Europe

Isaac Del Toro, of UAE Team Emirates - XRG, continued his excellent form in the Giro d'Italia by winning stage 17 on Wednesday with a perfectly timed sprint. The Mexican's stage win helped him extend his overall lead. The 155 km route from San Michele all'Adige in Italy to Bormio on Tuesday was not as difficult, but it featured two tough climbs: Passo del Tonale (with 3,800 metres elevation) and Passo del Mortirolo (3,800 metres). Del Toro, the youngest man in the field at the final ascent, was able to break away from rival Richard Carapaz of EF Education-EasyPost and...

Airbus warns airlines that delivery delays will continue for three more years, as the company works to resolve supply chain issues. At a recent gathering of customers in Toulouse, the cautious tone was reinforced. This puts more pressure on Airbus for it to show progress toward its goal of increasing production to 75 jets per month. Airbus has been talking about aircraft delays in 2027 and 2028, a senior airline executive told me. The delays are being announced in pieces every few months. A second source confirmed that aircraft scheduled to be delivered later in the decade were already penciled...

The Serious Fraud Office in Britain (SFO), announced on Wednesday that it had accused the director of an airline parts company of fraudulent trading. This came after planes worldwide were briefly grounded due to safety concerns. Jose Alejandro Zamora Yrala has been accused of running AOG Technics, a UK-based company with a fraudulent intent. He will appear before the Westminster Magistrates' Court in London on June 2. SFO stated that AOG Technics defrauded its customers (including airlines, maintenance providers, and parts suppliers) from 2019 to 2023, by falsifying documents relating to aircraft part's origin, status, or condition. In 2023, several...

The Brazilian airline Azul filed Chapter 11 bankruptcy in the United States on Wednesday. This was despite its efforts for months to restructure debts mostly from the pandemic era. This move could scupper any merger plans with Gol. It is the latest Latin American airline to declare bankruptcy following the depressed conditions the industry experienced in the first months of COVID-19. According to Brazilian airline, the deal involves a commitment to finance of $1.6 billion throughout the entire process, the elimination of more than $2 billion in debt and a further commitment to up to $950 millions in equity financing...

Aegean Airlines reported a record-breaking core profit for the first quarter of this year on Wednesday. This was boosted by an 8% increase in passenger traffic. Aegean, a member of Star Alliance, reported earnings before interest taxes, depreciation and amortization (EBITDA), of 43.8 millions euros ($49.56) in the first three months, up from 33.22 million a year earlier. The first-quarter revenue grew by 14% compared to the previous year, reaching 306 million Euros. In a recent statement, Dimitris Gerogiannis, Chief Executive of Athens and Thessaloniki Tourism, said that "the continued recovery in the local demand along with the gradual expansion...

Cebu Pacific, a Philippine budget airline, said Wednesday that it will lease two Airbus A320 aircraft to Saudi budget carrier Flyadeal in order to generate revenues from its excess capacity when the Southeast Asian nation's low-season begins. Cebu Pacific, in the "wet-lease" agreement, will rent its narrow-body aircraft to flyadeal, including the pilots, maintenance and crew, during the Philippines' slow months of July and August. This is a busy time for the Saudi carrier. At a flyadeal press conference, CEO Steven Greenway stated that "we have this natural synergy where my peak isn't his and vice versa." Cebu Pacific CEO...

Cebu Pacific, a Philippine budget airline, announced on Wednesday that it would "wet-lease" two Airbus A320 to Saudi budget airline flyadeal in order to generate revenues from its excess capacity when the low season months are approaching. Cebu Pacific, in the wet-lease contract, will lease its narrow body aircraft to flyadeal, including its crew, pilots and maintenance during the Philippines' lean summer months of July and August. This is a busy time for the Saudi carrier. Flyadeal CEO Steven Greenway said at a press briefing that "we have this natural synergy where my peak isn't his and vice versa." Cebu...

