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• Spanish hotel chain Melia completes its exit from Cuba

  Melia, a Spanish hotel group, announced that it had?stopped all operations at its?34 Cuban hotels on Friday due to the?hardening of US sanctions. The island's economic crisis and the escalating sanctions are a major factor. Melia cited operational, financial, and legal difficulties as reasons for leaving the island where it had been a major player since 1990. The hotels were managed by its Portuguese subsidiary, Ilha Bela?Gestao e Turismo. Melia announced last month that it was closing 15 of its hotels. The three major Spanish hotel chains have been involved in the tourism market of the island for decades. The tourism industry, which is a major engine for the Cuban economy, has suffered this year due to a growing economic crisis on the island, as a result of the oil blockade that the U.S. imposed at the start of 2026. International visitor arrivals between January and April fell to 328.608, which is a 56% decrease compared to the same period of 2025. "There's no tourism, no income and no economy." "The impact is enormous," said Teresa Carrillo a Havana resident of 62 years. The pressure from Washington increased this month after the U.S. imposed?sanctions on Cuba's Minister of Tourism. Hotel closures are part of a broader?exodus by international companies including financial and logistic businesses who have reassessed the risk associated with operating in Cuba following Washington's tightened restrictions. Visa and Mastercard have halted a number of?operations. Major airlines like Air France, Turkish Airlines Iberia and World2Fly have also suspended flights. (Reporting by Ayose Naranjo in Havana; Editing by Sonali Paul)

• US arms makers face Europe's push for local control

  Customers were more concerned about American suppliers as U.S. defense companies visited Britain's Farnborough Airshow to tap into?Europe's military expenditure boom. European governments demand greater control over defence equipment, more local production, and a larger?share of the industrial benefits. U.S. arm makers have responded by 'expanding their manufacturing in Europe, forming joint-ventures and offering more tailored product. Daniel Tenney is Lockheed Martin’s senior vice-president of global business strategy and development. He said: "We heard loudly that Europeans want greater sovereignty and more localised capabilities." PLEDGES OF LOCALIZATION U.S. firms argue that it's faster and cheaper to purchase proven American systems rather than develop new ones. They also pledge to localise technology and production. Lockheed announced at Farnborough that a Patriot interceptor with a lower cost would be developed in collaboration with European and U.S. Partners. This announcement comes just a few days after Lockheed announced plans to develop an Army Tactical Missile System with Germany's Rheinmetall. Raytheon, RTX’s Raytheon, announced recently that it has partnered with European companies to increase Stinger production. This includes assembling the missiles in The Netherlands. Thomas Laliberty is the president of Raytheon’s land and aerial defence systems. He said that Europeans gain from widely used systems, like the Patriot. The many countries using the Patriot pool their funding to support such features as a database of threats. He said that the collective benefits them a great deal. Other defence-tech companies are also trying to make a move. Anduril has increased its UK workforce, and is establishing local production in Poland of its Barracuda 500M cruise missile. Richard Drake, Anduril UK's General Manager, said that each government has different needs for?localisation. EUROPE?STRIVES TO INDEPENDENCE Some Europeans are concerned that the U.S. may be less willing to or able to supply weapons, parts, or other support, especially if American defense companies have to prioritize U.S. military requirements in other regions. Industry insiders and experts say that Europeans are no longer interested in finished products. They want to have access to the technology necessary to modify, repair and maintain their own equipment. Fabio Dalpan, senior partner of Boston Consulting Group in Milan, said that they want "a significant transfer of IP". The U.S. defense industry is heavily dependent on Europe, but the concern for U.S. firms is if this trend towards increased autonomy will continue. Tom Waldwyn of the International Institute for Strategic Studies in London said that this is "of great concern". Some equipment, like F-35 fighters and Patriot air-defence systems, cannot be quickly replaced by Europe. Sash Tusa is an aerospace and defense analyst with UK-based Agency Partners. He said that in other areas, "European capabilities may be good enough" and in cases where the country has a huge advantage in terms of sovereignty, they may even be cheaper. He added that this includes medium-range missiles for air defence. Analysts say that Europe is progressing in its efforts to wean itself off U.S. technology in certain?areas such as early-warning aircraft. NATO announced a $4.5 billion plan for up to 10 Saab GlobalEye'surveillance aircraft to replace aging AWACS - early warning aircraft. This is a Swedish solution over a rival system from U.S. planemaker Boeing. Europeans, meanwhile, are working on developing new technologies. The British government announced that it would adopt a new unmanned fighter aircraft developed by UK-based BAE Systems as its "operational concepts demonstrator" at the airshow. This is despite the fact that a number of U.S. firms are already developing similar planes, some of which were displayed at Farnborough. Last week, Air Vice-Marshal Jim Beck of the UK Royal Air Force, director of capability, said that Britain's program would have many vendors involved, but it would be "sovereign". "We must have the freedom to use our equipment at our discretion." (Reporting and editing by Joe Brock, Sharon Singleton, Cassell Bryan Low)

