Latest News
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Alaska Air offers $500 million in debt as fuel prices rise due to the Iran War
Alaska Air announced on Wednesday that it would raise $500 million via a debt offering. The airline is looking to bolster liquidity in the face of a rise in jet fuel prices due to war. The carrier announced that it would issue debt securities with a maturity date of 2031. After Iran closed the Strait of Hormuz, airlines around the world cut capacity and raised baggage fees. They also added fuel surcharges in order to combat the skyrocketing cost of fuel. Since the U.S. and Israeli strikes against Iran on February 28, jet fuel prices have almost doubled. Financial strains are more severe for airlines such as Alaska Air, which is based in the U.S. West Coast. There, pipeline capacity and refinery capacity remain limited. This forces airlines to depend on oil imports. Last month, the airline announced that it would increase its fuel sourcing from Singapore from 20% to between 30% and 40% in time. American Airlines and JetBlue Airways, two rivals, also took advantage of the debt market in the last month to combat the rising costs resulting from the Iran War. American raised $1.14 Billion, JetBlue $500 Million. (Reporting by Nandan Mandayam in Bengaluru; Editing by Diti Pujara)
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Airport operator: Summer seat availability in Cyprus will not fall more than 5%.
Hermes Airports, Cyprus' airport operator, said on Wednesday that the number of seats available to Cyprus this summer would be "no more than" 5%. The Iran war has dampened the outlook for tourism in the region. Since the U.S. launched the war against Iran, in late February, the number of tourists to the island has decreased. On March 2, a single drone attack hit a British military base in Cyprus. Hermes, the company that operates Larnaca and Paphos airports, has said that airlines have reduced their schedules by about 600,000. Passenger arrivals will also be down around 9% or approximately 450,000 passengers. It said that the majority of adjustments were made to lower flight frequencies rather than cancelling routes, and that there was no impact on schedules because of fuel shortage issues. The arrivals in the'recent weeks' have shown signs of improvement, with passenger loads on aircraft increasing to between 80% and 85% from April 20, compared to averaging 76.8% earlier in April. Hermes reported that key?tourism markets such as?Britain, Poland and the United States were experiencing load factors above 90%.
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Uber predicts strong bookings for the second quarter despite Middle East woes
Uber Technologies announced Wednesday that it would exceed Wall Street's expectations for the second quarter, despite the Middle East conflict. The shares of the San Francisco based company increased by about 8% during premarket trading. The company's strong forecast shows that its strategy to keep prices stable while moving into higher-margin fields such as the platform for business is paying off. It helps it navigate rising fuel costs and geopolitical tensions. Growth has also been fueled by strong delivery demand on international markets such as Australia and the expansion of new geographies, like Denmark. Uber expects gross bookings between $56.25 and $57.75 for the second quarter of 2016, which is above the analysts' average estimate?of $56.07, according to LSEG data. The Middle East conflict is responsible for a 60 basis point drag. The company forecasts a?second quarter adjusted earnings per share between 78 and 82 cents. This is slightly higher than the 79 cents estimate. The first-quarter gross bookings exceeded expectations by $52.84 billion. Uber has said that its increasing adoption of artificial-intelligence tools helps moderate the pace at which it hires by improving productivity in its operations. Uber is pushing to expand its platform beyond ride-hailing, into food delivery, groceries, travel, local commerce and more recently, hotel bookings. Uber has been focusing on its Uber One membership, which has now surpassed 50,000,000 users and accounts for approximately half of its gross bookings. The March quarter revenue was $13.2 billion. This is below the $13.62 billion estimate due to the Middle East conflict, severe winter storms and higher gasoline prices. Even so, the adjusted profit per share in the first quarter of 72 cents beat expectations of 70 cents. The ride-hailing sector missed the estimates by $6.8 billion in the first quarter. Sales from the delivery and freight segments, however, exceeded expectations. The latter division returned to growth after nearly two years. Uber has opted for a partnership approach in the development of 'autonomous vehicles. It is working with over 20 companies to integrate robotaxis onto its platform, rather than developing it itself. As it expands its partnerships with AV providers, the company expects to provide autonomous vehicle trips as many as 15 different cities worldwide by 2026. (Reporting and editing by Arun K. Koyyur in Bengaluru)
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Uber predicts strong bookings for the second quarter despite Middle East woes
