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Azov fighters from Ukraine were expelled from Mariupol. Now, they are retaliating
The rebuilt Azov Regiment is determined to make Moscow pay for its occupation four years after it surrendered Mariupol's last corner to the?Russians. Azov's bitter defeat of May 2022, when hundreds of its fighters died or were captured, turned it into a symbol for endurance in Ukraine. It paved the road to its return in a stronger and bigger force. It is now focusing once more on its hometown?on Azov sea. According to the Kyiv military, drones from the First Corps Azov flew across the sky above the city's strategic port last week. The operation targeted electrical substations and repair facilities, as well as a sanctioned vessel, and plunged the entire port into darkness. I was able confirm the location of certain parts of a video posted by the Corps. The attack was part a larger strike campaign by Ukraine against Russian military infrastructure deep behind the front lines, in an attempt to crush Moscow's war machines and turn the war in Kyiv’s favor. Col. Arsen Dytryk, First Corps Azov chief of staff, said there would be many more operations like this to show off the unit's technology, planning and capabilities. He admitted that it would be a long game to drive Russia out of Mariupol. The city is 120 km behind the front lines, which are barely moving. "If it takes twenty years, we'll spend that time planning, waiting and preparing," said Dmytryk (32), who was one of those captured by Russia, then freed later. "But we have to be prepared when the time comes. I think we will return (Mariupol). It's only a matter of time. The Russian defence ministry didn't immediately respond to an inquiry for comment. "MORE IS COMING" The port attack, conducted by Ukraine's SBU security services and drone forces, was just a few mile from the destroyed steel mill, where Azov fighters, and other troops, surrendered following Moscow's three month siege of the city. This was after months of strikes in Russian-occupied areas of eastern Donetsk, including Mariupol. The aim was to disrupt Russian supply routes to the front. The Corps posted footage of its operations on April 16, including drones flying over fields and highways in Donetsk before crashing into army vehicles. A second post from May 8 shows drone footage of central Mariupol and heavily damaged Azovstal Iron and Steel Works. This is the site where the Ukrainian garrison will make its last stand in 2022. "Azov has already begun patrolling Mariupol, its hometown. "From the skies -- at least for now," said it. A recent investigation found that Russia is trying to consolidate its grip in the occupied south of Ukraine by constructing new infrastructure in the city, which had a population of more than 400,000 prior to?the conflict. Kyiv’s foreign intelligence service reported in January that Russia is expanding Mariupol’s seaport to become a key hub for its economy while pursuing showcasing construction projects within the city, at the expense of ordinary residents. The authorities of the region in Russian-occupied Donetsk didn't immediately answer questions about this article. CUTTING CRITERAL SUPPLIES Azov is the main target of Ukraine's "middle-strike" campaign. Its goal is to choke off enemy cargo, especially fuel, heading from Russia via key nodes such as Mariupol and Donetsk City, according to a drone officer. He said that the constant movement of trucks on vast open roads made them hard to defend. "There is no way to conceal a fuel tanker." It's impossible. He said that the routes being attacked include the M14 connecting Mariupol and the Russian city Rostov in the east; the H20 running north from Mariupol towards Donetsk; and a ring-road around Donetsk. Ukraine's military has also intensified its strikes against the logistics along the "landbridge" that connects Russia and Crimea in southern Ukraine, an area occupied by Russia. These attacks have caused fuel shortages across the peninsula. Robert Brovdi, Ukraine's top commander of drones, spoke to the media last week and pledged to "isolate Crimea within the near future" by mounting strikes on P-280. Azov strikes are "cumulative, rather than decisive", Franz-Stefan Gady said, a Vienna-based expert at the Center for a New American Security. They force Russia's military to disperse their vehicles by longer detours, and to resort to night driving. He added that this "degrades" the offensive pace Russia can generate on the battlefield over time. Russian forces are close to capturing Kostiantynivka - the southern anchor in the "fortress belt" of the Donetsk Region, which Moscow demanded Kyiv surrender. Russian drone teams also continue to hammer Ukrainian battlefield logistics. In recent months, however, the overall speed of Russian advance has slowed down to a crawl. Ukrainian forces