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Passenger Transportation Services
Iran conflict threatens Gulf Tourism, threatening years of investment
?Middle East tourism, worth some $367 billion annually to the region, is taking a hit from the widening conflict ?between U.S.-Israel forces and Iran, putting at risk the region's carefully-constructed image as a safe and high-end vacation hotspot after billions in investment ?in recent years from Abu Dhabi to Dubai. The'major hubs', such as Dubai, the largest international airport in the world, were largely grounded, leaving tens and thousands of passengers stranded. This is the worst air travel crisis since the COVID-19 Pandemic. Airport and the iconic Burj Al-Arab hotel were also damaged, alarming tourists from around the world who
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Freight Logistics
Sources say that Russian grain sales to Iran have stalled following US attacks
Sources told us on Tuesday that Russia's grain sales to Iran had stalled following the?U.S. and Israeli airstrikes of Saturday, despite the fact that Iran, Russia's third largest grain buyer, has already purchased 95% or more of its expected Russian wheat purchases for this season. Sources at Russian exporting firms, who declined to be named, confirmed that grain shipments bound for Iran had been halted from the Black Sea or Caspian Sea, but exporters were still working to fulfill existing contracts. One of the sources stated that "there is a demand for supplies but they are currently suspended." "I believe
Passenger Transportation Services
Passenger Transportation Services
How airlines have hedged themselves against fuel price rises
The Iran war has led to higher oil prices, and this is affecting jet fuel prices. This accounts for a large portion of airline costs. Brent crude oil jumped above $80 a barrel on Tuesday amid concerns about?supply disruption. Futures and options are used by some airlines to hedge against increases in price. Some airlines also hedge against changes in the value of the U.S. Dollar, which is used to price jet fuel. Here is a list of some of the largest airlines in the world. AIR FRANCE-KLM: In 'February, the Franco-Dutch group announced that it had increased its total...
Passenger Transportation Services
After US and Israel attack Iran, airlines cancel flights
The global air travel industry is still severely affected by the Iran war, which forced the closures of major Middle Eastern hubs such as Dubai, Doha, and Abu Dhabi. This left tens and thousands of passengers stranded and caused the cancellation of thousands of flights. The following is a list of the most recent flights by airline alphabetically: AEGEAN AIRLINES The largest airline in Greece suspended all flights from and to Tel Aviv, Beirut and Erbil until the early morning of March 10, 2010. The airline cancelled flights from and to Dubai, Abu Dhabi and Riyadh/Jeddah up until early morning...
Passenger Transportation Services
Ryanair's O'Leary witnesses a surge in Easter bookings due to Middle East conflict
Ryanair's CEO stated on Tuesday that Easter bookings have increased to European destinations, as people avoid the Middle East because of the regional conflict. He added that he did not expect a "big" impact in the long-term. The conflict between Israel, the U.S. and Iran has disrupted flights worldwide, shut down key Middle Eastern hubs, and sent oil prices soaring. Analysts warned of weeks of disruption. Michael O'Leary said at a press conference that there has been a huge drop in bookings for the Middle East and an increase in short-haul flights within Europe. "But I do not think that...
Passenger Transportation Services
Thales improves profitability after defence, avionics and aerospace boost earnings
Thales, a French aerospace and technology company, reported a slightly higher-than-expected annual 'core profit' on Tuesday. They also predicted higher profit margins this year. Europe's largest defence technology group, said that its main defence business was the driving force behind last year's performance. It also cited demand for avionics as well as space activities. Sales of 22.14 billion euro were up 8.8%, resulting in an adjusted operating profit of 2.74 billion euro ($3.20 billion). Order intake increased?1% to 25,26 billion euros from the record set in 2024. Estimates compiled by the firm showed that analysts had predicted an adjusted operating...
Passenger Transportation Services
After US and Israel attack Iran, airlines cancel flights
The global air travel industry is still severely affected by the Iran war, which forced the closures of major Middle Eastern hubs such as Dubai, Doha, and Abu?Dhabi. This left tens and thousands of passengers stranded and thousands of flights disrupted. The following is a list of the most recent flights by airline, alphabetically: AEGEAN AIRLINES The largest airline in Greece suspended all flights from and to Tel Aviv, Beirut and Erbil until the early morning arrivals on March 10. The airline cancelled its flights from and to Dubai, Abu Dhabi and Riyadh/Jeddah up until the evening arrivals on March...
