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AJet, a Turkish airline, will begin flights to Damascus
Turkish Airlines subsidiary AJet announced that it would begin flights to Damascus International Airport in mid-June from Istanbul and Ankara. AJet announced in a press release that flights will begin on 16 June from the Sabiha Gokcen Airport in Istanbul. The flights will begin with four weekly flights, before becoming daily in July. The airline also announced that flights to Damascus will begin on June 17 at three times per week from Ankara, Turkey's capital. Turkish Airlines resumed its flights to Damascus after a 13 year suspension in January. According to the Syrian state news agency SANA, starting on June 10, Syria's flag airline Syrian Air will begin direct flights between Damascus and Istanbul. Turkey, an ally of Damascus' new government, has promised to help rebuild the country. The Turkish Transport Minister said that Ankara had already assisted in the maintenance and improvement of Syria's airfields. Reporting by Ceyda Kaglayan, Additional reporting by Menna al-Din from Cairo; Writing and editing by Ezgi Erkoyun.
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Airbus' procurement chief moves to India, but no successor has been named
According to a memo that was seen by the Observer, Airbus' top procurement executive, Juergen Westermeier has been named to lead its operations in India and South Asia as of September 1. The memo stated that his successor "is subject to further notice". Airbus has declined to comment about internal promotions. The European planemaker is struggling to keep up with production and delivery schedules of passenger jets, while also trying to stabilize a global supply network that has been hit by labour shortages as well as a lack of experience following the COVID-19 epidemic. Airbus reported that its deliveries were down 4% in May, and 5% for the entire year. The company faces a difficult task to meet its goal of increasing delivery by 7%, to 820 aircraft, for the whole of 2025. Rob Morris, head of Cirium Ascend's consultancy, announced on LinkedIn that the Airbus A320neo was behind Boeing's 737 MAX production in May, for the first since August 2019. Airbus has declined to comment on the monthly production. It blamed the production shortfalls, especially in engines and certain aerostructures, on a weak supply chain. Westermeier is the second person to be moved from a critical engineering or industrial role in the last few weeks, after Sabine Klauke, the head of the group's technology division was shifted to focus on digital manufacturing and design systems. According to a 2021 letter, Westermeier pressed suppliers to improve their quality and to stock more. He led an initiative last year to unify standards. Some suppliers say a different focus is required to encourage the supply chain to support higher output. According to a person familiar with the company, Westermeier was not moved by the recent supply-chain situation which had already begun to stabilize. Guillaume Faury, the CEO of the company, praised Westermeier's performance in a memo that was seen by the reporter. Westermeier succeeds Remi Maillard, who was appointed head of technology by Airbus last month. Airbus is studying the building blocks of a future replacement for its most popular A320neo aircraft. (Reporting from Tim Hepher. Jane Merriman, Ni Williams and Ni Merriman edited the article.
