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Passenger Transportation Services
Bloomberg News reports that Boeing is close to a 500-jet order with the Trump-Xi Summit.
Bloomberg 'News, citing sources familiar with the situation, reported that Boeing is close to announcing a 500 aircraft order for 737 Max Jets. This will be announced when U.S. president Donald Trump makes his first state visit to China in 2017. According to the report, both sides are in negotiations for a widebody deal that would include 'about 100 Boeing 787 Dreamliner and 777X jets. Boeing did not respond immediately to a comment request. In afternoon trading, shares of the company rose 3.7%. Trump will visit China between March 31 and April 2. Xi is expected to visit Washington in
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Logistics
US Customs Agency says system for refunding tariffs will be available in 45 days
A customs official stated in a Friday court filing that the U.S. Customs Agency is preparing a system to refund tariffs imposed by President Donald Trump, which were ruled illegal. Brandon Lord, a Customs and Border Protection officer, made the declaration as government lawyers and a federal trade court met to try and hammer out an agreement for the return of $166 billion worth of tariff payments to 330,000 importers. Last month, the Supreme Court ruled that President Donald Trump's tariffs were unconstitutional. The Supreme Court, however, did not specify how tariffs collected should be refunded. This left'small importers' worried
Passenger Transportation Services
Passenger Transportation Services
As flights to the Middle East cease, governments plan repatriation
Commercial flights have been grounded in some parts of the Middle East due to an escalating conflict after U.S. and Israeli attacks on Iran. This has left foreigners stranded and prompted governments to plan for repatriation. In alphabetical order, here is what government officials and representatives have said about the repatriation plan: AUSTRIA Austria's Foreign Ministry said that it has helped 117 citizens leave the UAE via Israel and neighbouring countries. It is planning to launch a charter flight for 170 passengers from Muscat, on 4 March. BULGARIA GullivAir and Bulgaria Air, as well as 'the State Aviation Operator', returned...
Passenger Transportation Services
CNBC reports that United Airlines is suffering from the fuel price spike caused by the conflict in Iran.
CNBC reported that United Airlines CEO Scott Kirby expects to see a "meaningful impact" on the carrier's results in its first quarter due to the soaring fuel prices following a deterioration of the?war? in Iran. However, travel demand is still strong, CNBC said. The report stated that if the conflict continues, the airline may also see an impact on the second quarter. Kirby said this at a Thursday event held by a university. The price of jet fuel has risen 15% over the last week. This is adding pressure to an airline industry that's already been hit hard by the...
Passenger Transportation Services
As the Iran conflict intensifies, maritime insurance premiums are on the rise
As the Gulf conflict intensifies, premiums on maritime insurance for war coverage have risen -- some by as much as 1000%. This has led to a dramatic increase in the cost of transporting energy along a crucial maritime corridor. The conflict sparked Saturday by Israeli and U.S. airstrikes against Tehran has 'paralyzed' traffic through the Strait of Hormuz - a major shipping chokepoint. Iran said on Monday that it would shoot at any ship trying?to pass' and nine vessels have been damaged in the area ever since the conflict started. Ship owners can claim for any damage their vessel or...
Passenger Transportation Services
As the conflict in the Gulf with Iran intensifies, private jets are emerging as an alternative means of escape.
Samuel Lait, who launched his pet-travel private flight firm in Dubai on Saturday, expected to receive inquiries from pet owners wanting to travel between the glitzy Gulf hub of Dubai and the United Kingdom. PetX Jets is flooded with requests from passengers of all ages - from pregnant couples to young adults - who want to leave the United Arab Emirates. Conflict has engulfed the region, forcing many countries to shut down their airspace, leaving tens or thousands stranded. U.S. and Israeli campaign against Iran entered the seventh day of its seven-day run on Friday. It threatens to escalate outside...
Passenger Transportation Services
Wizz Air UK receives green light to operate charter flights between the UK and US
Wizz Air announced that it had received permits on Friday to fly to the United States from the United Kingdom. This will allow the budget airline to offer charter flights. However, it does not currently have plans to provide regular commercial services. The airline will offer 'charter flights' for European soccer teams and fans who are attending the?World Cup as well as tour operators organizing?group trips in the U.S. Airlines on both sides of the Atlantic remain optimistic about the visitor numbers this year. The World Cup matches will be played in 10 U.S. States, including Missouri and Massachusetts. Wizz...