have gained ground in some areas of the front. Rob Lee, senior fellow at U.S. based Foreign Policy Research Institute said Kyiv’s mid-range strikes could "test the condition" for Ukraine and possibly Azov to go on the offensive. This is one of the biggest stories of this past year: How does Russia handle Ukraine's Middle Strike Campaign? He said. Future Operations Azov uses the AI-assisted Hornet, a drone developed by Perennial Autonomy in the United States. Former Google CEO Eric Schmidt founded this firm. Lee said that Corps operators had modified the device by installing Starlink Internet Terminals to extend its original range of 100 km. This innovation demonstrated the technical expertise of this unit. He said that Azov had been responsible for many of the improvements made to the Hornet. Dmytryk, chief of staff of the?corps, explained that by raining drones down on the roads to and from Mariupol the?corps was working towards a major objective: speeding up the end of the fighting, which he hopes will see over 700 of his fighters released from Russian prisons. Kyiv makes a prisoner exchange that is all for everyone a key part of any deal. In Kyiv, and in other major cities there are frequent "Free Azov", or "Free Azov," rallies. This reflects the unit's heroism in Ukrainian society. Denys Prokopenko, the corps commander, said last month on X that releasing his comrades in arms was "my priority and a question of honour". Azov is vilified in Russia for its origins as a nationalist group. Today's Azov, however, is a far cry away from the scrappy, volunteer battalion which liberated Mariupol in 2014 from pro-Russian rebels, or from the fragmented regiment in 2022. Formerly under the National Guard it is now viewed as a premier combat force, and one of Ukraine’s "most advanced" formations in drone warfare, according to defence analyst Olena Khryzhanivska, of the Canadian Global Affairs Institute. The unit claims that it has grown to include tens thousands of soldiers. "When we were captured, the Muscovites said that they wanted us to be destroyed, destroyed, and then again, destroyed," said Dmytryk whose callsign is "Lemko". "But their 'destruction,' somehow keeps scaling up Azov." (Editing by Daniel Flynn and Mike Collett White)
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Bousso: The quest of ROI-Gulf Exporters to bypass Hormuz is reshaping the region.
Middle East oil producers will have to face the consequences. The Iran War exposed the dangers in relying solely on one chokepoint to export vital oil and gas. Gulf governments were left with a clear strategy imperative: diversify at all costs. A blockade by Iran of the Strait of Hormuz was long viewed as an "event of doomsday". It would never occur. Experts believed it would take a massive effort from the military and that Tehran wouldn't be willing to stop its exports. These assumptions were 'proven painfully incorrect. Iran used cheap drones and small vessels to impose a nearly airtight blockade, but continued to export its oil. The result was a global energy crisis that affected the entire region. The countries lost export revenue and had to close down 11 million barrels of oil per day (bpd), along with refineries and LNG installations. Washington and Tehran agreed to negotiate an agreement for a permanent ceasefire, but the "Hormuz Genie" can't be put back in the bottle. Future closures now pose a persistent and real risk to the region's economy and its people. As a consequence, the Gulf countries have become more dependent on alternative routes to export energy, chemicals, and fertilisers. Pipeline Dreams Saudi Arabia is the best example of how building pipelines to circumvent Hormuz can be beneficial. Before the war, Saudi Aramco, the state-owned oil company, diverted?60% (or?60 million barrels) of its oil shipments from the Gulf Coast to Yanbu on the Red Sea. In the 1980s, Saudi Aramco, the state-owned oil company, built the 1,200-kilometre (745 mile) route to protect against such a scenario. The strategic foresight has paid off. In April, the International Monetary Fund (IMF) said that it expected Saudi Arabia's economic growth to be 3.1% by 2026. This is just 1.4 percentage point less than its pre-war prediction. Qatar, on the other hand, has no alternative routes to export its oil and LNG, so its economy could contract by 8.6% this year after growing by 2.8% last year, according to IMF. Other regional players are taking note. United Arab Emirates were able to bypass Hormuz in part by using their pipeline to the Fujairah oil terminal located outside the Strait. Fujairah's oil terminal was damaged by Iranian airstrikes, but the UAE still managed to export 1.8 million barrels per day, or roughly half its pre-war production. Abu Dhabi, who left OPEC last May to pursue a growth strategy that is ambitious, has now accelerated construction