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Rescue operation underway for stranded South Korean ferry carrying 267 passengers
The coast guard reported that a South Korean passenger ship carrying 267 passengers, crew and cargo got stuck on Wednesday when it ran aground near the southwest tip of the Korean Peninsula. A rescue operation is underway to get them back to land. The Yonhap News Agency reported that South Korean President Lee Jae Myung is currently traveling in the Middle East and has ordered the swift rescue of everyone on board. This will prevent any casualties. Details of the operation will be released as soon as possible. The coast guard stated in a press release that authorities were using all resources possible in the rescue effort. It was reported that the coast guard did not believe there had been any casualties and that the boat wasn't taking in water. According to the coastguard, a 26,000-tonne ship was traveling from Jeju Island towards Mokpo. Unknown to the coast guard, the ferry struck a rock island near Jindo. Video footage shows passengers in life vests waiting to be transferred into rescue boats that are approaching the ferry. The bow of the vessel appeared to be stuck on a small island. However, it was upright and passengers appeared calm. The weather conditions on the scene was described as fair, with light winds. This area is close to the Sewol Ferry sinking in 2014, which killed over 300 people. Most of them were schoolchildren on a trip. Reporting by Heekyong Yay, Ju-min Park and Joyce Lee, Editing by Andrew Heavens and Ed Davies
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Slovakia could sue EU for plans to cut off Russian gas supplies
Robert Fico, the Prime Minister of Slovakia, said that the country is considering filing a lawsuit against the EU for its plan to halt Russian gas deliveries in 2028 due to its war with Ukraine. Slovakia and Hungary are both highly critical of EU plans to phase out Russian oil and gas. Both countries still rely heavily on Moscow for their energy supplies and fear that alternative, more expensive sources will harm their economies. Fico has split ranks with the majority of Europe because of his pro-Moscow position. He said that he had given his ministers for economy, justice and foreign affairs the task to analyze options to sue EU over stopping Russian gas deliveries to Slovakia. Fico said in a briefing televised that the government would discuss a document next week where they will examine the possibility of filing suit. UNABLE TO BLOCK PLAN "Everything depends on the way the European Commission fulfills its commitments towards Slovakia, which have been given and signed by the President of the European Commission," Fico said, referring to the guarantees the EU executive made earlier this year regarding possible shortages or increases in prices. He didn't say how much Slovakia could sue the EU, nor did explain what legal basis he was using. Last month, EU energy ministers backed a proposal to eliminate Russian oil and natural gas imports into the EU by January 2028. The EU must negotiate final rules with the European Parliament which is still debating their position. Slovakia was unable to stop the plan because it only needed a majority vote, not a unanimous one. Fico instead has tried to delay the EU's two last sanctions packages against Russia that require unanimity in order to obtain guarantees and other requests. Fico said the government would also discuss a proposal from the EU - that has not yet been agreed upon - to use Russian frozen assets in order to lend Ukraine $162 billion worth of 140 billion euro. He reiterated his opposition to the plan and said it raised legal concerns and uncertainty.
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Uganda: Three-quarters completed East Africa crude oil pipeline worth $5 billion, says Uganda
Uganda's government-run regulator for the sector said that about three-quarters has been completed of a $5-billion pipeline vital to exporting crude from Ugandan oil fields through Tanzania. Uganda now targets the second half next year for the start of oil production in its Albertine Rift basin, located in the western part of the country. Before production can begin at the $15 billion oil-project owned by Total Energies France and CNOOC China, it is necessary to complete the 1,443-kilometer-long (897-mile-long) East African Crude Oil Pipeline. EACOP, the world's largest electrically heated crude oil pipeline, will connect Uganda's oilfields with Tanzania's Indian Ocean Tanga Port. Ernest Rubondo said that the Uganda Petroleum Authority, which oversees the hydrocarbons industry in the country, had delivered all of the pipes needed for the project to the various stations along EACOP's route. Rubondo stated that TotalEnergies owns 62% of the project. CNOOC and state-owned oil firms in Uganda, Tanzania and Uganda are also shareholders. Rubondo stated that over $4 billion will be invested in Uganda's oil sector between 2025-2027, including activities at the Kingfisher and Tilenga discovery. Rubondo stated that drilling and development activities at Tilenga, Kingfisher and projects in preparation for crude production are 60% and 74% completed, respectively. Reporting by Elias Biryabarema. Vincent Mumo Nzilani, Mark Potter and Mark Potter edited the report.