Uber Technologies announced Wednesday that it had exceeded Wall Street's expectations for second-quarter bookings due to strong demand for its ride-hailing, delivery and e-commerce services. The company's strong forecast shows that its strategy to keep prices stable while moving into areas with higher margins, such as the platform for business, is paying off. It helps it navigate rising fuel costs and geopolitical tensions. Growth has also been driven by strong delivery demand from international markets such as Australia and the expansion of new geographies, like Denmark. Uber expects gross bookings between $56.25 and $57.75 Billion for the June quarter. This is above analysts' average estimates of $56.07 Billion, according to LSEG data. The Middle East conflict is responsible for a 60 basis point drop in the index. The company forecasts second-quarter adjusted earnings of 78 to 82 cents per share, which is slightly higher than the 79 cents estimate. The gross bookings for the first quarter totaled $53.7 Billion, which exceeded expectations of $52.84 Billion. Uber said that its increasing adoption of artificial intelligence tools helps to moderate the pace of its hiring by improving productivity throughout its operations. Uber is pushing to expand its platform beyond ride-hailing, encompassing food delivery, groceries, travel, and local commerce. It has also recently entered the hotel booking market. Uber has been focusing on expanding its Uber One membership, which now has over 50 million members and accounts for about half of the company's gross bookings. The March quarter revenue was $13.2 billion. This is below the $13.62 billion estimate due to the severe winter storms in the U.S. and the Middle East conflict, as well as higher gasoline prices. Even so, the adjusted profit per share of 72 cents in the first three months beat expectations of 70 cents. The first quarter revenue of $6.8bn for the ride-hailing sector missed the estimates?of $7.11bn. Sales from the delivery and freight segments exceeded expectations. The latter division returned to growth after nearly two years. Uber has a partnership-led strategy for autonomous vehicles. It works with more than 20 companies in order to integrate robotaxis onto its platform, rather than building the technology themselves. As it expands its partnerships with AV providers, the company expects to provide autonomous vehicle trips as many as 15 different cities worldwide by 2026. (Reporting and editing by Arun K. Koyyur in Bengaluru)
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Bild reports that a German woman aboard a ship infected with hantavirus will be tested by s German hospital.
The Bild newspaper reported that the woman did not show any symptoms. Bild reported that the passenger was in contact with another German woman who died on board. A German newspaper reported that a high-risk "patient transport" unit of the Duesseldorf fire brigade had left for Amsterdam International Airport to pick up the woman. The hospital has not yet commented on the report. Oceanwide Expeditions, the ship operator, said that a planned transfer of 3?passengers to specialized aircraft from the cruise vessel was scheduled for Wednesday morning Cape Verde time. Since the outbreak began in early April, a Dutch couple has also?died. A British national was evacuated from the ship and is currently in intensive care in South Africa.
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What is the hantavirus which killed three passengers on a cruise ship?
In an outbreak of the hantavirus on a luxury ship, three people died. Five other confirmed or suspected cases were also reported. What is the exact definition of a hantavirus and what are its?implications for public health? What is it? Hantaviruses can cause disease in humans and are transmitted by rodents. World Health Organization estimates that there are between 10,000 and 100,000 cases of human infection worldwide each year. The severity can vary by strain. How is the virus spread? Hantavirus is primarily spread by rodents. It infects people through contact with their urine, droppings or saliva, and often becomes airborne during cleaning. It is spread less commonly through contaminated surfaces. The Andes strain, which is primarily found in Argentina and Chile, is the only variant known to spread via close, prolonged contact between humans. The WHO confirmed Wednesday that the outbreak on the cruise ship was the Andes Hantavirus. What are the symptoms of infection? Hantaviruses are found in many parts of the globe and cause different symptoms. Some cause no symptoms at all. According to the WHO, symptoms usually begin between one and eight weeks following exposure. They may include fever, muscle pains and gastrointestinal problems. Hantaviruses are known to cause haemorrhagic syndrome with renal syndrome in Europe and Asia. This condition primarily affects blood vessels and kidneys. In America, hantavirus can cause cardiopulmonary syndrome. This condition progresses rapidly and causes fluid to accumulate in the lungs, along with other heart problems. WHO reports that the death rate from hantavirus is up to 50%. This compares to the 1-15% of infections?commonly found in Asia and Europe. Can HANTAVIRUS infection be treated? As there is no specific treatment, the current approach focuses on supportive measures, such as rest and fluids. Patients may need breathing assistance, such as a ventilator. The prevention of rodents is based on measures such as keeping surfaces and areas clean. Contact tracing during outbreaks can improve outcomes by allowing others who may have been exposed to the virus to receive hospital treatment earlier. What are the risks to the general public? WHO states that the outbreak on cruise ships is unusual, and experts from several countries are investigating it. However, the risk for the public is low. WHO's Americas branch warned in December that hantavirus infection was on the rise in the region. This is especially true in Bolivia and Paraguay. Brazil and Argentina, which have the most cases, are also seeing an increase in lethality. Argentina reported 21 deaths in the last year. This is a 32% mortality rate among 66 people who contracted hantavirus respiratory syndrome. The average death rate over the previous four years was 15%.