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US FAA is not considering lifting the Boeing 737 MAX Production Cap
Acting Federal Aviation Administration head said he was not considering lifting a cap on Boeing 737 MAX production of 38 planes a month imposed in January 2024 after a mid-air accident involving a brand new Alaska Airlines Boeing aircraft missing four bolts. After a hearing in the U.S. House, Acting FAA Administrator Chris Rocheleau said to reporters: "Not right now." He said he wasn't discussing a change in the FAA's policy to inspect all Boeing 737 MAXs or 787 Dreamliners prior to issuing individual airworthiness certificates. Boeing has not yet commented. FAA extended for three years last week, in a first-reported decision by, a program allowing Boeing to carry out certain tasks on behalf of the agency like inspections. The FAA said that Boeing had improved. Boeing CEO Kelly Ortberg stated last week that the company is "pretty sure" it can increase its production of best-selling 737 MAX aircraft to 42 per month. He said that after the FAA has approved Boeing's increase in output to 42 aircraft per month, "we have subsequent rate increases" in our plan. These will be typically in increments five aircraft each month and spaced at least six-months apart. Boeing requested five years for the Organization Designation Authorization, but the agency decided to extend it to three instead of the five Boeing asked for in order to make sure the planemaker made "required improvement." Congress adopted sweeping reforms on December 2020 regarding how the FAA certifies aircraft after two deadly 737 MAX crashes that killed 346 and caused the plane to be grounded for 20 months. According to the Office of Inspector General, FAA officials sought in 2023 to allow Boeing’s ODA resume issuing final certificates of airworthiness for 737s and 787s. The Alaska mid-air crisis occurred before senior FAA officials could approve this request. (Reporting and editing by Franklin Paul, Marguerita Choy, and David Shepardson)
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Cobalt Holdings cancels London IPO plans
Cobalt Holdings, a metals investor, announced on Wednesday it would not be proceeding with its planned IPO on the London Stock Exchange. This ended hopes of what could have been a major listing in the UK's capital since early-2024. The company refused to give any reasons as to why it had decided not list its shares, despite the fact that they were priced at $2.56 each. One person who was familiar with the process stated that it was stopped because there wasn't enough investor demand. The person spoke under condition of anonymity as they were not authorized by the government to speak publicly. London's biggest market debut since Air Astana was about $230 Million Listing In February 2024, London's struggle to attract new listings prompted reforms last summer to make it more competitive after Brexit with New York. In recent years, several London-listed companies have moved their primary listing from London to New York. They also chose Europe for IPOs where they think they can get better valuations. Unilever selected Amsterdam for the listing of its ice-cream business Ben & Jerry's, while fast fashion retailer Shein chose Hong Kong as its IPO. Glencore and Anchorage Structured Commodities Advisor affiliates had agreed to purchase about 20,5% of the shares offered by Cobalt in its IPO, when it was announced at first in May. Cobalt had planned to use the proceeds of its IPO to purchase 6,000 metric tonnes of cobalt metal for batteries, valued at around $200 million.
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Enterprise Products reports that the US is set to refuse export of three ethane shipments to China
Enterprise Products Partners announced on Wednesday that it had received notification from the U.S. Commerce Department of its intention to reject their requests to export to China three cargoes totaling 2.2 million barrels. After Donald Trump, the U.S. president, imposed tariffs on China in early April, a trade war has been ongoing between the U.S. Enterprise, a pipeline and terminal operator, said last week its ethane-and-butane exports may be affected by the Department of Commerce's requirement that Enterprise apply for a licence to export to China. The company handles a lot of ethane, butane, and propane through its terminals. According to a filing by Enterprise, the Bureau of Industry and Security of the Department of Commerce informed Enterprise two weeks ago in a letter that exports of butane and ethane pose an unacceptable threat of being used for military purposes in China. Enterprise stated that it has up until 20 days to reply to the BIS notice regarding the denied export cargoes. This includes any comments or rebuttals. The BIS will not be able to change the decision unless the company receives a new notification by the BIS within 45 days of the initial notification. The BIS didn't immediately respond to an inquiry for comment. The U.S. ordered last week that a wide range of companies stop shipping goods to China, including butane and ethane, without a licence and revoked the licenses granted to certain suppliers. The liquids ethane and butane that are separated from natural gas can be used for making plastics, chemicals, and heating. The Chinese use ethane to feed their petrochemical plants because it's cheaper than naphtha. Meanwhile, U.S. producers of oil and gas need China to purchase their natural gas liquids since the domestic supply is greater than demand. (Reporting and editing by Nia William in Houston, Arathy McCartney and Georgina McCartney)
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India instructs Turkish Airlines to comply after safety lapses
The Indian civil aviation ministry announced on Wednesday that it had ordered Turkish Airlines to comply with all aviation regulations after lapses were found in the carrier's passenger flights and cargo flights. From May 29 to June 2 the Directorate General of Civil Aviation inspected Turkish Airlines passenger and cargo flights in four Indian cities. The aviation ministry released a statement. DGCA approval is required for explosives to be transported across India. The ministry stated that the goods had not been declared. Turkish Airlines didn't immediately respond to an inquiry for comment. IndiGo, the Indian airline, announced last week that it would end its lease agreement with Turkish Airlines on August 31. After Turkey supported Pakistan in the recent conflict, the agreement was criticized in India. The aviation ministry stated that "further follow-up checks will be carried out as needed to ensure continuous safety supervision." The DGCA carried out inspections in Delhi, Hyderabad, Chennai and Bengaluru.
