Western Europe

Ryanair announced on Monday that demand was robust across Europe, and that it expected fares to rebound. This would allow the airline to recover much of its losses from last year as consumers struggled against high interest rates. The largest low-cost carrier in Europe reported a 16% drop in profit for the 12 months ended March 31. A softer demand from consumers and a dispute between online travel agents led to a 7% decrease in fares. In an interview, Chief Financial Officer Neil Sorahan said that demand is strong across the entire network. "We operate into 37 different countries. "We're...

Ryanair's annual profit fell by 16% on Monday, due to lower average fares. However, Europe's biggest low-cost airline said that the demand for summer travel was high and that fares had been modestly raised. According to a poll conducted by the company, Ryanair's after-tax profit was $1.79 billion for its financial year that ends March 31. In a press release, Chief Executive Michael O'Leary stated that "we are experiencing a robust summer travel demand 2025 across our network." He said: "While we cautiously anticipate recovering most, but perhaps not all, of last year's 7 percent fare decrease, this should lead...

Police said that five people died when two helicopters collided in a wooded region near Eura Airport, in the southwest of Finland. The mid-air crash occurred just after noon, near the town Kauttua. The wreckage fell about 700 meters (yards), from the Ohikulkutie Road. Five people died in an accident involving a helicopter near Eura Airport, said Detective Chief Inspector Johannes Siirila of National Bureau of Investigation. Police said that according to the flight plans, two people were aboard one helicopter, and three were in the other. Both helicopters are registered outside Finland. According to a report by Estonian Public...

Klaus-Michael Kuehne, an investor who is known for his high share prices, was quoted on Saturday as saying that Lufthansa management needs to be more aggressive in dealing with labour representatives' resistance. Lufthansa, which is struggling to compete with Asian airlines, relies on lucrative transatlantic routes to help revive its core airline. It has been bogged down in wage negotiations and high salaries and needs to find new revenue sources. The group's shares, which include brands such as Swiss, Austrian, and most recently Italy's ITA have gained around 6% in the past year, roughly on par with Air France-KLM, but...

Industry data shows that air freight capacity between China, the U.S., and Canada dropped by nearly a third this month after a tax exemption was removed for low-value goods leaving China. This has impacted a major revenue stream for Asia’s largest airlines. Air cargo carriers such as Cathay Pacific and China Southern have benefited from the booming volume of ecommerce from China to America, led by fast fashion retailers like Shein and PDD Holdings Temu. The temporary reduction in reciprocal tariffs between Washington and Beijing on Monday, from over 100% to more than 50%, prompted U.S. companies to resume their...

Leasys, an auto leasing company, aims to double its fleet's share of electric and hybrid vehicles by the end of next year. The rapid advancements in electric technology present challenges to the industry. Leasys, a 50-50 joint venture between Stellantis in Italy and France's Credit Agricole is the third-largest player in Europe's long term auto rental industry. The long-term lease, which allows the customer to rent a car at a fixed rate per month, usually for a minimum of 365 days, is an alternative to owning. In recent years, corporate clients have driven its popularity. Leasys is present in 11...

Air India and Boeing are in discussions to purchase around 10 737 MAX aircraft after Chinese customers began refusing to accept deliveries due a trade dispute with the United States. Two people who were familiar with the talks confirmed this. Boeing CEO Kelly Ortberg stated on Wednesday that, "due the tariffs many of our Chinese customers have indicated that will not be taking delivery", the company may redirect jets to customers who are in need. Both the United States and China have imposed tariffs exceeding 100% each on the other. Air India, according to two sources who refused to name...

State media reported that Morocco's King Mohammed V gave his approval on Thursday to a rail expansion project worth 96 billion dirhams (10,3 billion dollars), which includes the construction of a fast-track line from Marrakesh (the country's tourist center) by 2030. The extension of high-speed rail, intercity, and urban networks has been a result of Morocco's preparations for co-hosting the World Cup 2030 with Spain and Portugal. The country hopes that the investments will also help to develop its fledgling rail industry. The 53 billion dirhams high-speed rail line will run from Kenitra, on the Atlantic Coast, 430 km south...

