Europe

Transport Minister of Ireland,?Friday, said that the Irish government will enact legislation?by mid July to lift a passenger cap at Dublin Airport. This has been criticized by U.S. Airlines. The government is rushing to lift the 32 million passenger cap per year, which has been suspended in anticipation of a ruling from the European Court. Last year, the airport exceeded its limit by four million passengers. Darragh O'Brien, Ireland's Transport, Energy and Climate Minister, said in an interview that he hoped to have the legislation passed by the Dail, the lower house of parliament, and the Seanad, the upper house,...

Here are some company news and stories that could impact the markets or individual stocks in France and Benelux. COMPAGNIE DES ALPES Compagnie des Alpes, a French ski resort operator and leisure park operator, reported that its EBITDA for the first half of 2013 rose?5.0% from 327.7 millions euros to 380.59 millions euros. QUALITY SA: Quadient, a global automation platform provider, reported a first-quarter revenue of 243 million euros. AIR FRANCE-KLM, Airbus Air France-KLM, Airbus and other airlines announced on 'Thursday that they would appeal to the French Supreme Court after an appeals tribunal found them guilty on Thursday of...

EasyJet, a British budget airline, reported a loss of £552 million ($741.39 millions) in the first half on Thursday. However the outlook for the full year remains uncertain due to the Iran War driving up fuel prices and bookings slipping during the summer peak season. The warning comes at a time when the Iran conflict is continuing to "disrupt" global aviation. Jet fuel prices have risen by more than 80% in the last few months, forcing airlines to raise fares or cut capacity, and even absorb margin pressure, as flow through the Strait of Hormuz has been constrained. In recent...

The 'Iran War' has continued to impact?jet fuel prices and consumer bookings as we head into the crucial summer season. The war has impacted the global aviation industry, forcing airlines to increase fares or reduce capacity, as well as causing jet fuel prices to rise by more than 80%. Easyjet's April-September bookings accounted for 77% of the total at this point in time, a year earlier. Easyjet's bookings for April-September were 77% sold at the same point last year....

Gregor Stuart Hunter gives us a look at what the future holds for European and global markets. Samsung Electronics is still fighting over the issue of pay. The planned strike that was due to begin today has been averted at the 11th hour by a deal reached between the company and its union last night. However, a group of disgruntled investors have threatened to ruin the entire thing. The details of the deal, which includes bonuses of about $416,000 for certain staff, paid mostly in stock, have attracted attention. Investors have largely ignored the drama and are bidding up Samsung...

Middle Eastern carriers increased capacity following the Iran War, and airlines outside the Gulf have rerouted flights between Europe & Asia away from major hubs within the region. The following is a list of the latest flights in alphabetical order. AEGEAN AIRLINES On May 21, Greece's largest airline will resume flights from Heraklion to Tel Aviv. Thessaloniki-Tel Aviv flights are cancelled up until June 26. Flights to Riyadh, Amman and Erbil will resume on May 21. The airline has cancelled flights to Dubai until June 29 and Erbil and Baghdad until July 2. AEROFLOT The Russian flag carrier announced that...

Airbus informed some customers of further delays in delivering the?A350 later this decade. This has raised new concerns about shipments coming from a US-based company. Three industry sources confirmed that Airbus recently acquired a parts factory in the United States. Sources said that the delays are mainly due to ongoing difficulties in securing crucial fuselage parts at the former Spirit AeroSystems facility in Kinston, North Carolina. Airbus also said that the cargo doors for the A350 Freighter, which were built in Spain, are also experiencing some problems. Airbus has said that it never makes comments about delivery dates. A spokesperson...

The UK announced on Wednesday that it would continue to allow the importation of jet fuel and diesel refined from Russian crude into third-country countries. This ban was first announced in October to help the country deal with the supply problems caused by the Iran War. The decision was criticized by lawmakers in Britain and Ukraine, who claimed that the government had backed down on its promises to stop Moscow from profiting off oil production and using it to fund their war against Ukraine. The Prime Minister Keir starmer said that the measures are part of a larger sanctions package...