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Ukraine releases new footage showing drone attack on Russian strategic Bombers
Ukraine released new video footage of its major strike on four Russian air bases on Wednesday. The footage shows attack drones destroying numerous Russian strategic bombers, and landing on 2 airborne early warning control planes. Ukrainian authorities claim that Sunday's attack using 117 drones on the airfields resulted in 41 military aircraft being damaged. This number has not been independently verified. Satellite images show that several bombers have been destroyed or badly damaged in one base. The Security Service of Ukraine released new drone footage showing drones landing on dome antennae of the two A-50 military spy aircraft, of which only a few are in the Russian fleet. The drones were not shown detonating in the video. The locations of the four air bases shown in the video, including Ivanovo Airbase where the A-50s are stationed, could be independently verified. Could not independently verify the date of filming. In a press release, the SBU stated that the aircraft hit included the A-50 strategic bomber as well as the Tu-95, Tu-22M3 supersonic bomber and Tu-160 strategic bombardier. Several of these military aircraft are part the Russian airborne nuclear deterrent. They can also be equipped with cruise missiles, which Russia has been using to bombard targets in Ukraine ever since it invaded on a full scale in February 2022. The SBU stated that "a significant part is irretrievably damaged, and it will take years to rebuild some damaged aircraft." According to the Russian Defence Ministry, Ukraine attacked airfields located in Murmansk and Irkutsk regions, Ivanovo and Ryazan, and Amur. The attacks were repulsed in these last three locations. It said that several aircraft caught fire in the Murmansk-Irkutsk region. On Wednesday, Russian officials claimed that the West was involved in the Ukrainian attacks inside Russia. They also said that the military options are "on the table". The attack has boosted Ukrainian morale following months of relentless Russian battlefield pressure, and numerous powerful drone and missile strikes by Moscow forces. In his remarks to senior Russian officials, Vladimir Putin did not mention the airbase attacks in his condemnation of other Ukrainian attacks against Russian targets at the weekend. Influential Russian military bloggers, however, have accused the Russian authorities, particularly the Aerospace Command, of complacency and negligence for allowing nuclear-capable aircraft to be targeted. Volodymyr Zelenskiy, the Ukrainian president, said that he had decorated several SBU officers in recognition of Sunday's operations. (Reporting and editing by Gareth Jones, Aleksandar Vaovic, Tom Balmforth and Anastasiia Menko)
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US Army helicopters at Pentagon still suspended after close call
The Federal Aviation Administration's acting chief said that U.S. Army helicopter flight around the Pentagon remains suspended. Two passenger airline flights had to abort their landings at Reagan Washington National Airport on May 1, due to a Black Hawk helicopter nearby. The acting FAA administrator Chris Rocheleau said at a U.S. House of Representatives hearing that, as the agency revisits its letter of agreement with military, it has barred the Army's training flights or priority transport flights. Rocheleau stated that "they are not flying at this time." "We have shut them down until we are comfortable with what we call the new rules of road." Last month, the Army informed the Associated Press that the military air traffic controllers had lost contact with the helicopter as it approached the Pentagon during the flight on May 1, which disrupted two passenger planes. Due to a nearby Army helicopter, Delta Air Lines Flights 1671 and 5825 (an Embraer 170 which had departed Boston) were forced to do go-arounds at 2:30 p.m. Last month, the FAA announced that since March 2022, a hotline between the Pentagon and air traffic control at Reagan is inoperable. A Black Hawk helicopter and an American Airlines passenger plane collided on January 29 near Reagan, killing at least 67 people. After the accident, the U.S. Army announced on May 5, that helicopter flights near the Pentagon would be suspended. Ted Cruz, Texas's Senate Commerce Committee chair, said last month the FAA was preparing to suspend its letter of agreement with Army. This agreement allows the Army to fly without needing to request clearance each time. Bill Berkrot and David Shepardson edited the article.