• Chinese titanium firms look to expand beyond their home market

  Chinese titanium suppliers used this week's 'Farnborough Airshow' to court aerospace customers. They bet that tight global supplies of a critical metal will outweigh any concerns about U.S. Tariffs. Titanium is a vital material in aircraft production because of its light weight, strength and corrosion resistance. It's used for landing gear, jet engines and airframes. Supplies have been squeezed by a number of shocks over the past few years. From the COVID-19 pandemic to Western sanctions against Russia, a major producer of titanium after its full-scale invasion in Ukraine 2022. To U.S. Tariffs on Chinese Imports under President Donald Trump. Nearly two dozen 'Chinese' firms, such as HST Titanium (HongshengTai), Jinda Titanium (Jinda Titanium) and Baoji YongshengTai (Baoji YongshengTai), showcased products ranging in size from titanium sponges and ingots, to ceramic brake plates, at Farnborough. They were looking to expand their market beyond the domestic one dominated by COMAC, "There is a lot of competition within China, and they want to expand their overseas market," Karolina Jackowicz, a metals specialist at CCMA (a raw materials distributor that advises Chinese suppliers) said. CHINA SEEKS OVERCOME TRUMP TARIFS While U.S. Tariffs on Chinese Titanium initially hurt the suppliers, executives in the industry said that they still see opportunity in America, where supplies are constrained and production has stopped. Also in Europe, there was a lot of interest. Airbus has confirmed that at least three Chinese suppliers who declined to name themselves, have their titanium used in the aircraft. Airbus has not responded to a request for comment regarding its use of Chinese Titanium. John Strickland, an aviation analyst, said that the large Chinese presence at Farnborough - one of the largest aerospace events in the world - highlighted a renewed push for Western markets. They are networking. They're networking. They are explaining their product. He said, "They're showing off their product." COMAC was the most prominent Chinese aerospace and defense firm at the air show. COMAC is attempting to compete with Boeing and Airbus in commercial aviation, but it remains dependent on foreign suppliers of key technologies including jet engines. Strickland expects COMAC, and Chinese aerospace suppliers, to play an increasing role in the global market. However, they will have to develop the support ecosystem that is essential to Boeing and Airbus’s success. This includes?maintenance networks, spare parts distribution, engineering support, and aircraft leasing services. Strickland stated that "if they deliver their planes... in terms reliability, performance and in particular, a market that shows they can develop infrastructure worldwide, that's what the airlines want." (Reporting and editing by Joe Brock, Sharon Singleton and Shivansh Twary)

• EasyJet CEO: Once the takeover is formalised, EasyJet will adhere to EU regulations

  EasyJet will contact the regulators in the European Union over ownership regulations as soon as the 'British carrier' has received a formal offer from one of its potential suitors. CEO Kenton Jarvis responded to the report on Thursday. Reports on Wednesday said that the EU could tighten airline ownership regulations, which would potentially complicate easyJet's takeover. Both of easyJet’s bidders, Apollo and Castlelake, are based in the United States. The airline has chosen Apollo's PS5.7billion ($7.6billion) bid over Castlelake's?lower offer. Jarvis explained that the board would consider both value and deliverability in evaluating any 'offer. Deliverability includes, for example, being an ally of Europe and being regulated as such." Jarvis added that easyJet,?Apollo and regulators will likely work "hand-in hand".

• EasyJet's Q3 profits lower as Iran War raises costs

  EasyJet, the target of a takeover, reported a PS85million ($113.8million) profit in its 'third quarter' on Thursday. This was a significant drop from a year earlier due to disruptions caused by Iran war, but said that consumer confidence is increasing as we enter 'peak summer season. The British budget airline, which has backed U.S. investor firm Apollo's PS5.7billion?takeover?offer over Castlelake's?repeated?approaches, stated that there was a strong demand for bookings made late in the month before departure, throughout the entire quarter. It also said it had 68% of its seats sold during the fourth quarter. The 'five-month war' has a dreary effect on the travel industry, as its quarterly earnings are a far cry from the PS286million profit it logged last year.