Air India and Boeing are in discussions to purchase around 10 737 MAX aircraft after Chinese customers began refusing deliveries due to the trade war between the United States and China. Boeing CEO Kelly Ortberg stated on Wednesday that, "due the tariffs many of our Chinese customers have indicated that will not be taking delivery", the company may redirect jets to customers who are in need. Both the United States and China, two of the world's largest economies, imposed tariffs exceeding 100% each on the other. Air India, according to two sources who refused to name themselves because the talks...

The petrochemicals plant at Austrian Oil and Gas Company OMV's Schwechat Refinery near Vienna Airport broke down on February 2. This caused it to switch over to high-flare operation, which alarmed the passersby. It also prompted fire brigade calls. OMV's largest refinery, Schwechat, is one of Europe's largest. It has a capacity to process 9.6 million tonnes crude oil per year. Borealis is a petrochemicals company that's partly owned by OMV, and it's going through a merger. It has a production site next to the refinery. OMV released a statement that said, "On April 15, 2025, at 10:00 am (0800...

Heathrow's boss was criticized for a 18-hour airport shutdown last month. An airline representative had said that he raised concerns days earlier about the hub’s resilience, and lawmakers were scrutinising the embarrassing incident. The closure of the airport on March 21 was caused by a fire at a nearby substation, raising concerns about the resilience and safety of the national infrastructure. About 300,000 passengers were left stranded by the incident and airlines lost millions of pounds. In an effort to learn from the past, members of Parliament quizzed Heathrow's chief executive, National Grid representatives, SSE, and airline representatives on Wednesday....

IATA's head, who represents the world's airlines, has welcomed the call from Europe's leading carriers to delay a target of 2030 for sustainable aviation fuel usage in Europe. He said that Brussels policymakers must face reality. We can't pretend these targets are important and achievable. Willie Walsh said, "They were never going be able to be achieved." According to EU rules, suppliers are required to ensure that 2% (of the fuel) available at EU airports in 2025 is SAF, increasing to 6% by 2030, and then gradually to 70% by 2050. The airlines claim that SAF is scarce and they...

Four people with knowledge of the matter have confirmed that the Dutch state-owned power grid operator TenneT began talks with investors to sell a minority stake of its German division. This could be one of the largest deals of Europe in 2025. Tennet Germany's regulated asset base, a key gauge of valuation for energy grids that is 27.8 billion euro ($31 billion), will grow at a rate of 25% per year until 2029 according to a presentation to investors on the company's website. Three people have said that the Dutch government could earn up to 12 billion euro from the...

According to an industry source who is familiar with the calculations and statistics, Kazakhstan's oil output fell 3% in March, to 1,82 million barrels of oil per day (bpd) by April. However, it was still above the OPEC+ quota. Saudi Arabia, the group's leader, has demanded that all members adhere to their quotas. Kazakhstan, a country in the top 10 oil producers, had a quota of 1.473 millions bpd for OPEC+. The energy ministry of the country said in May that they were committed to OPEC+ but did not plan to reduce output as it "frequently informed" their OPEC+ partner....

In a statement released on Thursday, the National Wealth Fund of Britain will provide a loan to ScottishPower owned by Iberdrola to fund upgrades to Scotland's electricity grid. The announcement follows a week of widespread blackouts in Spain and Portugal, which industry experts claim highlight the need to massively invest across Europe's electrical infrastructure. Britain plans to decarbonise the power sector in its country by 2030. This will require significant grid upgrades to integrate renewable energy sources, such as wind and solar, to the system. The statement by Britain's Energy Minister Ed Miliband stated that the investment would help deliver...

In the wake of the unprecedented blackout last week, the chief of Spanish utility Endesa called on Wednesday for the country's politicians to examine the tax burden placed on nuclear power plants and improve the remuneration paid for investments in electricity grids. The power outage on the Iberian Peninsula that occurred on April 28, has reignited debates about the need to invest more in the grids to handle the increasing solar and wind output. "We need to build a resilient and robust grid. This requires significant investment, as well as fair remuneration," said Chief Executive Jose Bogas. He said that...

