New Zealand's Prime Minister Christopher Luxon has survived a vote of confidence by National Party legislators on Wednesday. However, the second "challenge" this year exposed party divisions which commentators say could undermine his authority with less than three months to go before an election scheduled for November 7. Luxon convened National’s caucus following media reports that members of the party were seeking support for a change in leadership. This highlighted tensions within National, which is struggling to gain ground in opinion polls. Luxon, flanked by senior Ministers Erica Stanford, Chris Bishop and both touted to be potential successors, delivered a...

London, 12 August - Europe's largest travel company TUI missed its third-quarter operating profit expectations on Wednesday as bookings dropped and the price of jet fuel remained high due to a U.S.-Iran war. TUI's operating profit was EUR234.6m ($270.6m), down 27% compared to last year, and below the EUR274m projected by LSEG analysts. Europe's airlines have warned that booking windows are being shortened as travellers hesitate to book their holidays due to ongoing uncertainty linked to the Iran War. IAG, Lufthansa, and Air France-KLM are among the major?carriers that have announced they will either cut capacity or keep it flat...

Ryanair announced on Wednesday that it will 'deploy Google Gemini AI tools, and DeepMind models throughout its operations as part of a five-year cloud partnership. The technology is used to help manage crew scheduling and make operational decisions. Ryanair, Europe’s largest airline based on passenger numbers, announced that it would offer Alphabet’s Google Workspace services and Google Cloud to 35,000 of its employees. This will support its efforts toward a goal to?carry 300 million passengers per year by 2034. Eddie Wilson, Ryanair's CEO, said: "To support our growth, we must ensure that we have excellent infrastructure reliability. Our new dual-cloud...

Air Canada restored its core profit targets on Tuesday, but at a lower rate than its previous outlook. It expects that oil supply disruptions related to the 'war in Iran' will continue to impact jet fuel prices. The cost of jet fuel, which accounts for about a quarter of airline operating costs, soared after Iran closed the Strait of Hormuz as a response to 'the U.S. and Israeli strikes in late February. This waterway is responsible for a fifth of the world's oil supplies. The disruption has led to higher fuel costs across the airline industry. Air Canada stated that...

On?Tuesday an ash cloud from Sicily’s Mount Etna volcanic eruption drifted over?Malta, forcing some airlines to cancel flights to the Mediterranean Island at the height tourism season. Malta International Airport posted a message on Facebook saying that "we're experiencing flight delays due to volcanic ash clouds" over the Maltese Islands, following recent activity at Mount Etna. A spokesperson stated that 19 flights were cancelled by mid-afternoon Tuesday, and a number of?other flights?were significantly delayed. Malta Airport is located 220 kilometers (140 miles), south of Mount Etna. Mount Etna is the most active volcanic mountain in Europe. It erupted again last...

The Latvian state-controlled carrier airBaltic has asked bondholders to allow it to secure EUR225m interim financing in order for the airline's near-term liquidity requirements. It is doing this as a way of securing its finances and avoiding default. The company stated that the plan was to "strengthen the airline on a long-term basis". It added that the flight schedule would be maintained as usual. According to airBaltic, Lufthansa has a 10% share in the company. The proposal is dependent on bondholder approvals and other approvals. The company also said that it proposed a permanent funding package, which "contemplates", the?bondholders converting...

A source with first-hand knowledge of the situation said that India's civil aviation minister summoned Air India CEO Campbell Wilson after a flight from Phuket to Delhi suddenly dropped 300 feet in altitude. Air India and the Minister's Office did not respond immediately to'requests for comment. The Indian authorities launched an investigation days before the government's move. Air India reported that the flight from the 'Thai tourist town experienced a'momentary elevation variation' while flying over Odisha in eastern India, resulting in injuries for 13 passengers and four crew members. The aircraft carrying 137 passengers and eight crew members safely landed...

The U.S. Federal Aviation Administration announced?on Monday?that it expects to?temporarily suspend flight operations at Washington Reagan National Airport between 10:15 am (1415 GMT), and 1:15 pm on August 23, to support the 'Freedom 250 Grand Prix IndyCar Race. IndyCar will be racing through Washington's streets from August 22 to 23 in celebration of the 250th anniversary of the United States. The general admission tickets are free. However, spectators may pay to join the "Champions Club," which offers an "exclusive experience" during the race weekend. A two-day package costs $5,000 per person. In recent months, the FAA has shut down airspace...

Airbus, a European planemaker, announced on Monday that it would'send specialists to help aide in the investigation of a sudden loss of altitude by an 'Air India - Airbus aircraft during a flight last Thursday. Air India A320?VT-EXO operating flight AI2379, from Phuket to Delhi, lost a sudden 300 feet during cruise. The aircraft then stabilized and safely landed in Delhi. On the same day, the Indian government launched an investigation into the incident. They also said that they had obtained the flight data recorder and cockpit voice recorder of the aircraft for analysis. Eight passengers and four crew members...

Ukraine's?agriculture ministry told? On Monday, Ukraine's?agriculture minister? cited?Russian strikes? on the southern Odesa hub of the country. Taras Vysotskyi, the first official forecaster of exports since the Russian attack in late July that effectively stopped shipments out of Odesa port, which are crucial to Ukraine and global agriculture market. Before the increase, the ministry had forecasted exports at 43 million tonnes for this season. In recent weeks, Russia has attacked Ukrainian Black Sea port terminals, vessels that enter and leave the ports on a daily basis and their export terminals. The lower grain forecast highlights?the damage?attacks are inflicting? on a...

SAC, the operator of Catania airport in eastern Sicily, said that flights arriving there were suspended until 1500 GMT Monday after volcanic ash drifted from Mount Etna's newest eruption into the airspace surrounding the airport. Etna is the most active volcano in the world and it frequently causes disruptions to air traffic at Catania airport, Italy's 5th busiest airport by passenger traffic. SAC issued a statement Monday saying that "as the situation significantly affects operations, passengers should check with their airline the status of their flight before going to the airport". It added that the situation was constantly being monitored...

China is exporting its way out of an internal slump, causing what many Western governments refer to as a "second China shock." This strategy may be causing trade wars overseas, but it also creates a whole new group of potential domestic beneficiaries. In recent months, the dichotomy of China's robust export sector and its flagging economy was on full display. China's export?growth was 24% on a year-over-year basis in July, and it posted a $113 Billion trade surplus. This follows similar figures in June. It is now on track to achieve another trillion-dollar surplus by 2026. It recorded a disappointing...