of a new pipeline, which will double export capacity through Fujairah before 2027. Iraq is still in a very unenviable situation. The majority of the country's production is concentrated in southern Iraq, which makes it heavily dependent on Hormuz. Companies and authorities in Iraq are therefore looking at ways to improve and expand the northern export routes via Turkey and Syria. Security and political concerns are still major obstacles. THE QATARI CONUNDRUM Qatar and Kuwait are faced with a much more complex problem. Both countries, lacking alternative export routes on their own territory, will be forced to rely upon?neighbors to circumvent Hormuz. Qatar is the world's largest LNG exporter. For Qatar to gain access to beyond the Strait of Gibraltar, it would have to build a pipeline across the Red Sea or through Saudi Arabia, either via Fujairah, Oman or the UAE. Each option has its own geopolitical and economic complications. These projects would require the construction of new liquefaction capacity outside the Gulf region, which would drive costs up. This would leave Qatar heavily reliant on Saudi Arabia and the UAE, countries whose relationship with Doha has been strained in recent times. This poses political and strategic risks, which Qatar has sought to avoid for years. Kuwait faces a similar dilemma. To develop alternative export routes, it would be necessary to deepen energy integration with Saudi Arabia. This highlights how geography could reshape future regional alliances. DIVERSIFICATION OVERSEAS Diversification of the Middle East is not the only response that has gained traction. Gulf national oil companies have been expanding overseas operations to create a hedge for future disruptions in the region. QatarEnergy (formerly Abu Dhabi National Oil Company) and QatarEnergy have been at the forefront of building international portfolios that include oil, gas, and renewables. This trend will likely accelerate. Acquiring stakes overseas in upstream assets such as refineries, LNG installations and storage terminals would generate valuable income streams, which are not exposed to Gulf risks. Such investments are a great way to ensure that you can continue to grow and be resilient in a world without the certainty of Hormuz. The race to diversify will shake up government strategies, reshuffle alliances and redirect investments as Middle East producers start the recovery process. It could, in other words reshape this region for many decades. You like this column? Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could have a significant impact on markets in France and Benelux or individual stocks. AIR FRANCE KLM: The Franco Dutch airline group has signed a multi-purpose credit facility worth EUR1 billion with 12 international banks. Its aim is to refinance existing financial instruments, including M&A, starting in H2 2026. AUTOS: The number of battery electric vehicles registered in Europe in May reached a new record, continuing a strong growth, as policy support, subsidies and higher petrol prices boosted demand. DERICHEBOURG SA : French waste management company Derichebourg Environnement has won a total of four waste collection contracts worth EUR74.85 million (USD 85.8 millions) over a multi-year period. FIGEAC AERO : French aerospace parts maker Figeac Aero has won a contract with Dassault Aviation for the production of?parts and canards for Rafale aircraft. Deliveries are expected to start in 2026, reaching cruising speed by 2027. GTT: A French group has received an order for the design of three?LNG tanks for land-based storage, scheduled to be delivered in Q4 2028. IRAN: On Wednesday, the U.S. president Donald Trump threatened to re-attack and kill Iranian officials who failed to honour their commitments. RENAULT GROUP - The French automaker acquired the full ownership of Flexis, an electric van company by purchasing Volvo Group and CMA CGM Group stakes. VINCI: French infrastructure company Vinci reported that autoroutes traffic was down 1.8% despite a 0.3% year-on year increase in May 2026. Airport passenger traffic, however, rose by 0.6% compared to the same period last year with a 0.1% year-on year gain in?May 2026. Pan-European market data: European Equities speed guide................... FTSE Eurotop 300 index.............................. DJ ?STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European pct ?gainers....................... Top 25 European pct losers........................ Stock markets: Dow Jones ............... Wall Street Report ..... Nikkei ?225............. Tokyo report............ London report ........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... Survey of global bourse outlook ......... European Asset Allocation........................ News in a glance Top News ............. Equities.............. Main Oil Report ........... Main currency report .....