InCommodities, a Danish commodity trader, said that better management of renewable assets on a short-term basis and by balancing the markets could help them integrate into Europe's power system overall and counter grid constraints. Wind and solar power are increasing in Europe, but their intermittent production is a challenge for grid operators. They need to balance supply and demand all the time. The blackout that occurred in Spain and Portugal last week was a stark example of the challenges facing European power grids. These grids require trillions in dollars of investment to keep up with the growing green energy output....

The energy minister announced on Friday that Portugal supplies electricity to its clients using its own resources, as the power exchanges between Portugal and Spain are still suspended due to an investigation into the cause of the blackout this week. On Monday, Spain experienced a massive outage of its electricity grid. This also caused a power outage throughout Portugal as it imported cheaper renewable energy from Portugal. After a meeting online with her Spanish counterpart Sara Aagesen, acting Energy Minister Maria da Graca Carvalho said to reporters: "For the time being, we will continue without exchanging electric with Spain, as...

The German spy agency classified the far right Alternative for Germany (AfD), on Friday, as "extremist". This allowed it to intensify monitoring of the largest opposition party in the country. The Federal Office for the Protection of the Constitution's (BfV) decision was based on a confidential 1,100-page report prepared by experts. According to the security officials that have seen the report, here are some key findings and evidence: Anti-Migrant Incitement Officials from the parties often refer to citizens with immigrant backgrounds as "passport Germans", and use terms like "population replacement" when describing what they claim is the impact of mass...

On Wednesday, Spain's grid operator denied that solar power was the cause of Spain's worst blackout in history. Prime Minister Pedro Sanchez is under increasing pressure to explain why it happened. After a blackout which halted trains and airports, and trapped Spanish in lifts, life has returned to normal. Sanchez's critics blamed low investment for a system heavily reliant on intermittent solar power and wind. Sanchez announced an investigation by the government and stated that he wanted answers from private companies who feed electricity into the grid. He said that he had not ruled out the possibility of a cyber-attack,...

The need to replenish Europe's storages that were two-thirds empty following the winter will keep the market tight, and demand an increase in the supply of liquefied gas, according to Anders Opedal, CEO of Equinor. Equinor is the continent's biggest gas supplier. The European gas storage sites have ended winter heating at their lowest levels since 2022. This is due to the colder weather, lower wind speeds and increased demand for gas. Opedal stated that Europe will need 200-300 additional LNG cargoes than last year. He said that gas storages in Europe are low and that a tighter market is...

A massive blackout in Spain, Portugal, and parts of France has halted trains and bank machines, as well as traffic lights. It was one of the biggest power system failures ever seen in Europe. Cyber Attack? The Spanish grid operator Red Electrica has ruled out cyber attacks as the cause, but the High Court of Spain said that it will open an investigation in order to determine the reason. Spain's Prime Minister Pedro Sanchez Red Electrica said on Tuesday that just because it had ruled out any cyber attacks on its systems did not mean they could not have occurred....

The massive power outage on Monday reminded the Portuguese and Spaniards of their dependence on electricity in modern life and how they can be rendered helpless in an instant. Some people were trapped in lifts during the eight-hour power outage that began around midday. Others had to descend multiple flights of stairs with their phones as light. Metros and trains came to a complete halt. People were either trapped in carriages for hours by electric doors, or forced out to walk, jump over the tracks and pick their way across. Ana Cordero, a Puerto Rican tourist, was stranded for three...

ENTSO-E - the European power grid lobby - has demanded that Germany split its 25-year-old single electric market into five zones of price bidding. This is to prevent intra-German prices from leaking out to neighboring countries. As a six-month period of consultation began on Monday, here are some facts and considerations. Why has the topic been brought to the forefront? The European Network Companies' Group argues in its Bidding Zone Review that dividing Germany into zones will increase efficiency and lower management costs both inside and outside Germany. It said that a scenario based on conditions in 2019 showed that...