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Passenger Transportation Services
Israel's El Al Airlines doubles second-quarter net profit despite Iran conflict
El Al Israel Airlines announced a doubling of its second-quarter profit on Wednesday. The airline cited recovery from the initial impact of fighting between Israel & 'Iran' despite a sharp increase in jet fuel prices. On February 28, the U.S., Israel and other countries launched airstrikes on Iran. During this time Iran fired missiles towards Israel. This effectively closed Israel's commercial airspace, forcing El-Al and its rivals to fly only limited routes. The conflict was briefly ended by a ceasefire on 8 April. Israel has not been dragged back into conflict despite the fact that Iran and the U.S. continue
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Middle East
Indian Minister: Projectile sinks Indian vessel near Yemeni waters, but all seafarers are safe
In a Tuesday post on X, India's Shipping Minister Sarbananda said that a projectile hit a vessel flying the Indian flag near Yemen, causing a capsize. All 14 seafarers were rescued. Sonowal stated that the crew, which included 13 Indians, were rescued by Yemeni Coast Guards and brought to the Port of Mokha after the MSV Faize Noore Oliya sank into the Red Sea. Yemen's Transportation?Ministry, a part of the Saudi-backed and internationally recognised 'government', has accused Yemen's Iran aligned 'Houthis' of carrying out an attack using a boat laden with explosives. The group did not comment. The Houthis have
Passenger Transportation Services
Passenger Transportation Services
FAA wants airlines to have more flexibility in choosing emergency medical kits for flights
The Federal Aviation Administration proposed on Tuesday that airlines be given a 'flexibility with the requirements of emergency medical kits for commercial flights. The FAA proposes?moving away from a prescriptive?checklist?of medical items?and?setting instead?performance-based?standards that require carriers to have enough resources to manage nine conditions which are life-threatening? Emergency medical kits are required by the agency to be available for all passengers who need to be treated until emergency medical personnel can arrive. The proposal would allow airlines to?determine the items and quantities in a kit. The nine conditions are: severe allergic reactions, hypoglycemia, severe bleeding, gastrointestinal emergencies, childbirth and opioid...
Passenger Transportation Services
New York Times Business News - August 4, 2018
These are the most popular?stories from the New York Times business pages. These stories have not been?verified?and we cannot vouch for the accuracy of these stories. Boeing has been cleared by US regulators to begin delivering its Boeing 737 Max 7 jet, the smallest version in the best-selling 737 'Max family, after it made changes to the flight-control software, the pilot alert system and an engine system which prevents ice from accumulating. After being confirmed by Senate last week, Jay Clayton was sworn-in as U.S. Director of National Intelligence. Kay Granger died at her Fort Worth home due to Alzheimer's....
Passenger Transportation Services
Lufthansa announces 2026 profit forecast following Q2 fuel cost impact on EBIT
German airline 'Lufthansa' on Tuesday announced a range of 'its adjusted operating profit (EBIT) for 2026, after the figure was more than halved due to increased fuel costs in the second quarter. The company now expects an EBIT adjusted of EUR1.7 to EUR2.2 billion (1.96-$2.53 Billion) due to a 'heightened level of uncertainty caused by high volatility in kerosene prices. Carsten Spohr, Chief Executive Officer of the company, said in a statement: "We reflect today on a challenging second quarter which was marked once again by multiple geopolitical crisis and uncertainty." "Despite the significant increase in fuel prices, we could...
Passenger Transportation Services
Qantas, Australia's airline, will buy back shares worth $52 million from Jetstar Japan.
Qantas Airways announced on Tuesday that Jetstar Japan would purchase its 33.32% share in the budget airline?in a deal worth 8.2 'billion yen (US $52.11 million). This will allow it to become a Japanese company and be rebranded under a different name. In the agreement signed by Qantas and Japan Airlines, Jetstar Japan will purchase the minority share of Qantas while the Development Bank of Japan becomes a new shareholder. Japan Airlines and Tokyo Century will keep their respective stakes. Jetstar Japan, after Qantas divestment from the airline market in Japan, will rebrand and?drop its "Jetstar' brand to strengthen their?position....
Passenger Transportation Services
Boeing 737 MAX 7 certified by US FAA in win for planemaker
The U.S. Federal Aviation Administration approved the Boeing 737 MAX 7 on Monday, marking a major milestone for the American planemaker who has been waiting years to sell its smallest version. Certification of the jetliner was several years behind schedule. Boeing once said that it expected to have the plane approved by the end of 2022. Boeing announced last month that the engine anti-ice fix for its 737 MAX was 'in the final stages' of regulatory certification. FAA Deputy Director Chris Rocheleau said last month that the MAX 10 was "right behind" the MAX 7 in terms of approval. Cirium,...
Passenger Transportation Services
WestJet Flight Attendants end their strike after tentative wage agreement
The union that represents?flight attendants for Canada's WestJet has reached a tentative?deal on Monday with the second largest carrier in the country, ending a striking which led to hundreds of cancelled flights during the busy summer travel season. The Canadian Union of Public Employees (CUPE), which represents 4,400 flight crew members at the carrier, wanted to pay them from the moment they check-in until the moment they clock out, rather than just for the time their aircraft is in motion. WestJet has not disclosed details about 'the tentative agreement', which will be presented to the cabin crew for a vote...