Maguire: Europe's gas price could be dragged down by spring shoulder
The European benchmark gas price has been falling since early February after reaching a two-year peak. This trend may continue as we approach the historically weakest period of gas-fired electricity demand.
Gas prices were strong in the early part of this year, mainly due to winter heating demand. This was coupled with a lower-than-normal production of wind power. As a result, utilities had to balance their system needs by increasing gas-fired generation.
LSEG data show that Europe's gas-fired electric production has risen to its highest level since 2021 in the first two months in 2025. It is also above the year-earlier levels on key markets.
The gas used for power generation usually drops sharply after the end of March as the heating demand falls and the combined power supply from solar and wind farm reaches its annual peak in the spring shoulder season.
Gas prices in Europe could continue to fall if this pattern repeats itself again in 2025. This is despite the fact that they have already dropped by over a quarter since their peak of 2025.
DOWNTURN
Europe's gas-fired electricity generation typically drops during the first quarter of the year, as the heating demand decreases.
The April-June quarter is the lowest quarter of the year from 2015 to 2024 for the production of gas-fired electric power. It has dropped by 25% on average compared to the January-March quarter.
The second quarter 2024 gas generation total was 31 percent less than the previous quarter. A similar decline in gas usage could occur again in 2025, if mild weather conditions slow down heating demand at the end of the month.
The latest weather predictions from LSEG show that temperatures above normal are expected in most of continental Europe starting March 20. This could have an impact on heating demand as early as this week.
INDUSTRIAL WORRIES
Chemical plants and cement manufacturers are among the largest gas consumers in Europe outside of the power sector.
The lingering economic downturn has affected much of Europe's industrial production. In Germany, the output of steel, chemicals, fertilizers and plastics was near the multi-year low.
Italy's industrial activity increased in January compared to the previous month, but was still below the total for the same period last year due to the lingering weakness of its manufacturing sector.
PRICE PROBLEMS
Power prices in Europe are a major factor behind the industrial downturns that Europe is experiencing. They have risen sharply since 2025, and they're now significantly above their levels from last year.
According to LSEG, the average wholesale power price in Germany – Europe's biggest industrial product manufacturer – was 127 euros per Megawatt Hour (MWh) for the first three quarters of 2025.
This average is 49 percent higher than the 2024 average, which means major energy consumers will continue to be faced with severe costs challenges in 2019.
The Netherlands, Italy France and Poland also have power prices that are significantly higher than the previous year.
Gas prices have risen in many regions, and gas is responsible for a quarter or more of Europe's power supply.
Gas prices could start to fall as electricity use decreases, and regional power costs may follow suit. This would give power consumers some breathing space.
Gas storage operators will be in competition with industrial gas users, as they are responsible for replenishing regional stocks following the sharp drawdown of Europe's gas inventory so far this year.
Gas storage companies typically start building up their stockpiles from late spring onwards, spreading out their purchases over the months with the lowest demand. This allows them to replenish stocks by winter.
Gas buyers will need to buy at least 100 cargoes more this year than they did in previous years in order to compensate for the sharp drop in inventory in 2025. This could cause them not purchase replenishment earlier in the year.
Currently, European nations are discussing making the region’s gas storage goals flexible after disputes over binding target that threatened to drive up the costs of gas stockspiles in the region.
Members are considering extending the time period from October 1 until December.
This would allow tank operators to better time their purchases and reduce orders in the storage sector.
If the slower pace of storage orders coincides with a reduced demand for gas from the power sector then regional gas prices may fall significantly before the restocking order likely stabilizes the market during the summer. These are the opinions of a market analyst at.
(source: Reuters)