Passenger Transportation Services
Netanyahu: US-Israeli War on Iran is not going to Take Years
Benjamin Netanyahu, Israeli Prime Minister, said that the war against Iran "would not take years" as the conflict escalated with Israel attacking again the Iranian-backed Hezbollah in Lebanon and Iran hitting Gulf States which host U.S. bases. Donald Trump, the U.S. president, launched strikes against Iran with Israel on Sunday. He initially predicted that war would last between four and five weeks. But he has now sought to justify an open-ended, broad war. Iran launched drone and missile strikes on not only Israel and U.S. forces, but also against a number of countries in the region who are allied with...
Passenger Transportation Services
Thales boosts profits with defence, avionics business
Thales, a French aerospace and technology company, reported a core profit slightly higher than expected on Tuesday. This was largely due to its main defence business and the demand for avionics. The largest European defence technology group said its adjusted operating earnings for 2025 rose?14% compared to a similar basis, to 2.74 billion euros ($3.20billion), while sales increased 8.8% to 22,14 billion euros and the new order intake edged up by?1% to 25,26 billion euros. According to a compiled consensus, analysts expected an average adjusted operating profit of 2.7 billion euro on revenue of 21,88 billion euros. The maker of...
Passenger Transportation Services
Qantas CEO: airline does a good job of monitoring fuel price increases and hedging.
Qantas Airways' CEO Vanessa Hudson said?on Tuesday? that although the airline has "pretty decent" fuel hedging, the increase in oil prices due to the conflict between Israel, the U.S. and Iran is significant for the aviation sector. She said that the airline's stock fell for the second consecutive day, with a trading volume of up to 3.9%. The conflict has forced major Gulf hubs to remain closed for the fourth day. This includes the busiest airport in the world, Dubai, which is usually home to over 1,000 flights per day. This has left tens or thousands of passengers stranded, as...
Passenger Transportation Services
Wizz Air announces it will increase flights to Sharm el-Sheikh in the wake of the Iran War
Wizz Air announced on Monday that it would "add substantial additional?capacity to Sharm El-Sheikh, Egypt" starting 'on Friday. This is to support Israelis and other customers whose travel plans have been disrupted due to the war between Iran which has closed the airspace. Wizz, a company that plans to open a 'base in Israel soon,' has suspended flights from and to Israel, Saudi Arabia and Dubai Abu Dhabi, as well as Amman, until March 7, due to the U.S.-Israeli strikes against Iran. These attacks have prompted retaliatory sonic missile attacks throughout the equatorial region. The airline will increase the number...
Passenger Transportation Services
After US and Israel attack Iran, airlines cancel flights
The global air travel industry was in chaos on Monday, as the war in Iran caused the closure of major Middle Eastern hubs such as Dubai, Doha, and Abu Dhabi, for a third consecutive day. This left tens and thousands of passengers stranded and thousands of flights disrupted. Global Airlines has cancelled flights in the Middle East following the United States' and Israel's strikes on Iran, which plunged the region into another conflict. The following is a list of the most recent flights by airline, alphabetically: AEGEAN AIRLINES Through March 3, Greece's largest airline suspended flights from and to Tel...
Passenger Transportation Services
Etihad Airways resumes certain operations; commercial flights are still halted due to the Iran conflict
The 'airline' said that Etihad Airways, Abu Dhabi, resumed a few?limited flight services?on Sunday, as airlines around the world, including Middle East carriers, adapt to the disruptions caused by the escalating conflict in Iran since Saturday. Due to the Israeli and U.S. attacks against Iran, and the military response of?Tehran, airspace was closed in several?countries throughout the Middle East including the United Arab Emirates and key airports such as Dubai and Doha. The airline announced that some repositioning flights, cargo flights, and repatriation flight may be operated 'in coordination with UAE officials and subject to strict operational and safety approvals.'...
Passenger Transportation Services
Israel's main international airport will reopen Monday in an 'extremely restricted format'
Ben Gurion Airport, Israel's international gateway near Tel Aviv said on its Whatsapp channel that they expect to reopen Monday evening in an "extremely restricted format" following the conflict with Iran which shut down Israeli airspace. Airport officials said on Monday that flights would resume on Tuesday but only Israeli carriers will be flying. Israel and the U.S. started bombing Iran on Sunday, triggering a retaliatory wave across the Middle East that has left hundreds of thousands of passengers worldwide stranded. El Al Israel Airlines announced on Monday that it is seeking approval to fly charters from Europe to Israel...
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...