Passenger Transportation Services
Planemakers, repair shops and other businesses take measures to conserve aircraft window in a tight market
Companies and industry sources said that planemakers, airlines, and repair shops were conserving aircraft glass after an incident occurred at a California factory. The incident 'worsened shortages for a part required for both new aircraft and regular maintenance. GKN Aerospace, a leading supplier of cockpit and passenger window products in the world, stopped production at its Los Angeles suburb factory late in May after an overheating fuel tank caused fears of explosion, forcing 50,000 residents to evacuate for several days. Sources and executives stated that the incident did not affect new plane production or airline operations but it caused delays...
Passenger Transportation Services
Wall Street Journal, August 3,
These are the most popular?stories from the Wall Street Journal. The Wall Street Journal has not'verified' these stories and does not vouch for their accuracy. The U.S. Treasury Department and Japan's Ministry of Finance conducted a joint intervention in foreign exchange to purchase the yen. German startup Agile Robots is expecting its revenue to double this year, from 300 million Euros. This will help it become profitable within two to three years. Acting Attorney-General Todd Blanche announced that he had formally rescinded the $1.8 billion "anti weaponization fund"?that was causing an impasse with two Republican senators who refused to confirm...
Transportation
Search for missing 28 after fire on ferry in Madura Island, Indonesia
Officials in Indonesia continue to search for the 28 people who are still missing after a ferry caught on fire near?Indonesia?s Madura Island, according to an official. Authorities had reported that the KM Mutiara Sentosa, which was carrying 271 'passengers', was traveling from Indonesia's second-largest?city of Surabaya in East Java province, to Makassar in South Sulawesi when it caught fire. Madura Island is located just off the northeastern coast Java. Arman Asmara, Director of Marine and Air Affairs at East Java Police, said that 28 of the 271 people on board remain missing. Five confirmed deaths and 238 were rescued....
Passenger Transportation Services
China's WeRide expands its European footprint with a new entry in Denmark
WeRide, a Chinese company that specializes in autonomous driving technologies, announced on Monday it will enter Denmark via a partnership with GreenMobility. This would extend its European footprint to a sixth country as Chinese firms specializing in'self-driving' technology accelerate their overseas expansion. China's auto-driving companies are now looking to Europe as a major growth market, after a previous push into the Gulf Region. They want to expand their market beyond their own home market, amid increasing competition and regulatory scrutiny. According to a statement from the company, under the partnership, which is subject to regulatory approval, WeRide,?GreenMobility, and other partners...
Passenger Transportation Services
After a U-turn in the Red Sea, a Russian product tanker reroutes its route around Africa.
Trade sources and shipping data showed that a 'Panama-flagged' tanker carrying Russian naphtha attempted to pass through the Bab-el-Mandeb strait during 'the last week of July. The ship then changed course to sail instead around Africa, according to LSEG. Data shows that the Suezmax vessel Sea 'Icon' loaded 100,000 tons of naphtha from Ust-Luga, Russia, on July 1 for shipment to Asia. The Arab Maritime Petroleum Transport Company, based in Kuwait, controls the tanker. The company did not respond immediately to an email asking for comment. The 'tanker' made a U-turn as it approached the Bab-el-Mandeb Strait, which is a...
Passenger Transportation Services
After talks fail, WestJet flight crews strike
Flight attendants at Canada's WestJet went 'on strike' on Sunday, after failing to reach an agreement with the country's second-largest airline. This resulted in the cancellation of flights during busy summer travel seasons. The Canadian Union of Public Employees (CUPE), which represents 4,400 flight-attendants at the carrier owned by Onex Corp., gave a 72-hour notice on Thursday, signaling that there could be a strike if negotiations failed to yield an agreement. In a Sunday Facebook post announcing the?strike, the?union didn't provide any details. CUPE and airline 'didn't immediately respond to emailed requests for comments outside of business hours. The union...
Ground Transportation
Amtrak, the US passenger rail company, sets a record for ridership and cuts losses
Amtrak, the U.S. passenger rail company, said Tuesday that it had set records for revenue and ridership in a single year. It also cut its losses by 15 percent to $598 millions and is aiming for profitability by 2028. Amtrak is a major effort in rehabilitating the infrastructure of the Northeast corridor between Boston, Massachusetts and Washington. It is expanding service throughout the United States by purchasing new Acela trains with higher speeds and replacing regional trains from next year. Amtrak reported that in the twelve months ending September 30, it had 34,5 million trips made by customers, an increase...
Whaleboat sinks into river in Congo, killing at least 107 people
According to a government internal report viewed by us on Friday, at least 107 people died when a whaleboat caught blaze in the west of Democratic Republic of Congo. In a memo, the Ministry of Social Affairs stated that 146 people were missing after the boat, which was a narrow double-ended open vessel, caught fire near Malange Village in Lukolela Territory on Thursday night. The note stated that rescue teams recovered 209 survivors after the vessel burnt and drifted downriver. The fire destroyed the cargo and 15 riverside houses. The search operations continued Friday, with community volunteers and naval personnel...
As inventories shrink, premiums for copper contracts on the nearby LME soar.
The premiums for copper contracts near London Metal Exchange have increased to their highest level since October 2022 due to low inventories, large cash contracts and warrants held by traders. The title document that confers ownership on metal is a warrant. Tom-next, also known as the premium or backwardation that is charged for purchasing copper tomorrow and then selling it the next day, is currently trading at above The price of a metric tonne is $48. This compares to a $2 discount at the beginning of the week. The premium for the cash Copper Contract over the Three-Month Forward It...