A 'lobby' group representing Europe's major carriers has said that the continent's airlines have been losing ground to their 'global competitors' and require stronger EU support to combat rising regulatory costs, affordable sustainable 'jet fuel and to better manage crises. The European Union is seeking feedback on its new Aviation and Aeronautics Strategy. Submissions are due by Thursday. Airlines for Europe's (A4E), in its submission to the EU, seen on Wednesday, said that the COVID-19 epidemic, the closure of the?Russian airspace and the Middle East crisis, along with the growing global protectionism, have worsened EU carriers' competitive disadvantage. The group,...

Two Democratic U.S. Senators on Tuesday criticized Transportation Secretary Sean Duffy's road trip, which was filmed for a web series and paid for by donors of the companies that his department regulates. "Your vacation was paid for by Boeing and Toyota, United Airlines, Enterprise, Shell and Royal Caribbean Group", said Kirsten Gillibrand. She is the top Democrat in a Senate Appropriations Subcommittee. She pointed out that USDOT regulates these companies and other donors. Gillibrand told a budget meeting that "this road trip does not smell right." "I don't think that it is right, and you should explain to Americans why...

Airbus Europe has cut back on non-industrial spending by 10% as supply chain issues and global uncertainty continue to affect its core business. They said that the clampdown will only affect activities related to the headquarters and planemaking division, but not production. The clampdown has been in place for several weeks, and is part of the LEAD project launched in 2024 to reduce costs. Sources said that the new "cost-containment" measure aims to reduce the use of outside contractors, which are traditionally a major resource for the largest planemaker in the world. Airbus, based in Toulouse, declined to comment. This...

Smaller European airlines have urged EU officials to reconsider planned reforms of passenger compensation rights on Tuesday, arguing that the spike in jet fuel costs due to war with Iran has left them unable to bear additional financial burdens. EU institutions are currently negotiating the reform of EU261, a decades-old regulation on passenger rights. Air passengers are entitled to compensation for delays of more than three-hours, under the existing rules. The amount is determined by flight length and can range from 250 euros (US$292.95) up to more. Next round of discussions is scheduled for June 2. In a letter sent...

Kommersant reported that the?Russian-installed governor Yevgeny Balitsky said Friday that emergency blackouts were occurring in the 'Russia-controlled region of Ukraine's Zaporizhzhia. According to Kommersant, he did not provide any further details but said that critical infrastructure worked as usual. Vladimir Saldo said in Telegram that nine areas were cut off from the grid following drone attacks. Local authorities reported on Telegram that in the early morning hours of Friday, Russian defence systems worked to repel drone attacks over Moscow and the Yaroslavl Region?in the north. Sergei Sobyanin, the Mayor of Moscow, said in Telegram that four drones heading for Moscow...

A top official of the national suppliers' lobby said that U.S. gas exporters want Europe to defer the implementation of a new law on methane emissions. He warned, however, that the regulatory risk was already preventing long-term contracts between European customers and U.S. companies. Charlie Riedl, Senior Vice President at the Natural Gas Supply Association, said that U.S. Exporters want clarifications about the new methane laws and are asking the European Commission to clarify the law's compliance based on input from the industry. Riedl, speaking on the fringes of the Flame gas and LNG Conference in Amsterdam, initially suggested a...

In recent months, Ukraine has intensified its attacks on Russian energy installations as the peace talks have not produced any progress. Dmitry Peskov, Kremlin spokesperson, said that there are no dangers to the fuel supply in Russia. He was responding to a report on a drop in oil refinery in the central region of the country after recent drone attacks by Ukraine. The following is a chronological summary of the recent attacks that followed Russian strikes against Ukrainian energy facilities and their impact. SYZRAN On Thursday, the Ukrainian military and President Volodymyr Zelenskiy claimed that Ukrainian drones had struck Rosneft's...

Gazprom shares fell on Thursday, despite the announcement that they would not be paying a dividend for '2025' results. They were also impacted by Russia's inability to reach a deal with China on a new pipeline. The shares of Russia's biggest natural gas producer fell almost 1% in early trade at the Moscow stock exchange, continuing the previous day's decline of 3.5%. "Yesterday the Moscow Exchange Index fell?by 1.2 percent, unable withstand a?double disappointment: reports from China regarding the 'lack of clarity about the 'timeframe for implementing the Power of Siberia?2 project and Gazprom refusing to pay dividends in 2025,"...