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Thailand revives $30 billion coast-to-coast highway to rival Malacca Strait
Chaiyaporn?Arunrasamee, hunched with his nets over the Andaman Sea, is a Thai government official proposing a "Land Bridge", which will ferry goods from ports on either side of the peninsula. Chaiyaporn stated that he did not want the project to be implemented. The Thai Prime Minister Anutin Charnvirakul revived the project after the war with Iran and the closing of the Hormuz Strait revealed the countries' dependence on strategic maritime chokepoints. Plans envisage a '1 trillion baht logistics corridor ($30.45billion) to provide an alternative route through the Strait of Malacca, which is currently clogged with traffic. The corridor will connect two new deep sea ports, Chumphon on the Gulf of Thailand in the east, and Ranong along the western Andaman Coast, where Chaiyaporn has been fishing for 50 years. He said, "This will be in the area that we live in," last month on the island of Baan Hat Sai Dam. "Where will you go?" We crisscrossed land and communities along the proposed Land Bridge route and interviewed over 15 residents, local officials and experts, as well as planning leaders, and other people involved in or affected by the project. The interviews and documents that we reviewed reveal previously unknown details about a project which promised savings and quick shipments but was hampered due to complicated logistics, opposition from locals and an enormous cost. Analysts claim that the project appears to be economically ambitious, and it is unlikely to compete against Malacca in terms of a global transport route. However, it could be viable as a "smaller-scale strategic pathway for Thailand." The Malacca Strait, which is 900 km (550 miles) long, connects East Asia with the Middle East, Europe, and Thailand. Eugene Mark, ISEAS-Yusof Ishak Institute in Singapore, said that the land bridge could eventually...emerge into a modular asset for national security aimed at securing Thailand's local energy routes as well as boosting its own western export capability. Alternatives to Malacca A presentation by the government, seen by, says that the proposed corridor would reduce logistics costs of nearly 30% and transit times up to 14 days between ports on the Indian Ocean in South Asia and the Middle East. The presentation states that the standard gauge railway will span 90 km (56 mi) between two deep-sea port, and be able to handle up to 20 millions Twenty-foot Equivalent Units (TEUs) per year. One TEU is the volume of one standard 20-foot shipping box. A second meter-gauge line will connect the cargo flow to the national railway network. The corridor will also be supported by local roads and multi-lane highways, which are all integrated into Thailand's wider transport network. Thai estimates claim that 80% of the container traffic at regional ports in the Malacca Strait region, including Singapore, is trans-shipment cargo. This is goods waiting to be transferred from one vessel to another, rather than goods for local markets. Jiraroth Sukkorrat, Director General of Thailand's Office of Transport and Traffic Policy and Planning said, "We would like to capture some of the 80% market in particular, especially feeder segment." He was referring to cargo ships that have a capacity of 12,000 TEU or less. According to an internal government presentation, overall, feeder-tofeeder cargo movement from the Gulf of Thailand into the Andaman sea - or vice-versa - can be 10% cheaper and six-days faster than similar routes through Singapore. This is mainly due to lower congestion. Jiraroth stated that "we are not targeting the giant mainline ships." DIPLOMATIC BALANCING ACT The findings of a panel appointed by the Thai government, which is currently reviewing projects and previous impact assessments reports, are due before the end July. The Land Bridge Plan, which was first proposed around 2020, is the successor to a number of infrastructure schemes pursued over 20 years by Thai governments, but failed to materialise because of shifting policies and a lack of investment support. The current version of the plan does not include petrochemical plants and oil refineries. Instead, it focuses on ports, railways, and light industries. The concept hasn't changed. Wipawadee panyangnoi is an independent researcher and doctoral candidate who has written her dissertation on the Land Bridge concept. In the past, they talked openly about industrial estates and petroleum chemicals. People were against them. The project is now framed in terms of transport infrastructure and logistic because the public is more accepting. Mark, of the ISEAS Yusof Ishak Institute, says that it is a difficult task to convince cargo liners of the financial and time cost of unloading goods, transporting them overland and reloading onto another vessel. "Proving this model of double-handling can compete with the seamless transit of the Strait of?Malacca is a major obstacle," he said. Jiraroth said that authorities had learned from past failures and will now play a supportive and regulatory role. The state's primary funding source is private investors. He said that the consortium must include shipping lines, port operators and financiers, as well as land developers. Mark stated that investor interest is currently cautious and non-committal, due to the shifting policy frameworks as well as the enormous capital requirements. He said that the project is also in a geopolitical bind, as neighbours watch with caution and suspicion. Mark said that "Chinese state-owned enterprises are unlikely commit significant capital until they have strong operational leverage. This would lead to intense political resistance in Thailand?over foreign control." "Thailand needs to perform a delicate diplomatic balance act in order to avoid the corridor becoming a geopolitical hotspot." Singapore's foreign ministry has not responded to comments immediately. EXPANDING RESISTENCY Chaiyaporn was one of a dozen residents who told the?news that they were against the plan. The 90-kilometer (56-miles) corridor would disrupt fishing and farming communities along this area. Some residents in the Phato district in the middle of a 'proposed landbridge corridor,' where durian and coffee plantations bring in substantial incomes, question the need for such industrialisation. Chalermchart Sekhiao (30), a coffee entrepreneur, said that the durian industry in his hometown generates 10 billion baht per year. People need to realize that this is not a barren wasteland. This month, the project was dealt a major blow when the regulators ordered an entirely new Environmental and Health Impact Assessment due to a huge discrepancy in the estimates of government and private researchers on the density and diversity of marine life around the proposed ports. Mark explained that "Local resistance alone rarely cancels top-down megaprojects in Thailand but it acts as an effective regulatory drag which compounds investor risks."