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Archer partners up with Saudi entities to test air taxi operations
Archer Aviation announced on Wednesday that it had signed a contract with The Helicopter Company, a luxury developer owned by Saudi Arabia’s Public Investment Fund and Red Sea Global. Both companies are involved in developing, testing and possibly deploying electric aircraft within the Kingdom. Western air taxi manufacturers have increased their efforts to expand outside of their home markets. The Middle East has emerged as a major target due to its rapidly growing tourism sector, friendly regulators, and willingness to invest in new transport technologies early. THC, Archer, and Red Sea Global - a developer wholly owned by Saudi Arabia’s sovereign wealth fund PIF - plan to create a "sandbox", a structured environment, where Archer’s Midnight eVTOL can perform test flights in real world conditions. The tests would evaluate performance, operational viability and regulatory alignment, passenger acceptance as well as the overall ecosystem readiness. Red Sea Global is leading the testing of the aircraft, Archer's, to see how they could be integrated into the future transport network of the tourism developer. This deal comes after a series of international partnerships, including agreements with South Korea and Japan for the deployment of its Midnight aircraft to urban air mobility programmes. (Reporting and editing by Shilpi Magumdar in Bengaluru.
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SPECIAL RELEASE-The Charlie Kirk Purge: How 600 Americans suffered in a pro Trump crackdown
Lauren Vaughn is a kindergarten assistant from South Carolina. When she saw that Charlie Kirk, a right-wing influential, had been shot during an event in Utah. She opened Facebook and typed a quote by Kirk. Kirk, in 2023, said that gun deaths were "unfortunate" but "worth it," if they protected "the Second Amendment, to protect our God-given Rights." Vaughn then added, "Thoughts, and prayers." Vaughn is a 37-year old Christian who has made missionary trips in Guatemala. She said that her request for prayer was genuine. She said that she hoped Kirk's words, in context with the shooting, would prompt her friends to pray. Rethinking their opposition to gun controls She thought, "Maybe they will now listen." Vaughn was fired a few days later. Vaughn was among more than 600 Americans who were terminated, suspended, investigated or disciplined for their comments regarding Kirk's assassination on September 10, according to an analysis of court documents, public statements, reports from local media and interviews with 20 people who had been fired or otherwise disciplined. Some people were fired for celebrating or mocking Kirk’s death. At least 15 people received discipline for invoking "karma," "divine justice," or variations of "Good riddance"; nine other people were disciplined for saying "Good riddance." One poster said, "One down and plenty more to go." Some, such as Vaughn say that they simply criticised Kirk's political views. At least one academic in the pro-Kirk group was placed on administrative leave for threatening to "hunt" down those who celebrated the assassination. The most comprehensive account of the backlash to Kirk's critics to date, this report traces how local Republican legislators and other influencers mobilized in support of Donald Trump's movement. This story outlines the pro-Trump retaliation machinery that is reshaping American politics. It details its size and tactics, from public humiliation to social media shaming. Pressure on employers Threats to defund institutions. Previous reports have documented how Trump has purge the federal government Employees he deems to be opponents of his agenda Law firms are being targeted for a crackdown People in the crosshairs of the administration need to be defended. Sometimes, Americans lose their jobs for speaking out during heated political moments. In 2020, 22 academics lost their jobs. George Floyd is murdered According to the Foundation for Individual Rights and Expression (a group that advocates for free speech), a Minneapolis officer has fired more than 160 people, many for making comments that were deemed offensive. According to Palestine Legal, a group that protects civil rights for American supporters of Palestinian cause, in 2024, after the outbreak of the most recent Israel-Gaza conflict, more than 160 individuals were fired because of their pro-Palestinian activism. It is notable that Trump, JD Vance, and other government officials have publicly backed the backlash against comments made about Kirk's shooting. This is a dramatic change for Republicans who, for years, have criticized the left's "cancel-culture" -- the exclusion or punishment of people whose opinions were deemed unacceptable. The supporters of the firings claim that freedom of expression does not mean freedom from consequences. Doctors, lawyers and teachers should all have high standards of conduct. They said that emergency workers in positions of trust by the public are not included. Abigail Jackson, White House spokesperson, said in a statement: "President Trump, and the entire