Festus Keyamo, the Aviation Minister, said that Bola Tinubu, Nigeria's President, approved a?30% relief on a?debt owed by local?airlines to aviation agencies. He also ordered talks between fuel marketers, airlines and regulators in order to arrive at a fair price for jet fuel within 72 hours. After jet fuel prices rose by nearly 300%, domestic airlines have warned that they cannot continue to operate without increasing ticket prices. The minister has described the meeting as a "fair and reasonable price" for jet fuel. Any agreement reached will be made public. * The'soaring 'jet fuel prices are upending the global aviation...

U.S. stock prices fell on Thursday in choppy trade as investors resurfaced concerns about AI-driven disruptions across the software industry. After Iran tightened its control over the "Strait of Hormuz", stocks remained near unchanged. Tehran released video footage showing its commandos storming the cargo ship it claimed to have captured, and demanded that the U.S. end its naval blockade of Iranian ports. Stocks fell after news that Iran's parliament speaker Mohammad Bagher Ghalibaf resigned from a negotiating team. Oil prices soared after reports of air strikes in Iran, causing losses to be extended. Iran's Fars News Agency said that the...

Portugal has asked Air France-KLM and Germany's Lufthansa if they would submit binding bids for a minority stake of the national flag carrier TAP. This follows closely matched initial offers from European airline groups. In July, the Portuguese government revived TAP’s long-delayed Privatisation, with a view to selling a 44.9% share to a strategic partner in order to improve its global network. A further 5% was reserved for TAP employees. Lisbon will send formal invitations to two airlines that were the first to make offers by the end April. They must submit binding bids before the end July. The process...

Robert Isom, American Airlines' Chief Executive, rejected the merger with United Airlines on Thursday as being anti-competitive. He also pledged to defend American Airlines' Chicago hub. He spoke in the midst of renewed speculation about industry consolidation after United CEO Scott Kirby brought up the possibility earlier this year that a tie-up between American and the Trump administration, as well as the fact that U.S. Airlines face tighter restrictions at congested hubs. Isom, speaking on the company's earnings call for the first quarter of this year, said that federal action would ease congestion at Chicago O'Hare Airport and allow American...

Spirit Airlines' lawyer confirmed that the bankrupt airline is in advanced talks with the federal government about the terms of a significant financing package to assist the airline's restructuring. Marshall Huebner said that Spirit's outside lawyer, Marshall Huebner told a bankruptcy court in New York, the details of the financing package proposed by the Trump Administration had been?shared with its main creditor groups. The federal government's financing would do much more than just make the reorganization a possibility. Huebner stressed that talks are continuing. "I don't think anyone can predict where this is going." Other outlets reported that the Trump...

Three Democratic U.S. Senators have asked a federal watchdog to investigate whether the head of the Federal Aviation Administration broke his ethics agreement by delaying the sale of stock in order to increase 'his 'payout following his departure from Republic Airways as CEO. On Thursday, Senators Maria Cantwell and Tammy Duckworth asked if FAA administrator Bryan Bedford had misled Congress by explaining why he failed to divest fully his significant equity stakes in Republic before October 7, as per?his ethics contract. The senators claimed that "Bedford deliberately held onto his shares until his airline completed a 'lucrative merger which likely...

Three Democratic U.S. Senators asked a federal watchdog to investigate if the head of 'the Federal Aviation Administration' violated his ethics agreement after he left his position as CEO of Republic Airways. On Thursday, Senators Maria Cantwell and Tammy?Duckworth asked if FAA Administrator Bryan Bedford had misled Congress?in his explanation of why he failed to divest?his substantial equity stake in?Republic before?October 7 - the date set in his ethics agreement. Senators claimed that "Beford deliberately held onto his shares until his airline completed a lucrative merger, likely boosting his holdings' value significantly." Bedford completed his divestiture by February. The FAA...

The global air travel industry is still severely affected by the Iran War. Many people are unable to fly to their destinations as planned after major Middle Eastern hubs such as Dubai, Doha and Abu Dhabi were closed. The latest flight information is listed below alphabetically: AEGEAN AIRLINES The largest airline in Greece will resume its flights to Tel Aviv on April 28 from Athens, Heraklion and Rhodes. Thessaloniki-Tel Aviv flights are cancelled until June 26. Riyadh will resume its flights on June 21. The flights to Beirut will be cancelled until June 26. Flights to Dubai until June 29....

Portugal's government asked Air France-KLM and Germany's Lufthansa on Thursday to submit binding offers?for a minor stake in flag carrier TAP. This set up a 'tight competition' between the two European airline groups after the initial, closely matched bids, which were the only ones it received. Portugal revived TAP’s long-delayed Privatisation in July. It aimed to sell a 44.9 percent stake to a strategic partner to improve the carrier’s global network and competetiveness. A further 5% was reserved for employees. By the end April, the government will issue formal invitations to the two airlines. They will then have until the...

U.S. Airlines are experiencing their highest passenger numbers in history, packing more people into their planes to boost revenues. Yet, in a cruel irony, a war thousands miles away is destroying profits due to a crippling fuel cost burden. United Airlines has cut its profit forecast for the full year by about a third. Alaska Air retracted its entire outlook. Delta Air Lines canceled its growth plans for the quarter while Southwest Airlines refused to update their full-year forecast, saying that it "wouldn't be productive at this point." Fuel costs have risen faster in each case than airline fares. This...

Lufthansa has announced plans for "Economy Basic", a new fare in Europe that will add a new option to the'struggle of passengers with size restrictions on carry-on luggage. The German airline group announced on Thursday that those who want to bring more baggage can add carry-on and checked luggage as an?add-on service within this special fare, or select a fare with increased?baggage allowances. The new low-cost fares will be available online from May 19 for all brands, starting with the first flights in April. The new fares will offer a discount on the existing "Economy Light", which will also include...

The 'Iran War' has pushed up jet fuel prices, which have impacted American Airlines' profit margins. Since the start of the conflict, jet fuel prices have almost doubled, leaving airlines unable to adjust their ticket prices and spiraling costs. U.S. and Israeli strikes?on Iran disrupted the Strait of Hormuz traffic, a crucial?corridor? for global oil supply, triggering?the aviation industry's greatest shock?since COVID-19?. The cost increase has affected the profit margins in the U.S. even though the demand is steady. To offset some of the costs, airlines have increased fares, reduced capacity and raised fees for services such as checked bags....