Singapore authorities announced on Tuesday that the weather radar system of a Singapore Airlines plane that was hit by turbulence last year, causing dozens of injuries and one death, is still being analyzed. The incident occurred after the flight SQ321 between London and Singapore experienced what the airline called sudden, extreme turbulence over Myanmar. Seatbelts were put in the spotlight after this first civil aviation death in 25 years. The airline industry also called for better turbulence prediction as experts warned that severe weather patterns caused by climate change may lead to more incidents. A preliminary update on the investigation...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Southwest Airlines has announced that it will begin charging $35 for the first bag checked and $45 per additional bag. This ends the long-standing policy of "bags are free". The airline is also launching basic economy fares, which offer fewer benefits and do not allow flight changes. Volvo Car plans to cut 3,000 jobs, mainly in Sweden. The plan is to reduce costs and improve efficiency in a global auto market that's tough. EU regulators have warned...

Global Airlines has again suspended flights to and out of Tel Aviv following a missile fired from Yemen by the Houthi rebels on Israel's main airport in May. Israel is continuing to strike the Gaza Strip. After a ceasefire agreement with the militant Palestinian group Hamas in January, they had started to resume their flights. Israel resumed its military operations in the enclave beginning in March. In May, it increased them. The following airlines have cancelled flights in the last few months: AIRBALTIC AirBaltic, a Latvian airline, has announced that it will cancel flights to and from Tel Aviv up...

The tariffs that President Donald Trump imposed on April 2, and the pauses in some cases, have created uncertainty among companies around the world. Some of these companies have withdrawn or stopped giving financial guidance. This is a list that includes companies who have taken such steps: AUTOS & TRANSPORTATION AUTINS GROUP A UK-based company that sells car components delayed its release of market guidance for the month of April, citing uncertainty due to U.S. Tariffs. CUMMINS The U.S. truck engine maker withdrawn its annual forecast on 5 May. Ford The U.S. automaker suspended its annual guidance May 5 after...

VietJet, a Vietnamese budget airline, announced in a release that it had placed a new order for 20 A330neo wide body jets with Airbus. The announcement came as French President Emmanuel Macron visited Hanoi, Vietnam to meet the country's leaders. VietJet said that the agreement, which follows a previous deal last year to purchase 20 A330neo aircraft, brings the total number of A330neos VietJet will be purchasing to 40. The company didn't mention any costs or give a schedule for delivery, but stated that the order was to "support strategic expansion in the next decade". VietJet chairwoman Nguyen Th Phuong...

Slovnaft, the Slovak refinery, has found alternative crude oil supplies to continue diesel exports to Czech Republic after EU exemptions that allowed the company to export products made from Russian oil expired on June 5, said MOL. Slovnaft has exported about half its production and relies mainly on Russian oil via the Druzhba Pipeline. It was granted a temporary exemption to EU sanctions, which allowed the company to process oil for both the domestic and international markets. After June 5, the Russian oil-based product will no longer be permitted to be exported, but they can still be used on the...

The German pipeline lobby group proposed on Wednesday a new strategy for gas storage that included a permanent reserve. This was done to lower the cost of constructing an energy buffer in advance of the European Winter. In order to avoid a supply disruption, European Union nations have increased their storage capacity in response to the energy crisis that is linked to Russia's invasion into Ukraine in 2022. The way in which Germany manages this practice has a resounding effect on the rest of the EU, as Germany is the largest energy market and storage facility on the continent and...

A Ukrainian official told reporters on Wednesday that Ukraine had protested at the International Atomic Energy Watchdog over reports that Russia was building power lines in order to connect its Zaporizhzhia Nuclear Plant to their own grid. Yuriy Vitrenko is Ukraine's representative at international organizations in Vienna. He told Ukrainian news agency Ukrinform, that Kyiv views any attempt made by Russia to connect its grid to the occupied plant as a gross violation to international law and Ukrainian sovereignty. The New York Times cited on Tuesday a Greenpeace report that found Russia building over 50 miles (80km) of powerlines between...

On Thursday, the Syrian government will sign an agreement with four companies to expand its electric grid by 5,000 Megawatts. This could double supply in a nation that has experienced severe power shortages for more than a decade. In most areas of Syria, electricity is only available for two to three hours per day. The government of President Ahmed al-Sharaa pledged that power would be increased in the country as soon as possible. According to an invitation sent out by Qatar's UCC Holding whose UCC Concession Investments unit will be the lead developer for the project, the deal launching Syria...

