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After fatal aviation accident, US House lawmakers propose comprehensive aviation security bill
The bipartisan group of U.S. House members proposed legislation on Thursday to address 50 aviation safety recommendations that were issued following a yearlong investigation into the January 2025 collision between a regional jet operated by American Airlines and an Army Black Hawk helicopter, which killed 67 people. The chairmen of the House Transportation and Infrastructure and Armed Services Committees and top Democrats of the panel said that the bill aims at addressing a number of issues, including deficiencies in FAA safety culture, enhancing training and procedures for air traffic control, and strengthening the safety of airspace surrounding?Reagan Washington National Airport, where the fatal accident occurred last year. The U.S. House is separately set ?to vote Monday on the ROTOR Act, legislation passed by the U.S. Senate unanimously in December that would require ?aircraft operators to equip their fleets with a safety system known as automatic-dependent-surveillance-broadcast system, or ADS-B, by the end of 2031. The Senate bill also boosts oversight of commercial helicopter and jet traffic, and flight routes close to commercial airports. It is not clear if the House will add parts of the bill announced Thursday to the Senate's bill. Sam Graves, chair of the House Transportation Committee said that this comprehensive bill would make our aviation system more safe by addressing all factors involved in this accident. The bill, according to Representative Rick Larsen (top Democrat on the panel), addresses all 50 NTSB suggestions to "improve the airspace safety of travelers to protect them from future accidents". The House bill requires an independent audit of FAA safety culture and its safety management system. It also mandates improvements to helicopter routes and addresses concerns regarding military aviation practices. The NTSB concluded last month that systemic failures by the FAA caused the accident, which was the worst U.S. airline disaster since 2001. The NTSB found that the FAA allowed helicopters to fly close to airports without separating them from planes, and failed to act on data or recommendations to move helicopter traffic a distance away from the airport. The NTSB issued more than 30 recommendations to FAA citing "a series of failures" before the Washington crash. FAA Administrator Bryan Bedford said at a Thursday conference that the agency must improve its culture. He also promised to implement recommendations from the safety board. (Reporting and editing by David Shepardson)
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A top US airline lobbyist warns that capping credit card rates at 10% will harm the industry
The head of a trade group that represents major?U.S. The head of the trade group representing major?U.S. Airlines for America CEO Chris Sununu said at an aviation conference that capping credit card interest rates at 10%, or reducing the small 2% charge they receive on credit cards would have a huge economic impact across the industry. Trump called on January 10, for a cap of 10% on credit card rates to be in place starting January 20. Elizabeth Warren, a Democratic senator from Massachusetts, praised Trump's request and promised to work with him. This month, unions, civil right groups, labor unions and others[ backed legislation that would cap credit card rates at 10% over five years. Sununu said that the airline industry had a profit margin of a single digit and cited comments made by Jamie Dimon, CEO of JPMorgan Chase, who stated that the cap would'remove access to cards for much of America. Dick Durbin, a Democrat Senator from Illinois, has described airlines as "credit card companies who fly planes" because they generate billions in annual fees. The White House didn't immediately respond. The commercial airlines rely so heavily on their loyalty program and points. They drive revenue and they drive customers. "You mess with that, and everything changes," Sununu said. He said that hundreds of millions in airline investments in innovation were at risk, and could have massive ripple effects "very quickly." Due to the fact that there are fewer credit cards, "this means a great deal more people don't fly, or they can't use their points for free flights." Sununu explained that this would mean we were buying fewer planes. "You've got this half-trillion dollar industry that is now undergoing a massive change, all because it was enticing to talk about credit cards." Major Airlines have Years of fighting against legislation Visa and Mastercard would be forced to reduce the fees they charge on transactions. They could also stop issuing rewards credit cards which reward frequent flyer miles when consumers make a transaction. According to airlines, in 2018, over 31 million Americans held airline travel rewards cards. In 2023, 57% of frequent flyer points and miles issued will be generated through airline credit card usage. In 2023, points earned by using an airline credit card were used to award nearly 16 million domestic air visitor flights. (Reporting and editing by Franklin Paul, David Gregorio and David Shepardson)
