months after a...

Frontier Airlines, a low-cost carrier, forecasted third-quarter earnings that were above Wall Street expectations on Wednesday. The airline attributed this to higher airfares as well as strong demand following the exit of its competitor Spirit. In premarket trading, the company's shares were up 2.4%. The uncertainty surrounding the Middle East war has made it difficult for airlines forecasting earnings and jet fuel prices, which make up roughly one-fourth of their operating costs. Frontier Airlines' exit from its closest rival Spirit Airlines allowed it to increase fares faster and limit the impact a ballooning fuel cost had on its margins. U.S....

US-Bangla Airlines plans to acquire 21 Boeing aircraft for $1.5 billion in order to expand its international network. The 'order,' announced at the "Beyond with Boeing", event in Dhaka includes 15 Boeing 737-8s and six Boeing 737-8s with deliveries planned by the end 2027. Bangladesh's air travel industry generates an estimated $5.8billion annually. However, foreign airlines transport the majority of passengers, leading to a significant loss of foreign currency. Bangladesh, in an effort to address the problem and boost trade with the United States, agreed to purchase 14 'Boeing' aircraft valued at $3.7 billion. US-Bangla Airlines stated that the deal...

Early earnings reports show that travel companies, including hotel chains and cruise operators, relied on the resilient U.S. leisure and business demand. They also benefited from a temporary boost from World Cup to offset the effects of the Middle East war. Fuel costs have increased and international travel has been disrupted by the?conflict. However, earnings reports released on Tuesday indicate that many consumers are not deterred by economic uncertainty or higher travel costs. The founder of GetCruiseInfo.com, Brian Rooney, said that "JetBlue Hilton and Royal Caribbean have all shown continued strength with higher-valued products. This suggests that travelers still prioritize...

Aena, the Spanish airport operator, raised its forecast for 2026 passenger traffic growth to 3% on 'Wednesday. This was due to higher first-half profits and a surge in tourist arrivals as Middle East unrest diverted travelers to destinations along the southern Mediterranean. Aena predicted a 1.3% annual passenger traffic increase for 2026, up from 3.9% in 2017. Aena released a statement that said, "Since the beginning of (Strait of Hormuz), we have observed an increase in travel demand to Spain. It is perceived as being a safe destination for tourists." In the first six months of this year, the company's...

Portugal will?receive binding offers on Wednesday from 'Air - France-KLM and Lufthansa to acquire a minority stake of TAP. This is the beginning of the final battle over one Europe's last remaining independent flag carriers. Lisbon has relaunched the long-delayed TAP privatisation, with a view to selling a 44.9% share to a strategic partner that can boost TAP's global reach and competitiveness. TAP should be part of an airline group. The government says that EU rules on state aid prevent the company from receiving further public funding, leaving it vulnerable to global shocks in future. Air France-KLM and Lufthansa were...

As cross-border ecommerce loses steam, the global race to develop artificial intelligence is changing Asia's air freight map. Airlines are redesigning their networks to focus on growing semiconductor manufacturing centers. Airlines and logistics companies claim that unlike the parcel boom following the pandemic, the 'demand for AI infrastructure' is backed by multi-year orders of advanced memory chips and processing units and hundreds of millions of dollars in?planned? investment into data centres. Moreover, the tighter import regulations in the U.S.A. and Europe that have been affecting the recent growth of the e-commerce industry are dampening it. When Xeneta's freight analytics company...