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Zelenskiy talks to Trump and Europe about a peace agreement as Russia launches missiles at Kyiv
Local authorities said that Russia had attacked Kyiv on Thursday with'missiles'. They urged residents to seek shelter after President Volodymyrzelenskiy met with Donald Trump, the U.S. president, and European leaders. Witnesses heard explosions in Kyiv. Authorities in the northeastern Ukrainian town of Sumy reported that one person had been killed in a drone strike. Air strike alerts were also issued for much of Ukraine. The enemy has launched ballistic missiles at the capital. "Stay in a safe place until the air-raid alert has ended!" Tymur Tkachenko said this in a Telegram message posted early Thursday morning. Zelenskiy told reporters that he spoke to Macron and Trump in France after meeting with other leaders at a Group of Seven gathering. He called it a "coordinating discussion" to try and?end the over four-year-long war between Russia and Ukraine. This is the second air strike by Russia in a week. The Russian attack on a 1,000-year old monastery, which represents Ukraine's cultural and spiritual heritage, resulted in the destruction of this symbol. Trump claimed on Wednesday that Russia is losing more soldiers than Ukraine. He said this after suggesting that Zelenskiy and Vladimir Putin, the Russian president, seemed willing to do something about the conflict. The Kremlin announced this week that Putin did not discuss the possibility of meeting Zelenskiy during his last phone call with Trump. Russia has been saying that Ukraine was the one who lost. Maksim Pukhov, the mayor of Enerhodar in Ukraine, where the majority of staff at the Zaporizhzhia nuclear plant owned by Russia?lives, said on Telegram, that Ukrainian strikes had killed one person and injured four. Local officials in Russia's border region of Belgorod claim that a Ukrainian drone struck killed a man driving his car. On Wednesday, Moscow accused Ukraine of?attacking? a bus with Belarusian children, a charge that Kyiv called "false". The reports could not be independently verified. Both Russia and Ukraine have denied that they deliberately targeted civilians during the war which began with Russia's full scale invasion of Ukraine in 2020. (Reporting and editing by Nia William and Neil Fullick; Reporting by Jekaterina Glubkova, Ron Popeski)
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Zelenskiy talks to Trump and Europe about a peace agreement as Russia launches missiles at Kyiv
Local authorities said that Russia had launched missiles at Kyiv on Thursday. They urged the residents to seek shelter after President Volodymyr Zelenskiy met with Donald Trump, U.S. president, and European leaders. Witnesses heard explosions near Kyiv. Authorities in the northeastern Ukrainian town of Sumy reported that one person had been killed by a drone. Air strike alerts were issued across most of Ukraine. The enemy has launched ballistic missiles at the capital. "Stay in safe places until the air-raid alert is over!" Tymur Tkachenko said this in an early Thursday Telegram post. Zelenskiy claimed that he spoke to Macron and Trump in France after meeting with other leaders at a Group of Seven gathering. He called it a "coordinating discussion" to try and end the?more than four-year Russian war on Ukraine. This is the second air strike by Russia in a week. The Russian attack on Monday severely damaged a 1,000-year old monastery, which symbolizes Ukraine's cultural and spiritual heritage. It killed ten people and was condemned by European leaders. Trump claimed on Wednesday that Russia is losing more soldiers than Ukraine. He said this after suggesting that Zelenskiy and Vladimir Putin, the Russian president, seemed willing to do something about the conflict. The Kremlin announced this week that Putin did not discuss the possibility of meeting Zelenskiy during his last phone call with Trump. Russia has been saying that Ukraine was the one who lost. Maksim Pukhov, the mayor of Enerhodar in Ukraine, said that Ukrainian strikes had killed and injured one person. Local officials in Russia's border region of Belgorod claim that a Ukrainian drone struck killed a man driving his car. On Wednesday, Moscow accused Ukraine of?attacking? a bus with Belarusian children, an accusation that Kyiv called "false". The reports could not be independently verified. Both Russia and Ukraine have denied that they deliberately targeted civilians during the war which began with Russia's full scale invasion of Ukraine in 2020. (Reporting and editing by Nia William and Neil Fullick; Reporting by Jekaterina Glubkova, Ron Popeski)
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KKR invests $1.4 billion in aircraft leasing and targets airlines, Boeing, and Airbus