China and 'Russia' condemned U.S. President Donald Trump’s Golden Dome missile defense shield plans and Washington's 'irresponsible' nuclear policy during a joint meeting on 'Wednesday', a week following President Xi 'Jinping's hosting of Trump in Beijing. In a joint statement, Xi and Russian 'President Vladimir Putin' said that Trump’s plans for a missile interceptor system based on the ground and in space posed a serious threat to strategic stability around the world. The report also criticised the United States for the expiration of the last remaining nuclear treaty that restricted the size of U.S.-Russian arsenals. This expired in February after...

China has increased its purchases of Russian gas and oil since the beginning of the conflict in Ukraine 2022. Moscow and Beijing declared a partnership with "no limitations" just days before war broke out. Energy relations between Russia and China are expected to be a major topic at the meeting of Vladimir Putin with Xi Jinping in Beijing, on Wednesday. Here are some facts about energy ties between the two countries. Gazprom, the Russian energy giant, supplies natural gas to China through a pipeline of 3,000 km (1,865 miles) called Power of Siberia, under a $400 billion, 30-year deal signed...

The Russian President Vladimir Putin is scheduled to visit China this week, and he will 'hold discussions with President Xi Jinping. A Kremlin aide stated on Monday that a detailed discussion of the proposed Power of Siberia 2 gas pipeline would be held. China, 'the world's largest oil and gas consumer, is a major buyer of Russian products. Here are some facts regarding the proposed pipeline: What is the POWER OF SIBERIA II? Power of Siberia 2 is a planned 2,600 km (1,616 miles) system that will transport 50 billion cubic meters (bcm), or 50 billion cubic feet per year...

In recent months, Ukraine has intensified its attacks on Russian energy installations as the peace talks have not produced any progress. Here is a brief summary of some of the recent attacks that followed Russian strikes against Ukrainian energy facilities and their impact. MOSCOW Sergei Sobyanin, the mayor of Moscow, said on Sunday that twelve people had been injured, mainly near the entrance to Moscow’s oil refinery. Three houses also suffered damage. He said that the "technology" at the refinery had not been damaged. Moscow's refinery is located in the Kapotnya district of the capital, in its southeastern part. It...

Sources said that Greek investigators believed a military sea 'drone found on a Greek island last week had gone off course because of a 'technical failure. It may not have traveled far. The explosive-laden drone, which Greece claims is "Ukrainian" but Kyiv denies it officially, was found by fishermen off the coast of Lefkada in May. This sparked diplomatic tensions between Athens & Kyiv. Greek intelligence and military unit have analysed the drone. They dismantled it and used reverse engineering to determine their characteristics. Investigators are also examining the metadata of this drone to determine its mission, and whether or...

Prime Minister Robert Fico announced on Friday that Slovakia is considering the possibility of becoming a direct purchaser of 'Russian oil.' Currently, purchases are handled by MOL in Hungary, which owns Slovnaft Slovnaft refinery. Fico suggested that the state pipeline operator Transpetrol could assume a role as buyer. Fico said in a televised press conference that he thought it was a good idea for the Slovak Republic to become a contracting partner with the Russian Federation. Both Slovakia and Hungary are exempt from the European Union's restrictions on Russian oil imports. The bloc has decided to completely phase out Russian...

Three industry sources say that the Caspian Pipeline Consortium plans to export around 1.45 million barrels per day of CPC Blend crude oil in June, down from 1.8 million barrels per day expected in May, due to planned maintenance at Kazakhstan's giant Kashagan oilfield. Calculations show that June loadings will be 17% lower daily than May. This is a significant drop from the multi-month peak of May. CPC does NOT comment on operational shipment statistics. Sources claim that maintenance on the Kashagan oil field, with a capacity of 0.4 million barrels per day, will begin in early June. It may...

The risk of hantavirus spreading to the general public is very low, according to the U.S. The Centers for Disease Control and prevention has over 100 staff working on this outbreak, a government official said on Wednesday. Please know that we are here to safeguard your health. Dr. 'David Fitter', incident manager of the CDC hantavirus response said that based on the current information the risk to the general public is low. Dr. Brendan Jackson is the CDC's team leader in Nebraska. He said that the CDC was conducting public health assessments in Nebraska where 16 out of 18?passengers? from...