Administration, will not hesitate to tell the truth. For years, radical leftists slandered political opponents as Nazis or Fascists. This has inspired left-wing violence. It must stop." She continued: "No one understands the dangers associated with political violence better than President Trump", after he survived his two assassination efforts. Turning Point USA (the youth movement Kirk founded) said in a press release that it supports the right to freedom of speech. "This includes the right of private employers to decide when an employee has crossed a line and deserves to be terminated." The organization cautioned, however, that while celebrating Kirk's death is "evil and unqualified behavior," respectfully disagreeing to his ideas, values, or statements is every American’s right. Vaughn filed a federal lawsuit on September 18 seeking her reinstatement. She submitted a Letter Vaughn filed a lawsuit against the Spartanburg County school district after it received a letter from its superintendent describing her remarks as 'inflammatory, unprofessional and inappropriate.' The district responded by saying Vaughn was unable to prove the allegations. s post "a "Pared to endorse Mr. Kirk’s murder or to indicate that it was ‘worth' his losing his life to defend Americans' constitutional rights." The district has declined to comment further. Social media campaigns have been used to punish offenders. They circulate screenshots, names, and phone numbers of employers and messages such as "Internet, do what you want." What follows is usually hundreds of angry and threatening messages. In interviews, several people who were targeted claimed that they received a flood of phone calls. One person recalled getting a phone call every minute of the day. At least two people said that the harassment was so severe they were planning to sell their home. Julie Strebe lost her job as a sheriff deputy in Salem Missouri after she posted comments about the shooting on Facebook, including: "Empathy isn't owed to oppressors." Later, she said that she viewed Kirk, who she described as an oppressor, because he used his platform to rally white conservative Christians around "racists, sexists, and hateful views." Strebe says she has installed five cameras in her home to monitor her and her family. She also fuels her vehicle only at night, so as not to disturb her neighbors. Salem is a small town, and moving would mean leaving extended families. But she says the city has become too hostile for her to stay. In an interview, she stated: "I don't think I can ever let down my guard." The Dent County Sheriff's Office declined to comment on Strebe's previous employer. Many Republican officials are in favor of the punitive campaigns. Some have Proposed extraordinary measures The U.S. government has banned those who are deemed to have revelled in Kirk's murder from using social media. The U.S. State Department revoked visas The agency has said that six foreigners are " "We celebrated the horrendous murder of Charlie Kirk." On September 15, Vice-President JD Vance called on his listeners in a special podcast episode of Kirk to punish those who celebrate Kirk's demise. Vance said, "Call out their employer, hell, even call them." Vance's Office pointed out comments made by the vice president earlier this year, in which he said: "Where I draw the lines is encouraging violence against politicians." Academics have compared this backlash with the "Red Scare," an anti-Communist purge which peaked in 1950, when government officials, union leaders, and Hollywood stars were accused of Communist connections. In a climate that was characterized by fear, thousands were investigated. This influenced American politics and culture over a period of a decade. Landon Storrs is a history professor at the University of Iowa. He said that there are "very troubling parallels". The crackdown has caused concern among several prominent Republicans, particularly after the Federal Communications Commission publicly pressured ABC to suspend Jimmy Kimmel's talk show following his monologue where he implied that Kirk Kirk's killer was a member of the political right. The police have not fully revealed the results of their investigation on Tyler Robinson or his motives. Robinson has not entered a guilty plea to the murder charges and other charges brought against him. Ted Cruz, a Republican senator, warned in his podcast that allowing the government to decide "what speech is acceptable and what is not" creates a dangerous precedent. He said that while it might be nice to silence voices such as Kimmel, "we will regret it when it is used to quiet down every conservative in America." His spokesperson declined any further comments. 