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Passenger Transportation Services
Spirit Airlines will shrink its fleet to a third of the size it was before bankruptcy
Spirit Aviation Holdings, the parent of Spirit Airlines, announced on Friday that it planned to "shrink" its fleet by about one-third, according to court documents. After filing for bankruptcy two times in a single year, the?low-cost airline, which has been selling aircraft and contacting potential buyers, is pursuing a major restructuring to cut costs and stabilize its finances. Spirit Airlines entered Chapter 11 protection with 214 aircraft in August of last year. In October, they cut about 100 aircraft through lease refusals and retirements. A bankruptcy judge in the United States approved Spirit's request earlier this week to "launch an
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Transportation
Early findings indicate that the US-owned tanker near Iraq was attacked by unmanned vessels
Two explosive-laden unmanned boats rammed a Safesea 'Vishnu' tanker in an Iraqi port on Wednesday. The explosion engulfed vessel's portside in flames, and the crew had only seconds to respond, according to a preliminary assessment by the vessel’s U.S. operator and owner. The?Safesea Group, based in New Jersey, said that after speaking with the crew members who survived the attack, it appeared to be deliberate and calculated. At least 16 vessels, including tankers and other vessels, have been attacked in the?Gulf as a result of the U.S./Israeli war against Iran. The threat by Tehran to attack vessels in or near
Passenger Transportation Services
Passenger Transportation Services
As the Middle East conflict escalates, airlines cancel more flights
The global air travel industry is still severely affected by the Iran war, which forced the closure of key Middle Eastern hubs such as Dubai, Doha, and Abu Dhabi. This left tens or thousands of passengers stranded. The following is a list of the latest flights in alphabetical order. AEGEAN AIRLINES Flights to Tel Aviv and Baghdad have been cancelled until March 29. Flights to Dubai have been cancelled until the 28th of March and flights to Riyadh are suspended until the 14th. AIR BALTIC AirBaltic, a Latvian airline, said that all flights to Tel Aviv were cancelled until the...
Passenger Transportation Services
Senator calls for US watchdog to investigate Texas drone incidents
The top Democrat of the U.S. Senate 'Commerce Aviation Subcommittee called on Friday for a federal investigation into a recent incident of a government use of a laser based 'anti-drone - system in Texas. Senator Tammy Duckworth, who sent the letter to, requested that the inspectors generals of the Departments of Transportation, Homeland Security and Defense jointly investigate the use by the government for high-energy lasers against drones. She stated that the Texas incidents near the Mexican border raise serious questions about interagency coordination, notification procedures and aviation safety protocols. On February 25, the U.S. Military accidentally shot down a...
Passenger Transportation Services
Fuel costs are increasing, so airlines are reducing their prices and cutting back on their outlook.
The global aviation industry has been thrown into turmoil by a surge in jet fuel costs, largely due to the ongoing U.S./Israeli war against Iran. Airlines have raised fares and revised their financial forecasts. In recent days, jet?fuel costs have increased from $85 to $90 per barrel to $150 to $200 per barrel for an industry where fuel can account for as much as a quarter or more of the operating expenses. Here is an alphabetical list of the ways airlines are responding to this issue: AEGEAN AIRLINES The Greece-based carrier said on 12 March that it expected suspended Middle...
Passenger Transportation Services
IndiGo, Air India seek government support during Iran crisis, sources say
Three sources said that IndiGo, India's largest airline, is asking New Delhi to reduce fuel taxes, and along with rival Air India they are also pressing for private airports in the Middle East to lower their charges. The conflict in the Middle East has made it more difficult for the carriers to make ends meet. IndiGo and Air India face a double blow as the Iran War makes it hard for carriers to access Middle East airspace, at a time that Indian airlines are banned from Pakistani airspace because of 'diplomatic tensions' between New Delhi & Islamabad. IndiGo flies to...
Passenger Transportation Services
US airlines' loyalty and profits are reshaped by credit-card cash
Since years, the fortunes and success of U.S. Airlines have been determined by fuel costs, fares, and how full their cabins are. A growing portion of their cash is now coming from co-branded cards. This trend can be seen in the way loyalty programs reward travellers. United Airlines announced last month that regular members who do not have its card would earn 3'miles per dollar spent on eligible flight, while cardholders earn 6'miles. The airline said that regular members would need to have a United card in order to earn miles for basic economy tickets. American Airlines no longer offers...