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Mexican authorities strike back against illegal fuel trade with the discovery of a secret tunnel
Mexican authorities raided this week a tunnel that was used to steal fuel from a state-owned pipe, giving a rare glimpse into the long-running fight against a black market trade often dominated?by organized crime. The 22-meter (72-foot) long tunnel was discovered outside a house in rural Hidalgo state near the town of Tepetitlan. In a Tuesday statement, the Hidalgo State Attorney said that it led to two taps of an underground pipeline. Security forces also confiscated drugs at this location. The Hidalgo State attorney declined to provide any further details on the announcement. Unidentified person who was familiar with the operation said that there had been no arrests in relation to?the tunnel. The authorities didn't name the pipeline but matched its coordinates with an energy ministry map of hydrocarbon infrastructure. They identified it as the conduit that belongs to state energy company Pemex, which connects the Tula refinery, in Hidalgo,?to Salamanca refinery, in Guanajuato. On 'Wednesday,' when journalists visited the site near the rural settlement of Sayula, Army personnel and National Guard members were on guard. A banner with the words "property confiscated" was also posted. Huachicol (the theft and sale fuel in Mexico) was once the domain of local criminal groups. However, it has evolved into a violent multi-billion dollar business that is dominated by powerful cartels. This can include gasoline, diesel, and other refined products in addition to crude oil. Pemex has not responded to our request for a comment. In 2024, it reported that 11,774 illegal taps were found on its pipelines. In a U.S. filing last year, the company stated that its efforts to combat black-market trading "have not resulted in sustained improvements in recent years." The thieves dig long tunnels to reach pipelines. Fuel stolen from petrol stations is sold in glass bottles or plastic canisters for a significant discount. The tunnels that are used to tap into the pipelines have often been?elaborately engineered so that fuel can be sucked out without causing the pressure in pipelines to fall enough to alert Pemex. Fuels are highly flammable, and accidents happen. One such accident was an explosion that occurred in 2019 caused by suspected fuel theft. At least 137 people were killed. (Reporting and editing by Daina Beth Solon and Cynthia Osterman; Stefanie Eschenbacher)
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Teamsters ask judge to stop UPS from offering buyouts of $150,000 to drivers
A lawyer for the International Brotherhood of Teamsters said to a judge that the union expects more than 10,000 United 'Parcel Service drivers will accept $150,000 buyouts, if the 'delivery -giant can proceed with its planned workforce-cutting plan. Michael Feinberg, a union attorney representing 320,000 UPS employees, gave this estimate when he asked Chief U.S. district Judge Denise Casper to stop UPS from implementing the buyout plan. The Teamsters claim that the union initiated the buyout without negotiations, in violation of the?2023 contract. Teamsters also contend that the provisions of the?2023 contract prohibit UPS from entering such agreements with individual drivers. The union sued UPS on February 9, after UPS announced plans on January 27 to close 24?facilities and cut up to 30 000 jobs as it tries to get away from millions low-profit delivery for its biggest customer, online retailer Amazon.com. UPS introduced a previous buyout program in the?year prior to that, which was also opposed by local Teamsters unions. The program offered eligible drivers $1,800 per year in severance, with a minimum of $10,000. Feinberg stated that only?3,000 drivers took UPS up on its offer, which led UPS to increase the amount of severance pay offered to them. He said that if UPS continues to roll out buyouts to 105,000 employees who are eligible, "tens of thousands will be seduced" to apply in hopes of winning the $150,000 jackpot. Feinberg stated that those who accepted would be forced to leave their jobs in accordance with arrangements which could later by ruled as improper by an arbitrator. Without an injunction from Casper, it would be "impossible" for them to return, Feinberg added. He said that it would be difficult, if not impossible, for an arbitrator to rectify the situation. James?Nelson, a UPS lawyer, countered the union's claim that the contract was too broad to allow it to offer buyouts?to its unionized driver. He stated that the alternative was to force UPS to lay off drivers, as the contract allows. Casper said he did not have the authority to issue an order in the dispute. Nelson stated that if she did so, it would interfere in UPS's efforts to reduce the driver workforce in order to deal with an 8.6% drop in package deliveries, which it expects will continue in 2026. Nelson stated that the company was looking to offer people a?opportunity' to leave in exchange for a substantial financial reward. Casper didn't immediately make a ruling but she said that she would be making a decision "shortly." (Reporting from Nate Raymond, Boston; Lisa Baertlein, Los Angeles; Editing by Alexia Garamfalvi & Aurora Ellis).