'MASSIVE PURGE THESE EVIL PSYCHOS Kirk's critics were punished almost immediately. Right-wing influencers mobilized about 30 minutes after Trump announced that Kirk was dead. Chaya Raichik of the popular Libs of TikTok posted "THIS Is War" on X before highlighting a Massachusetts Teacher who wrote: "Just a Reminder, We're Not Offering Sympathy." By the end of the night, Libs of TikTok published or reposted 37 professional details, often accompanied with commentary like "absolutely vile," Your tax dollars pay her salaries," or "Would he teach your kids?" The next day, Libs from TikTok wrote: "It is actually frightening how many of these people are teachers and doctors." We need to purge these evil psychos, who are out to kill us all for having different political views. Libs of TikTok, in the week following the shooting, shared the profiles and names of at least 134 individuals accused of celebrating violence and mocking Kirk’s memory. They frequently tagged Trump administration officials, including Defense Secretary Pete Hegseth, and Attorney General Pam Bondi. The influencer has posted information about disciplinary measures taken against government employees. "BREAKING! This Marine was Fired," Libs of TikTok wrote on September 12th, a day after calling a Marine Corps Captain out. According to a screenshot shared by the influencer, the officer responded to Kirk's passing with an emoji showing clinking beer cups. The captain refused to comment on the post. Libs of TikTok reported similar disciplinary action against an Army Reserve officer, and an Army Colonel who commented on the death via social media. The Pentagon and Justice Department released The following are some statements that may be helpful: They condemned the celebrations surrounding Kirk's death, but didn't address questions regarding their relationship with Libs from TikTok. Scott Presler, a right-wing influencer, began to post screenshots of Kirk's comments. On September 10, he instructed his followers to take a screenshot of every single person who was celebrating. He told his followers on September 10: "You can bet that we will make these people infamous." Presler then shared on X posts about 70 people who commented on the murder, writing in one message, "Almost everyone we posted about - who celebrated Charlie Kirk’s assassination - has been fired." Presler did not respond to comments. The wave of shootings was a catharsis for many right-wingers who were outraged at the celebrations of the left. Matt Walsh, a right-wing podcaster who discussed the firings, told his listeners that it was good for them to be humiliated. They would have to live with their consequences the rest of the time. Walsh replied by email: "F**k off." Video blogger and recovery coach on YouTube JD Delay expresses glee He read out the names of those people who lost their jobs because of their remarks. "I'm having a good time!" He shouted and raised his hands, expressing excitement. Delay said that he believed in "accountability" and "consequences", and that "if publicly saying abhorrent words and getting fired from your work, I will laugh at you." Sometimes the punishment campaign veered from its original course. In at least five instances, people were wrongly blaming for the comments of others. Another case. A website that created a blacklist After receiving tens and thousands of dollars worth of cryptocurrency donations, the website "Expose Charlie's Killers" disappeared. The site's creators could not be identified or contacted for comment. Online influencers claimed to have received tips from people who wanted Kirk's critics fired. Was unable to verify these figures. Presler, Libs on TikTok, and other right-wing personalities have publicly urged tippers to be patient while they work through the large volume of submissions. Presler, who wrote "Can't stay up with you all" on X September 12, said: Post your submissions and I will go through them as soon as I can. The post received more than 2,700 responses a day later. It is possible that the number of people who were punished for criticizing Kirk was undercounted. Many government and private organizations have not publicly announced terminations or suspensions. The people who were punished represented at least 45 different states, and a wide range of professions, including doctors, nurses, and police officers, as well as soldiers, pilots, and other professionals. An Office Depot employee in Michigan was fired for refusing to print Kirk's memorial poster. A Starbucks barista in Ohio lost her job when she was accused of writing a message against Kirk on a mint tea cup. The barista and Office Depot employee's identities were not known. Office Depot and Kroger, the grocery chain that operates the Ohio Starbucks, condemned the anti Kirk incidents and said that the people involved are no longer employees. The requests to 21 federal agencies, including Homeland Security, Veterans Affairs, and the Defense Department, for the number or suspensions or dismissals related to the Kirk murder were either ignored, or declined. The Office of the Director of National Intelligence's deputy chief of staff responded to the inquiry on social media by accusing the office of trying "to generate sympathy for the ghouls that celebrate his death." EDUCATORS ARE ONE OF THE MAIN TARGETS Teachers, university administrators and academics were the most commonly punished for criticizing Kirk. In the days after the assassination more than 350 education workers, including 50 senior university administrators and academics, three high-school principals, two cheerleading coach and a theology teacher, were either fired, suspended, or investigated. It