• Wall Street Journal, July 23,

  These are the most popular stories in the Wall Street Journal. The?has not?verified these stories and?does not?vouch for their accuracy. Union Pacific has struck a deal with Canadian National Railway in which it will give Montreal Railway more access to the Midwest, in exchange for the company ending its opposition to Norfolk Southern's merger with the American railroad. After the companies made concessions in relation to film distribution, the European Union has approved Paramount's $81 Billion bid to purchase Warner Bros Discovery. IBM CEO Arvind Krsna urged the company to shift its sales force away from large licensing deals and towards consumption-based cloud-based models after lowering its revenue growth forecast for the full year. Taco Bell executives held late-night meetings to discuss the chain's response to an outbreak of cyclospora linked to shredded romaine lettuce. Officials diverted supply trucks and mobilized field teams to remove cases of contaminated romaine lettuce. Prologis, a U.S. warehouse owner, increased its final bid for U.K. competitor Segro from?14 billion pounds to $ 18.74 billion and has ruled out any further increases. Penske Corp and Mitsui offered $210 per share for the sale of Penske Automotive Group, a potential deal worth $3.78 Billion.

• US NTSB does not rule out the possibility of age and service in Ryanair 737 engines incident

  The U.S. National Transportation Safety Board announced on 'Wednesday that it had not ruled out the possibility of age or service problems in a?investigation into an occurrence in which a passenger was partially sucked out a broken window in a Boeing 737 NG after an engine failure. The letter contradicts Ryanair CEO Michael O'Leary, who on Monday said that an initial investigation found "foreign objects damage", and not the age of the aircraft or its servicing conditions. Jennifer Homendy, Chair of the NTSB, wrote to O'Leary in a letter that the NTSB had not reached this conclusion. Our investigators are still evaluating whether age or service issues were a factor. She asked him to refrain further from public comments about the investigation. Ryanair and Boeing didn't immediately respond to our requests for comments. According to Federal Aviation Administration and video, the NTSB is currently investigating the incident that occurred on July 10, in which a part of the aircraft's engine broke away and smashed a window shortly after taking off from Thessaloniki, Greece. The plane was headed for Germany when it lost pressure. It landed in an emergency. O'Leary said that the initial indications would indicate a foreign object damaged to the engine during takeoff in Thessaloniki. However, analysts were unable to confirm this. O'Leary stated that the aircraft was 18 years old, and the engine had been overhauled and fully serviced in the last two year. He said that in approximately?28-days, a 'draft report' on the incident will be released. This will be followed by a detailed report. FAA Administrator Bryan Bedford said last week that the incident, which had echoes to two Southwest Airlines Boeing 737 NG flights in 2016, and '2018, prompted a reevaluation of?the response?to these incidents. He added: "I do not think early indications show (the recent Ryanair issue) is a replica of what the Southwest Airlines incident was." (Reporting and editing by Aurora Ellis; David Shepardson)