Passenger Transportation Services
Didi announces Q4 loss of $ 43 mln despite overseas expansion drive
Didi Global reported a net loss on Friday for the?fourth quarter as China's biggest ride-hailing service?accelerated its?international?expansion, increasing?costs. The company, which dominates China's market for ride-hailing services and has expanded in Latin America primarily with ride-hailing, food delivery and other services, reported a net loss to the tune of 43.48 million yuan (300 million yuan) over the last three months. This compares to a net loss in the same period of the previous year of?1.3bn yuan. The company reported that revenue grew 10.5%, to 58.4 bn yuan. The international revenue, which is only a tiny fraction of the total sales,...
Passenger Transportation Services
Minister says Turkish ship can pass through Strait of Hormuz
Abdulkadir Uraloglu, Turkish Transport and Infrastructure minister, said that a Turkish-owned ship which had been awaiting near Iran received permission to pass through the Strait of Hormuz after he and his officials contacted Tehran. Uraloglu, in comments made to Turkish media Thursday and released Friday, said that Ankara has declared the highest level of security warning for?strait. He also stated that Ankara continues contact with Iranian officials about the situation regarding the remaining 14 Turkish owned vessels. Uraloglu stated that "Fifteen Turkish-owned ships were present; we received permission from the Iranian authorities to use an Iranian port by one of...
Passenger Transportation Services
Wall Street Journal, March 13,
These are the top stories from the Wall Street Journal. The Wall Street Journal has not'verified' these stories, and cannot vouch for the accuracy of their content. ByteDance's Chinese parent company, TikTok, is building computing power outside China using high-end Nvidia processors. Qantas Airways has agreed to pay over US$74m to settle a class-action lawsuit for its decision to not offer immediate cash refunds on flights that were canceled during the Covid-19 pandemic. Stryker stated that a cyber-attack related to the Iranian conflict continues to disrupt its operations including order processing and manufacturing. The nonprofit that produces the television show...
Passenger Transportation Services
The Taliban in Afghanistan claim that Pakistan has bombed a fuel depot near Kandahar Airport.
The Taliban said that Pakistan bombed a fuel depot near the Kandahar Airport in Afghanistan, which is operated by the private airline Kam Air. This was the worst conflict between the South Asian neighbors for years, despite attempts to calm tensions. Last month, Pakistani airstrikes in Afghanistan targeted what Islamabad claimed were militant strongholds. Afghanistan launched retaliatory strikes after calling the airstrikes a violation of its sovereignty. Zabihullah Mojahid, Taliban spokesperson, said that "the company (Kam air) supplies fuel to civil?airlines and to United Nations aircraft." He said that Pakistan also carried out bombings, including in the capital Kabul. Women...
Freight Logistics
As Middle East trade routes are blocked by conflict, air freight rates have risen.
Data shows that air freight rates on some routes have risen up to 70% since the U.S./Israeli war against Iran began. The conflict has caused flights to be restricted, ocean shipments to be blocked, and jet fuel prices are on the rise. Experts say that the Middle Eastern airspace restrictions and security concerns have had the greatest impact on the rates for routes between South Asia and Europe. This is after more than 100 containers ships were stranded in the area surrounding the Strait of Hormuz, a vital oil export corridor. Container ships are used to transport products like generic...
Passenger Transportation Services
South Korea Police raid Transport Ministry to expand Jeju Air crash investigation
South Korean police investigating the 2024 Jeju Air crash announced on Friday that they had raided the?transport ministry? as part of an extensive investigation into whether regulatory failures contributed to disaster at Muan International Airport. The raid comes after a'reinvestigation' of wreckage by the Ministry and the Aviation and Railway Accident Investigation Board. This has revealed additional human remains and personal belongings, more than a year after the crash. Authorities have already combed regional aviation offices, as well as contractors involved in airport construction. This is part of an effort to establish responsibility for the crash that killed 179 people....
Passenger Transportation Services
US State Dept. says that US has organized nearly 50 charter flights to Middle East in response to the Iran strike
A State Department official revealed on Thursday that the Trump administration had organized nearly 50 flights 'to return U.S. Citizens from the Middle -East since the U.S. -Israeli War with Iran began. Officials also said the demand 'for 'the flights was declining. In the days following the conflict, the State Department received criticism for its tardy preparations in relocating diplomats and offering assistance to U.S. Citizens as Iran's attacks led to the closure of airspace?and cancellations of flights across the region. The official briefed journalists under condition of anonymity. "By today's end, we will have completed about four dozen flights,...
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...