is possible that educators are at the forefront of the backlash due to a number of factors. Teachers, as the people tasked with molding young minds, have been portrayed by conservatives for years as ideologues whose goal is to push their students to the left. Teachers' status as taxpayer funded employees made any perceived political commentary particularly explosive. Six teachers have also spoken out in interviews and public statements. They cited their concern about the prevalence of gun violence in schools across the country, and their anger towards those like Kirk who advocated for widespread access to guns. Vaughn, a South Carolina kindergarten assistant said she was thinking about this when she posted Kirk's 2023 comment on Facebook, dismissing fatal shootings as a price to be paid to protect gun rights. She said that, like other teachers in the United States, she practiced active shooter drills regularly at her elementary school. She saw the fear on her 5-year-olds faces as they learned to hide from a armed gunman. She told a friend on Facebook that the day Kirk was killed, she had "no satisfaction" with the murder. She said: "Just heartbreak and hope for anyone and everyone affected by gun violence, and that one day enough will be enough." Later, she told a friend that her message was motivated by concern for children. Right-wing influencers circulated screenshots of the posts. The original posts may have been deleted, or made private. The Virginia teacher has been suspended, and the Texas internship terminated. Both could not be reached for comment. Some private employers cited a violation of their company values or safety issues as the reason for terminating employees. The corporations that were caught up in this backlash had a number of reasons for their actions. Delta Air Lines CEO Ed Bastian stated in a press release that some employees' statements were "starkly in contrast" with the company's core values and violated the social media policy. United Airlines said it has "zero tolerance" for any form of politically motivated violence. Some of the Kirk critics, who had taken pains to condemn this shooting, were also fired or suspended after Republican legislators got involved. Joshua Bregy shared a Facebook post by another user in the wake of Kirk Kirk's death. The post read: "Nobody should be shot down. Not a child, not an influential, not a political figure -- no one. Will I allow others to turn a flawed person whose words have caused significant damage into a martyr? Not a chance." Clemson Republicans reposted a part of the message in which they called him "ANOTHER LEFTIST PROFESSOR" and demanded his dismissal. Right-wing influencers amplified the post, and Republican state legislators threatened to defund Bregy's public university if he wasn't fired. Clemson first pledged, in a statement on September 12, to "stand firm on the principles the U.S. Constitution including the protection for free speech." Clemson fired Bregy after the South Carolina House Speaker and Senate President sent a letter demanding "immediate and appropriate action" from Clemson trustees. Bregy’s Facebook post "was blatantly unprofessional," and "seriously detrimental to the university," Clemson said. In a letter, Bregy was informed that he had been fired. Bregy is Clemson filed a reinstatement petition in federal court in South Carolina. Allen Chaney, his lawyer, said that the academic would still be in the same position "but for the aggressive and coercive tactics used by elected officials in South Carolina." Clemson's State House Speaker Murrell Smith, and Senate President Thomas Alexander have not responded to requests for comments. Clemson is yet to respond to Bregy’s lawsuit. At least six times, Republican officials threatened to deny taxpayer funding to universities and schools if Kirk's critics were not fired. Chaney, the legal director for the South Carolina chapter American Civil Liberties Union (ACLU), said that the threats of defunding Clemson, and other universities, crossed a constitutional boundary. He said that the government cannot police speech through third-party pressure. The Supreme Court ruled unanimously last year that government officials could not use their authority to "attempt coerce" third parties to punish or suppress speech they don't like. Paul McGreal, constitutional law professor and Kirk critic at Creighton University Law School (Nebraska), said that the threats of defunding schools who refuse to fire Kirk's critics are "stunning". Government officials threaten speakers with punishment if they don't agree with their views. They are violating the core First Amendment rights." KIRK HONORED AS '13TH DELIGIOUS' OF CHRIST Many Republicans have portrayed Kirk as a saintly champion for free speech since Kirk's murder. Evangelicals have compared him to Saint Stephen who is revered as Christianity’s first martyr. One Republican lawmaker said that Kirk would have been the "13th disciple" if he had lived in Biblical time. When he awarded Kirk the posthumous award, Trump compared him to ancient Greek philosopher Socrates and slain president Abraham Lincoln. The Presidential Medal of Freedom Kirk's