Private equity firm KKR announced a new $1.4 billion bet on aircraft lease with a partner Altavair on Wednesday, as Airbus and Boeing continue to struggle with a lack of planes. Private equity firms and leasing companies are playing a greater role in financing aircraft purchases. This is because airlines are facing rising costs, recovering travel demand and limited aircraft supply. About half of the world's fleet is now leased, or rented. KKR has invested more than 12 billion dollars in aviation since 2015. Altavair is a company that focuses on the acquisition of new and used aircraft, and then leasing them to passenger and cargo carriers worldwide. A person familiar with the transaction stated that the majority of capital was still available to be allocated. This will take place over the next 4 years. KKR intends to purchase aircraft directly from airlines that are looking to release cash as well as from manufacturers like Airbus and Boeing, and via secondary market transactions. The deals involve leasing aircraft to airlines under long-term contracts. This allows them to continue operating their fleets while raising cash. The company is focused on long-term leasing with established airlines and freight operators, rather than distressed or bankruptcy cases, such as Spirit Airlines which ceased operation in May after failing?to secure support for a government bailout program, according to the source. Since 2018, KKR and Altavair have acquired 188 aircrafts and engines and leased them out to 67 airlines and cargo customers around the world. The person stated that fuel price volatility and geopolitical tensions had a limited impact on these investments in the near term, as leases are typically for 5-10 years, with predictable cash flow. KKR backed previous fleet transactions, including a 2020 deal that saw the company lease Boeing 777s and Airbus A330s back to Etihad Airways as part of its strategy for fleet transition. (Reporting and editing by Stephen Coates; Sabrina Valle)
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Congress will hold an hearing on US airline regulation and competition
The House of Representatives will hold an hearing on June 24 to discuss 'the state of U.S. airlines competition and regulation following the collapse of low-cost carrier Spirit Airlines last month. The?subcommittee of the House Judiciary that oversees antitrust matters will hold an hearing entitled "The 30,000-Foot View: Competition and Regulation in America." Airline Industry." The CEO of Airlines for America, Chris Sununu, is expected to give testimony at the hearing. Republicans will likely use the hearing as an opportunity to claim that the Biden administration failed to protect jobs through its airline competition policies, while Democrats are going to seize the Trump administration's efforts to rollback?aviation consumer-protection measures and to void airline penalties for misconduct issued by Biden. Spirit Airlines collapsed on?May, after President Donald Trump proposed $500 million in order to save Spirit Airlines despite the opposition of some of his closest advisors and many Republicans in Congress. Despite the intense efforts of the Trump?administration, creditors rejected the deal. About 15,000 Spirit employees and contractors lost their jobs as a result of the collapse. Biden officials have rejected this claim. The Trump administration believes that the former administration of Joe Biden blocked a merger between JetBlue Airways in 2024 and Spirit. Spirit had twice filed for bankruptcy in a single year, and it had not turned a profit since the beginning of 2019. USDOT announced this week that it had 'closed its investigation into the July 2024 Delta Air Lines meltdown, which disrupted the travel plans of over 1.3 million passengers. Last year, USDOT waived a $11 million fine against Southwest Airlines for a December 2022 meltdown, during a busy travel season. In May, the Federal Aviation Administration closed its investigation of airlines that failed to comply with required flight reductions at?40 airports major during the '2025 shutdown government without seeking any fines. USDOT retracted a proposal under Biden in November that would have required airlines to compensate passengers with cash when they are responsible for U.S. flights being disrupted.
CVC, DSV submit final quotes around $15.6 bln for Deutsche Bahn's Schenker, sources state
Deutsche Bahn's logistics system Schenker has gathered last bids from a consortium led by CVC Capital Partners and Danish transport firm DSV that worth business at around 14 billion euros ($ 15.57 billion), 2 individuals knowledgeable about the matter informed Reuters.
The CVC consortium likewise submitted an option that might see the German federal government reinvest with a minority stake, taking its offer up to 16 billion euros, individuals stated, speaking on condition of privacy.
CVC's long term strategy is to list business on the Frankfurt Stock market, among the people said.
Deutsche Bahn is evaluating final offers and will require to discuss them with the federal government, with a final decision anticipated in the coming weeks, the people stated.
Deutsche Bahn was not instantly available for comment. CVC and DSV declined to comment.
(source: Reuters)