Svenska Kraftnat, the Swedish grid operator, announced on Tuesday that it will invest more than four billion crowns ($420m) in order to increase north-south capacity by 800 Megawatts by 2029. This is to reduce congestion. The company stated that the investments would cover upgrading two substations as well as other power-increasing methods, and not construction of new powerlines. It can take several years to build new powerlines and there is often local opposition due to land ownership or environmental concerns. Sweden's energy system has changed fundamentally in recent years. Some nuclear power plants have closed in the south, and wind...

Three sources with direct knowledge of this matter and a document show that the Iraqi oil ministry sued the government of Iraq's semi-autonomous Kurdistan Region over oil and natural gas contracts signed with U.S. companies. The legal challenge is a new obstacle to the restart of oil flows through the Iraqi-Turkish pipeline, which have been stopped since March 2023 despite the pressure from the Trump administration. Masrour barzani, prime minister of Kurdistan Regional Government (KRG), oversaw the signing two energy contracts worth a total of $110 billion in their lifetimes, with U.S. firms HKN Energy, and WesternZagros. Has contacted companies...

As part of its efforts to diversify Germany's energy supply, the state-owned operator Deutsche Energy Terminal announced that Germany launched a second terminal for liquefied gas imports at Wilhelmshaven, on Monday. Germany is now relying on LNG from the sea to replace Russian pipeline gas in response to Moscow's invasion. The country has also increased its imports of Norwegian pipeline gas. Peter Roettgen said, "We must reduce the risk of our industry and household being dependent on energy imports unilaterally," in a press release. Diversifying the gas shipping routes into Europe will help achieve this goal. Engie Deutschland and Tree...

Paulina Hennig Kloska, the Climate Minister, announced on Monday that PSE, a Polish operator of power grids has received an EU grant for network upgrades worth 1.3 billion Zlotys (348 million dollars). PSE said that its plan to develop the transmission network for 2025-2034 assumed an investment of more than 64 billion zlotys in 2034. Hennig-Kloska informed reporters that the grant announced Monday would come from the EU’s post-pandemic recovery facility. This provides Poland with almost 60 billion euro ($68 billion) of grants and low-interest loans, to be spent between 2026. Grzegorz Onichimowski, PSE's CEO, said that the company was...

The French police are investigating a possible arson as the cause of a power failure that hit the Alpes Maritimes region, in southern France, on Saturday. This includes Cannes where the world-famous film festival is being held. A spokesperson for the French National Gendarmerie said that they were investigating the possibility of the fire being deliberately started. At this point, no arrests have been made. RTE France is working to restore power in the west part of the region, which includes Cannes. This was announced by the local authority earlier that day. The Cannes Film Festival announced that the closing...

CPC, the operator of the Caspian Pipeline Consortium in Russia, said that a pumping station damaged in February has been restored to service. This route is Kazakhstan’s main way of exporting crude oil. It also transports Russian oil from the Black Sea to be exported by tanker. A drone attack was said to have damaged the Kropotkinskaya pumping stations. The General Staff of Ukrainian Armed Forces has acknowledged that Moscow accuses Ukraine of having struck the site. CPC delivered products while the pumping station is being repaired. The pipeline transports more than 1% daily oil supply in the world. The...

China's increasing natural gas production and pipeline supply is slowing down its liquefied gas imports in this year. This has capped prices in the area, but executives in the industry expect LNG demand to grow from the industrial and power sectors in China in the future. Customs data revealed that imports to the top LNG-importing country in the world fell to 20 millions metric tons over the first four month of this year. This is down from almost 29 million tons for the same period last year. The mild weather conditions and the buyer's resistance to higher prices were the...

MOL, the Hungarian oil-and-gas group, and MVM, the state-owned energy firm in Slovakia will charter tankers together to transport up to 160,000 tons of crude oil per year from Azerbaijan. This move is intended to diversify Hungary's and Slovakia's energy supply. Both companies will transport crude oil via the Baku, Tbilisi, Ceyhan (BTC), to the Ceyhan Terminal in Turkey, where it will then be distributed among MOL Group markets with an emphasis on Hungary and Slovakia. The companies stated that through this collaboration, MOL can increase the volume alternative crude oil processed at its refineries up to 160.000 tons per...