legacy, however, is complex. Kirk gained notoriety for his debates with college students, as part of Turning Point. Kirk advocated criminalizing expressions - like pornography -- that conflicted with Christian beliefs. Kirk backed Trump when Black footballers began kneeling in protest against police brutality during the National Anthem. Later, the White House said that Trump was making a declaration and not a proposal. Kirk denigrated minorities repeatedly, calling transgenders an "abomination", warning against "prowling Blacks in cities", accusing wealthy Jews for inciting "hatred towards Whites", and declaring Islam to be incompatible with Western civilisation. He dismissed Pope Francis as being a Marxist. Kirk's hagiography upset some of those who spoke against him after his death. Kimberly Hunt said, "I felt compelled in an interview to remind people of who he was, and what he represented." Kimberly Hunt is a human resource worker from Arizona. She posted a video with the caption "Save your tears, not for him." Hunt, in the video, cited Kirk’s history of using derogatory words about transgenders and Muslims before saying that his children were "better off without him". Hunt was promptly fired. Her employer, a construction company in Arizona, has not responded to requests for comments. Hunt said she was aware that her words were harsh, but stood by them. She said that they were Kirk's position in a discussion last year, where he stated that if Kirk had a daughter of 10 years old who was impregnated by rape "the baby would have been delivered." Many voices have been silenced by the retaliation. Many people who made anti-Kirk remarks have now deleted or locked their account. In interviews, others said they were pushing back. Hunt has raised over $88,000 through a GoFundMe page titled "Doxxed - Fired - But Not Silenced". She plans to use the funds to continue her education, to become a content producer, and to keep calling people like Kirk out. She said, "It has definitely emboldened me." State and federal court documents show that at least 19 lawsuits were filed against employers who punished Kirk Critics. At least two plaintiffs were successful, including a South Dakota academic who was able to get his teaching job. Karen Leader, associate professor at Florida Atlantic University took to social media to protest the narrative that Kirk was "a shining example for youth, and a noncontroversial person who wanted an open and civil dialog," she said. Anyone who works in higher education understands that it is not as simple as that. She pointed out that Turning Point gained prominence because of its Professor Watchlist. This site encouraged students to report professors for holding "radical-left" views or supporting terrorism. Kirk described the Watchlist not as a blacklist, but rather a tool for raising awareness. In interviews, on social media and in public forums, those who were listed said that the Watchlist encouraged harassment and intimidation. A Turning Point reporter in 2023 was accused of assaulting a professor from Arizona who was on the Watchlist, after confronting him about his sexuality on camera and pushing him to the floor. The reporter was sentenced to a diversionary program after he admitted to harassing, assaulting and disorderly behavior. Turning Point's cameraman confessed to harassing the reporter in this case. Leader started posting Kirk's previous statements on X starting September 10. She deleted the post after admitting that she had made an error by accusing Kirk incorrectly of using an ethnic slur. She said that she stood by the rest of her posts, including one in which Kirk claimed that Black Americans had been "better" under Jim Crow. Leader stated, "I never encouraged violence in any way." "I was sharing the evidence." Jordan Chamberlain is a former employee of Florida Governor Ron DeSantis. She shared screenshots from several posts by Leader and asked her university if they approved the content. Libs from TikTok posted Leader's faculty photo. The president of the university announced that she was placed on administrative leave. The university's president announced that she had been placed on administrative leave. menacing messages followed The caller stated in a voicemail that was reviewed by us: "We are coming to get you." Karen Leader, you know where to find us. As soon as we know your address, we'll come to you. Leader hasn't left her apartment in years. According to a police document, she reported the threats made to Boca Raton Police, who referred the matter to campus police officers. Florida Atlantic University Police said that their report couldn't be released due to an ongoing criminal investigation. Florida Atlantic University confirmed that Leader was among three academics on leave while investigations were underway. The university declined to comment further. Chamberlain did not return an email asking for comment. Leader replied, "I don't really know if my career has ended or not." But my life has changed." Additional reporting by Phil Stewart in Washington, Jana Winter and Courtney Rozen, in Los Angeles, and Isaac Vargas, in Washington. Jason Szep, Linda So and Jason Szep edited the story.