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Prices in Russian ports are above EU price cap, but the urals fluctuation remains unchanged
The data shows that the Russian Urals oil differentials were unchanged on Thursday compared to Brent, while the grade's price remained above the new EU price cap so far this month. LSEG data indicates that the Urals FOB prices at Primorsk Port have been higher than the new EU price cap since February 1. The cap allows European companies to provide shipping, insurance and?other?services in exchange for Russian cargoes as long as the oil is sold below the cap. Calculations showed that the Russian state's oil and gas revenues are expected to almost halve in February 2025 to 410 billion rubles ($5.35 billion), due to lower oil prices and a stronger currency. PLATTS WINDOW The traders reported that no bids or offers for Azeri BTC, CPC Blend and?Urals were made on the Thursday. The chief of staff for Prime Minister Viktor Orban said that Hungary may cut off gas and power exports to Ukraine until Kyiv resumes Russian oil shipments via the Druzhba Pipeline. Data from the Joint Organizations Data Initiative revealed that Crude Oil exports by the world's biggest oil exporter dropped to 6.988 million barrels a day, compared with 7.378 million bpd last November. This is the lowest level since September. Reporting by
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The danger of ships and nets during the whale migration season in Chile
The increased activity of the 'fin whale', the'second largest whale in existence' along Chile's north coast during feeding season is highlighting an 'growing threat' to collisions with vessels and entanglements in fishing nets. This warning was made by marine experts and conservationists this week. Between October and January, the nutrient-rich waters in Mejillones Bay and Antofagasta Bay are a popular feeding ground for fin whales. The region is also a hotspot for maritime accidents that involve whales. This has led to a call from advocates for better habitat protection. Christian Guerra, a marine ecologist, said that Chile appears to be the main?space? where collisions have been recorded. "We lead the world in collisions and strandings, but we are also the worst." The Antofagasta cetacean observation network, a group of volunteers, monitors the whales to reduce these risks. Alex Sanchez, who is a member in the network, said that, "aside from ship collisions and fishing nets left at large-scale operations, these mammals are often caught by the nets." Drone footage from Algarrobo, further south than Mejillones or Antofagasta bays, captured the sight of a whale carcass washing ashore in this month. Silvana Espinoza is an eco-expert with Greenpeace. She said that "whales are vital for climate regulation and nutrients distribution." Reporting by Rodrigo Gutierrez, Writing by Daina Bet Solomon, Editing by Tomaszjanowski
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Targa Resources beats quarterly core profit estimates on boost in gas volumes
Targa Resources, a pipeline operator, beat its fourth-quarter estimates for adjusted core profits on Thursday. This was due to higher demand and transport volumes of natural gas liquids as well as natural gas. U.S. Natural Gas Futures jumped more than 11% in a single quarter, ending a decline that began in the second quarter. Midstream companies benefit from the strong oil and natural gas production of the Permian Basin. They also see a rise in natgas exports, and an increase in power generation linked to AI and data centers. Targa has announced plans to construct a 275 million cubic foot per day natgas plant in Permian Delaware. The plant is expected to begin operations in the fourth quarter 2027. Executives said on a "conference call" that "larger downstream capital project, including Speedway NGL Pipeline, and LPG Export expansion, are expected to be completed in the second half 2027. They said that the company expects to reach a core profit run rate adjusted of more than $6 billion after the completion of Speedway. Analysts at RBC Capital Markets said that while they viewed the fourth quarter and guidance as positive, the share price could react mutedly due to the recent outperformance. They also noted the increasing expectations for the print. Targa shares dropped 1.3% during afternoon trading. The total quarterly 'natural gas' sales rose 6.2%, to 2,96 billion British thermal unit per day. Meanwhile, the volume of NGL transported via pipeline increased by 20.3%. Targa's 2026 core earnings forecast is between $5.4 and $5.6 billion. The midpoint of this range is in line with analysts' estimates of $5.5 billion according to data compiled by LSEG. Houston-based company, Texas, posted a core adjusted profit of 1,34 billion dollars for the quarter ending December 31 compared to the estimated $1.27 billion. (Reporting and editing by Krishna Chandra Eluri in Bengaluru. Pooja Menon is based in Bengaluru.