Passenger Transportation Services
As the Middle East conflict escalates, airlines cancel flights
The global air travel industry is still severely affected by the war in Iran, which forced the closures of major Middle Eastern hubs such as Dubai, Doha and Abu Dhabi. This left tens or thousands of passengers stranded worldwide, disrupting thousands flights. The following is a list of flights alphabetically arranged by airline. AEGEAN AIRLINES Greece's largest airline has suspended flights from and to Tel Aviv, Beirut and Erbil until early morning arrivals on March 13. Flights to and out of Dubai and Abu Dhabi will be suspended until evening arrivals on March 12 and flights from and to Riyadh...
Passenger Transportation Services
As the conflict in the Gulf with Iran intensifies, private jets are emerging as an alternative means of escape.
Samuel Lait, who launched a private flight company specializing in pet travel on Saturday in Dubai, expected to receive inquiries from owners interested to travel with their animals between the glitzy Gulf hub of Dubai and the United Kingdom. PetX Jets is flooded with requests from a wide range of 'passengers, from young adults to pregnant couples to elderly people, who want to leave the United Arab Emirates. Conflict has engulfed the region and forced countries to shut down their airspace, leaving tens and thousands of people stranded. U.S. and Israeli campaign against Iran entered the seventh day of its...
Passenger Transportation Services
As the Iran conflict intensifies, maritime insurance premiums are on the rise
As the Gulf conflict intensifies, premiums on maritime insurance for war coverage have risen -- some by more than 1,000% -- driving up the price of transporting energy along a crucial maritime corridor. The conflict sparked Saturday by the Israeli-U.S. strikes on?Tehran, a major shipping chokepoint, has paralyzed all traffic through Strait of Hormuz. Iran said on Monday that it would shoot at 'any ship' trying to pass. At least nine vessels in the area have been damaged since the conflict began. Ship owners can claim for any damage their vessel or cargo may suffer due to conflict or terrorism....
Passenger Transportation Services
Lufthansa beats its own operating profit forecast for 2025, but the outlook for 2026 is murky.
The airline reported better than expected results for the 2025 financial period, as tighter financial controls and fleet rotation helped it manage costs and maximize profits. In 2025, European airlines including Lufthansa will benefit from a slight reduction in fuel costs, which is expected to boost earnings, as the passenger demand remains strong. "Last Year, we were able to?significantly increase the Group's Operating Profit and achieve the highest revenue in our history." "Our results demonstrate the stability and resilience of the Group," said Carsten?Spohr, Chief Executive. Lufthansa has reported an adjusted operating profit of 2.32 billion euros, compared to the...
Passenger Transportation Services
Lufthansa's 2026 forecast is murky because of Middle East tensions, but 2025 results are impressive.
Lufthansa reported better results than expected for its 2025 financial period as it was able to manage costs more effectively and maximize profits through a stricter financial management. Lufthansa has reported a 2 billion euro adjusted operating profit ($2.32 billion) compared to a projected 1.9 billion euro by an?Lufthansa compiled analyst poll. This is up from the?1.6 billion euro adjusted operating profit in 2024. The German airline group reported an operating profit margin of 4,9%, up from 4,4% in 2024. Lufthansa hopes to increase operating margins to 8-10% by 2030, up from a?4.4% level in 2024. However, strikes like the...
Passenger Transportation Services
Wall Street Journal, March 6,
These are the most popular?stories from the Wall Street Journal. These?stories have not been?verified' and we cannot?guarantee? their?accuracy. Nike is expecting to charge $300 million for cost-cutting measures, which include job cuts. Delta Air Lines has reshuffled its top leadership team after the retirement of the company's president and the departure of the operations chief. - Netflix ?has acquired InterPositive, an artificial-intelligence filmmaking technology company founded by Ben Affleck. Affleck will remain as a senior advisor at Netflix, while the entire InterPositive team joins. The Defense Department has officially declared Anthropic as a supply chain risk and cut it off...
Passenger Transportation Services
Gulf carriers resume limited flight, but missiles fuel uncertainty
Emirates and Etihad Airways resumed limited flight schedules from their United Arab Emirates hubs to major global cities on Friday. However, the threat of missiles piled pressure on the airlines who were scrambling to accommodate travellers. Since the U.S. and Israel war against Iran began, most of the Middle East's airspace is still "closed" over missile and drone fears. Authorities have set up charter flights and secured seats on limited commercial services in order to evacuate tens and thousands of people. According to French Transport Minister Philippe Tabarot, a government-chartered Air France Flight to bring French citizens back from the...
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...