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Boeing makes partial comeback on flydubai order
Boeing responded to the Dubai Airshow on Wednesday with a provisional purchase order from flydubai for 75 737 MAX jets. This comes a day after this long-time Boeing client placed an order for 150 A321neo planes, which are a direct competitor of Airbus. Flydubai announced in a press release that the order included options for 75 additional Boeing jets. The switch to Airbus was one of the main talking points at the Middle East's largest aviation event. It was held on the site of a brand new airport, which will become flydubai’s home in 2032. This week, it was reported that Boeing continued to negotiate a contract involving dozens jets in order to claw back a portion of the growth share of one of their most important 737 MAX users. Flydubai can choose later which of the three 737 MAX models it wants - MAX 8, MAX 9 and the yet-to-be-certified MAX 10. Ghaith al Ghaith, the CEO of Boeing, said in an earlier interview that the U.S. aircraft manufacturer would emerge stronger after its recent crisis. However, he noted that the Airbus planes were chosen for their additional range and size. (Ahmed Elimam, Federico Maccioni, Tim Hepher; Editing by Conor Humphries)
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Portuguese airline TAP's quarterly profit rises 14%, bookings robust
The net profit of Portuguese airline TAP in the third quarter rose by 14.4% compared to a year earlier, thanks to higher revenues, lower costs for interest and gains on currency, the company said. It also added that bookings were still strong throughout the rest of this year. Between July and September, the state-owned airline, which is currently being privatised in part, reported a profit net of 126.85 million euros. In a press release, it said that bookings for the fourth quarter "remain robust and slightly higher than last year" but warned about persistent competition in key markets. The quarter's revenue increased by 2.7%, to 1.3 billion Euros. Passenger numbers rose 4.2% to approximately 4.8 million in "one of most busy summers since recent years". However, the period was impacted by handling disruptions as well as border-control bottlenecks across Europe and Portugal. Operating costs increased 4.8%, to 1.1 billion Euros. This was due to an increase of 5% in employee costs and an 11% in traffic costs. TAP's earnings before taxes, depreciation, and amortization (EBITDA), a measure for profitability, fell by 4.4%, to 332.8 millions euros. Its EBITDA margin, which is a measure for profitability, decreased from 27% to 25.1% a year earlier. Portugal has relaunched its long-delayed TAP privatisation in July. It aims to sell a 44.9% share, with an additional 5% reserved for the staff. Lufthansa and British Airways' owner IAG, as well as Air France-KLM, have expressed interest.
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Iran releases the tanker Talara and all 21 crew members are safe
Iran released a fuel tanker on a Wednesday, five days following its seizure in the Gulf. This was its first action of this kind since it curtailed its regional military activities after Israeli and U.S. airstrikes in 2014. Columbia Shipmanagement, the manager of the vessel, said that all 21 crew members aboard the fuel product tanker Talara flying the Marshall Islands flag were safe. Talara was en route from the United Arab Emirates to Singapore when it got intercepted on Friday by Iran's Revolutionary Guards. The manager lost contact with the vessel that was loaded with high sulphur gasoil approximately 20 nautical mile off the coast from the UAE town Khor Fakkan. Iran confirmed on Saturday initial reports that it had taken a tanker for alleged violations, and diverted it to Iranian territorial waters. Columbia Shipmanagement announced on Wednesday that the vessel was released on November 19 at 0442 local time (0112 GMT). The company added that no accusations had been leveled against the vessel, its crew, or its managers and owners. The statement read: "We have notified their families and the vessel can now resume normal operations." Iran has taken over tankers before in the Gulf. However, it had not done this since it reduced its military activities in the region following the 12 day Israeli strike in June. The United States also joined in. Reporting by Jonathan Saul, writing by Renee Maltezou, editing by Peter Graff
Spain's eDreams shares plummet over 30% after the company cuts its earnings guidance
The shares of eDreams Odigeo dropped more than 30% Wednesday, a day that could be their worst since October 2014. This was after the Spanish travel company cut its earnings forecasts for 2026-2027 the previous night. The Barcelona-based firm revised its core earnings to 155 million euro ($179 million) in the fiscal year ending March 2026, and 115 millions euros in the fiscal 2027. This was due to slower growth of its prime subscriber base and adoption of flexible payment methods.
Sergio Avila is a senior analyst with brokerage firm IG. He said that investors are now focusing on the growth of subscribers. If this slowdown can be viewed as a normalization following strong growth, then the stock may recover. If it is a sign of saturation, the stock will be under more pressure," he said.
In 2017, the company launched its subscription-based business model, which was pivotal in its recovery from the pandemic and its profitability. Investors are concerned about revenue challenges due to a decline in subscription growth, from 20% to only 18%.
eDreams, when contacted by eDreams, declined to provide any further comment on the issue.
Avila believes that the biggest risk to eDreams' business model is market expectations. Any sign of a decrease in subscriptions, pressure to margins, or a drop in targets could trigger aggressive sales.
He said: "eDreams ODIGEO will appeal to investors who are willing to tolerate volatility and have a long-term horizon. It is not for people who just want a good night's sleep while they watch the price each day."
(source: Reuters)