• Farnborough Airshow: Boeing and Airbus battle it out as orders surpass 300

  As the Farnborough International Airshow nears its conclusion in the United Kingdom, airlines have revealed over 300 plane orders. Boeing has a slight advantage over European rival Airbus in the race for sealing deals, according to a tally. Here are some of the biggest deals, with 327 firm orders. This is slightly more than?the previous Farnborough airshow in 2024. The?tally falls short of the 800 orders that were expected, due to supply-chain issues and production bottlenecks. SMBC AVIATION CAPITAL Boeing and SMBC Aviation Capital have announced that they have ordered 100 737-MAX aircraft, 60 737-10 jets and 40 737-8. SMBC announced that it had placed a firm 100 Airbus A320neo family aircraft order, including 65 A321neos and 35 A320neos, for delivery to begin in the first half of the decade. RIYADH AIR Saudi carrier exercised options on 28 Boeing 787 Dreamliners placed in 2023. 20 of these aircraft were converted to the larger 787-10 version. The firm has also confirmed the purchase of six Airbus A350 1000 aircraft, bringing its total A350 1000 order book up to 31 aircraft. PHILIPPINE AERIALLINES Boeing has announced that it received a "new order" from Philippine Airlines for up to twenty 787-10 Dreamliner twin-engine widebody jets. The order is composed of 15 firm orders, and five options. The airline has also placed orders for nine Airbus A350s and secured purchase rights for another five. It expects to receive its first Airbus A350 in early 2030. AERCAP The leasing giant AeroCap has placed an order to deliver 15 Boeing 787 Dreamliners between 2033 and 2033. FLYNAS Saudi Arabia's budget airline Flynas has confirmed an order for 25 more Airbus aircraft. Flynas has now committed to Airbus 235 aircraft. OTHER ORDERS: Uganda Airlines has announced that it has placed orders for four Boeing 737 MAX narrowbody planes and four Boeing 787 jets. Boeing and MSC Air Cargo have announced that MSC Air Cargo has ordered five 777-8 Freighters. IBA, an aviation intelligence and advisory firm, said that Luxair had ordered two Boeing 737-10s worth $124m, based upon estimated prices after discounts. Shohin Airlines, a Tajikistani carrier, has ordered four Airbus A320neo family aircraft. BermudAir, a startup airline, has ordered 10 Airbus A220 aircraft to expand its routes. BermudAir plans to order up to 20 A220 aircrafts by 2030. EMBRAER JETS Brazilian aircraft manufacturer Embraer announced that Japan's Fuji Dream Airlines had placed a firm two-jet order for the?E175 regional jet. Embraer has already included the?order in its backlog. Abra, a South American airline group, also ordered Embraer 20 E2 aircraft. This was the first order Embraer received from this airline group. Embraer announced that Spanish regional carrier Binter has ordered five E2 aircraft from the Brazilian planemaker, increasing its fleet of Embraer's latest generation regional jets. ENGINE ORDERS British 'Airways has announced that it will be using Pratt & Whitney GTF engine for up to 63 incoming Airbus A320neo aircraft. Singapore-based BOC Aviation has placed its largest ever engine order of up to 300 CFM International engines to support the expansion of its Airbus and Boeing narrowbody fleet. IndiGo, India's largest carrier, signed a "memorandum-of-understanding" with CFM International for more than 1,000 LEAP-1A engine purchases. This would be a record for CFM International, who has been criticized by the industry over maintenance delays.

• US politicians promote aviation and space business at Farnborough Airshow

  U.S. politicians fought with European counterparts for investment from aerospace, defense, and space companies as the industries boomed. The number of U.S. government and private companies exhibiting at the show has increased by 21% since the previous event in 2024. Now, the U.S. accounts for around a third. Nine U.S. Senators, several Governors and other local officials and state officials attended. Gareth Rogers is the chief executive officer of the Farnborough International Airshow. As global tensions increase, governments are increasing their?defence expenditures. Meanwhile, the aerospace supply chain is spending more to keep up with thousands of plane orders for Boeing, Airbus, and Embraer, which will take years to complete. The space industry is also benefiting from more satellite and space launches. Some states, such as Kansas and Alabama, held parties in London for potential investors. Meanwhile, dozens of booths were set up at the airshow, promoting their attributes to prospective companies, including low taxes and regulations, competitive energy costs, and a skilled workforce. Aerospace Industries Association (AiA), a U.S. industry trade group, stated that the U.S. aerospace and defense industry will generate $1 trillion in business activity by 2025. This represents 1.6% of U.S. GDP, which supports more than 2.1 millions American jobs. U.S. officials cite the greater pay in North America, which is about 40% higher than the average national salary. The push comes as trade tensions are at an all-time high. Trump's administration has threatened to impose new tariffs on the aerospace sector, but delayed their implementation pending new negotiations. UK AND EU INCREASE SUPPORT FOR THE INDUSTRY The U.S. The?U.S. will also be facing stiff competition. The European Union will increase defence spending by 8.6% in 2026 to a new record of EUR454million ($518.10million). European countries also create new programs that aim to increase aerospace investments and jobs. The British government announced a PS600 ($802.50) package of support for the UK Aerospace Industry on Wednesday. This includes PS500 million?for aerospace research?and?technology projects?and a new PS100?million aerospace supply chain fund?working with industry partners such as Airbus, Rolls-Royce?, GKN Aerospace? and Safran?. The UK wants the market value of this sector to double by 2035. Virginia Governor Abigail Spanberger stated that her state has made efforts to develop a highly skilled workforce. She also said the state had invested hundreds of million dollars in order to provide sites for aerospace companies who wish to expand or construct. "We don't want to get complacent when we look to the future, because technologies are constantly changing," Spanberger said. He noted that Virginia is home to significant aerospace and defence companies and the Pentagon. Cleveland Mayor Justin Bibb cited the aerospace industry, NASA research center and manufacturing workforce in northeast Ohio as potential benefits. "The cost of doing business in Cleveland is a great deal more affordable than in Silicon Valley, the coast or the South," Bibb stated.