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US report: Fuel supply cut off in China Eastern crash 2022
The U.S. National Transportation Safety Board released data last week that showed the fuel supply was cut off to both engines of a China Eastern Airlines jet?before it crashed into a hillside in southern?China, in March 2022. All 132 passengers on board were killed. The data was released by NTSB as a response to a Freedom of Information request. It came from the flight data recorder. The fuel switches on both engines were found to have been moved from their run position into the cutoff position while the aircraft was cruising at 29000 feet. The NTSB reported that engine speeds dropped after the fuel switch was moved. Fuel switches are physical controls that regulate fuel flow into the engines. A pilot must lift the switch before changing it from run mode to cutoff. The Boeing 737-800 crash, which was operated as China Eastern Flight MU5735 in China, was the deadliest air disaster China has seen in decades. Chinese regulators have not published a report detailing their findings and they haven't given an update on their investigation in more than two year. At a Wednesday press conference, the Civil Aviation Administration of China (CAAC) as well as China Eastern Airlines declined to comment on the U.S. report. One of the black boxes recovered from the wreckage is the?flight recorder. The NTSB lab in Washington was contacted to analyze the data because Boeing is an American manufacturer. (Reporting and editing by Raju Gopikrishnan; Case Hall is the reporter)
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Russia's seaborne diesel exports rise in April despite drone attacks, data shows
LSEG and market sources reported that Russia's seaborne gasoil and diesel exports increased by 8% in April from March. This is only a slight decrease from the 3.3 million metric tonnes?exported a year earlier. Exports rose despite repeated Ukrainian attacks on ports and refineries, weather disruptions and a surge in global demand. Primorsk, a Baltic port, was attacked in late March and earlyApril. The Black Sea port of Tuapse was also attacked, and a nearby Tuapse Refinery owned by Rosneft had to stop operations after a Ukrainian drone attack on April 16. Sources said that the ultra-low-sulphur Diesel shipments from Primorsk - Russia's largest?outlet for exporting diesel - dropped last month by over 17% compared to March. Shipping data revealed that among diesel export destinations, Turkey remained the dominant buyer, with Turkish deliveries surging by over a third in April to reach 1.23 million tonnes. Tankers with a combined total of 340,000 tons diesel are yet to declare the ports where they will discharge their fuel. LSEG data showed that vessels carrying nearly 240,000 tonnes of diesel are drifting awaiting instructions. A second group of vessels, carrying approximately 500,000 tons Russian diesel, is headed to the?anchorages in Port Said (Egypt) and Limassol (Cyprus) for ship-to -ship transfers. These cargoes' final destinations are still unknown. Market sources said that ship-to-ship activities have increased since January due to tightening Western sanctions and decreasing tanker availability. According to shipping data, Morocco, Ghana, and Syria were also among the top importers of Russian Diesel cargoes during April.
Ship-tracking data shows that a second ADNOC LNG Tanker crossed the Strait of Hormuz during Iran War, showing a second ADNOC tanker crossing the Strait of Hormuz.
Ship-tracking data?showed that a second liquefied gas tanker managed by Abu Dhabi's National?Oil?Company?(ADNOC) had crossed the Strait of Hormuz and appeared to be near Indonesia.
The first LNG tanker managed by ADNOC to cross Hormuz since the conflict began was reported on April 27, 'that LNG tanker Mubaraz crossed Hormuz.
ADNOC didn't immediately respond to a comment request.
According to Orbify's LNG vessel tracking platform, the 136,357 cubic meter tanker Mraweh chartered by ADNOC GAS was loaded on Wednesday off Indonesia, indicating that it has already passed through the strait after going dark on April 19 - without AIS signals.
Ship-tracking data revealed that ships around the Gulf were using evasive tactics such as not transmitting their location or sending false identification numbers in order to avoid being "targeted" or detained.
"Mraweh", Al Hamra",?Umm Al 'Ashtan" and Marigold all went into anchorage near Fujairah. They have also shown a similar AIS disconnect pattern. ADNOC's?Mubaraz transited the Strait Of Hormuz earlier this month on its way to Asia. Orbify executive Kyle Hewitt said, "I would expect these vessels to follow the same route."
(source: Reuters)