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Four people killed and 17 injured in a truck explosion in the capital of Chile
Authorities said that at least four people were killed in the explosion of a truck transporting liquid gas, which flipped over and exploded on Thursday. A police chief said at a news conference that 17 more people were injured. The driver of the truck lost control and crashed, he explained. The authorities said that the truck driver was one of the victims. The prosecutor’s office is investigating the circumstances of the accident. The truck belonged to a local gas company Gasco. Gasco didn't immediately respond to a request from for a?comment. Social media videos showed the flames descending at the explosion site. The accident occurred in the northern Santiago community of Renca. It was near a highway and industrial area. According to firefighters, the?explosion? was felt in a radius between 150 and 200 meters. It also damaged at least 50 vehicles. Gabriel Boric, the President of Croatia, said that some debris had landed in three businesses but there have been no further reports about widespread damage. Claudio Orrego is the Governor of the Metropolitan Region of Santiago. He reported that five people were in serious condition. Orrego stated that "one person has burns on their entire body and is at imminent risk of death."
Brazil's Government considers easing airline access to the public aviation fund
Documents show that Brazil's Ports and Airports minister Silvio Costa Filho asked the Finance Ministry to relax conditions on loans for airlines backed by the National Civil Aviation Fund. The fund is a public one which will reportedly dispense 4 billion reais (764,76 million dollars) in 2026.
Costa Filho, in a letter to Fernando Haddad last week, wrote: "It is necessary to modify the resolution so that FNAC's credit becomes more attractive."
Documents attached to a February 13th letter were seen by. The proposed changes included expanding the ways in which airlines can access FNAC. This would include services like training for pilots, aviation workers, and more. The current program covers the purchase of domestically manufactured aircraft as well as engines and parts.
Costa Filho proposed increasing the financing cap for all eligible items from 10% to 30%, and explicitly allowing loan proceeds be used to secure contractual guarantees.
Embraer could benefit from a higher cap on financing backed by government support.
Costa Filho asked the Finance Ministry also to relax a rule that requires airlines to increase their number of regional flights to be eligible for FNAC.
According to the proposal, airlines must increase flight frequencies by at least 15% in Brazil's Amazon region and Northeast regions - or half the current 30% of flights - in comparison to the year before the request for financing, or ensure that at the very least 17.5% of all departures and landings in these regions, instead of the 20% they currently have, are made in the regions.
The 'Ports and Airports Ministry didn't immediately respond to an inquiry for comment. The Finance Ministry didn't immediately confirm whether or when this proposal would be considered by Brazil's National Monetary Council.
This body released a resolution in?October setting the rules for the loan, after?longstanding requests by the airline industry. After the COVID-19 epidemic, the government claimed that carriers required support to buy aircraft, conduct maintenance and purchase sustainable aviation fuel.
Gol, 'LATAM and Azul are by market share the two largest airlines operating in Brazil.
The interest rates for the loans ranged between 6.5% to 7.5% per annum, depending on credit lines, as compared to Brazil's benchmark of 15%.
(source: Reuters)