• EasyJet's bids are threatened by EU review of airline ownership rules

  An EU official revealed that the European Union was preparing to review airline ownership rules in order to prevent foreign investors gaining control over carriers. This could complicate US bids for easyJet, a low-cost airline. Officials said that the EU review was not previously reported and would "protect strategic independence" in order to keep control of regional carriers within the EU. The announcement comes as two U.S. investment firms compete for control of the major European budget airline easyJet. This is expected to test the limits of EU rules which require 51% local ownership. The official, who asked not to be identified due to the sensitive nature of the issue, said: "This is so that foreign investors do not have complete control." "We need to ensure that we have enough headroom in terms of control." EasyJet backed an offer of PS5.7 billion ($7.65billion) by Apollo Global Management earlier this month, beating out a previous PS5.5 billion offer from Castlelake. However, it did not elaborate on how they plan to meet EU requirements for majority ownership, a major hurdle in any non-EU acquisition. If the deal goes through, it could set a precedent for European Airlines, opening the doors to private equity buyouts. Takeovers are usually done by another airline, with the backing of the government. Officials said the review would likely take place in 'the autumn' and will look to clarify what types of corporate structures are allowed, particularly around control, ownership, and ownership. Officials said that Apollo, Castlelake, and EasyJet had not discussed the details of the proposed deals with European regulators. EasyJet declined to comment. Castlelake didn't immediately respond to our request for comment. "The industry has a wrong perception that we are not enforcing the rules as strictly. The wrong perception will lead people down the wrong path," said the official.

• BermudAir purchases 10 Airbus A220 aircraft as part of its expansion plan

  BermudAir has ordered 10 Airbus A220 aircrafts to expand its routes into 'Bermuda and Anguilla as well as Belize, Turks and Caicos, Turks & Caicos, Turks & Caicos', the startup airline announced on Wednesday. Adam Scott, BermudAir's CEO and founder, said that the A220 has the performance characteristics to help us expand our footprint and open more markets. The airline plans to double its 11 routes currently in operation by the end of the year. The A220-300 order was signed during the Farnborough Airshow. The Bermuda carrier has been operating since 2023. BermudAir plans to add up to 20 A220 planes by 2030, and eventually replace its fleet of Embraer-190 aircraft. BermudAir is competing with U.S. carriers JetBlue, American, and United for New York flights. However, some new routes are not heavily competitive. Scott stated that the carrier's focus is on improving customer experience. "We are winning these customers because we do something very different," said Scott. The new routes include six to Turks and ?Caicos, with ?service from Newark, Boston, Baltimore-Washington, Raleigh-Durham, Fort Lauderdale and St Petersburg/Tampa, and five new routes to Belize. The airline will also be expanding its seasonal service to Anguilla. The airline is planning to install wifi on its planes, as they currently do not. "It's not easy to start a?airline," he said. "You have to be very determined." Scott said, "You have to be dedicated to it." It's always best to be steady. (Reporting and editing by Joe Bavier, Andrew Heavens, and David Shepardson)

• Airbus shares rise on EUR5 billion buyback and new guidance

  Airbus shares rose more than 5% on Wednesday after the European planemaker announced a EUR5billion ($5.7billion) share-buyback program and revealed new midterm targets, including a near-doubling of profits by 2020. Airbus announced late Tuesday that it was aiming for a core profit of EUR12 to EUR13 billion by 2029. This would be a significant increase from the EUR7.13 billion adjusted earnings before interest and taxes of last year, as well as a target far above EUR7.5 billion set in 2026. In a note for investors, Deutsche Bank analyst Christophe Menard stated that the EUR5 billion (or five billion euros) share buyback over a three-year period was 'the positive surprise. Airbus, the world's biggest civil?planemaker, also anticipates that its dominant commercial aircraft business will generate around EUR10billion in?operating profits in 2029. It has also struck a?positive note on aircraft deliveries. Airbus began the year with a slowdown due to supply-chain and engine bottlenecks, but has since accelerated its deliveries. First-half handovers have increased by 15%. J.P. Morgan wrote that Airbus "delivered all the things we felt were needed for shares to rise".