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US talks to rebuild Washington Dulles Airport intensify
An official revealed that the Trump administration is in talks to reach an agreement on a multi-billion dollar rebuilding of Washington 'Dulles International Airport. Steve Bradbury, Deputy Transportation Secretary, said that the Department and the Authority running the Airport are in ongoing discussions to find a solution. Sources say that President Donald Trump met with United Airlines CEO Scott Kirby on February 25 to discuss the future of Dulles. His company is responsible for nearly 70% Dulles traffic, according to sources. Bradbury stated that "those discussions are still ongoing." Bradbury said: "Those discussions are continuing." United declined to comment. Trump stated in December that he had a new design for Dulles. He said, "I plan to rebuild Dulles because it's a bad airport." It should be an amazing airport... "They have a beautiful building but a terrible airport." The critics say that 'Dulles needs modernization, and they complain about the slow mobile lounge vehicles which transport passengers along the tarmac. USDOT criticised in December the "jet fuel smell" in the concourses and the "paltry number" of gates at the main terminal. Sources said that the airport, which is run by the Metropolitan Washington Airports Authority on a 50-year leased approved by Congress, will hold additional meetings with United and USDOT regarding expansion plans. Bradbury said MWAA has been working with United for years to develop a master plan of expansion for Dulles. Bradbury stated that the president and the administration felt "that's wonderful, but it's just not enough and not fast enough". Officials said that the Trump administration was considering plans to cost billions of dollars more. The airport, which is located about 25 miles (40 km) from the U.S. capital and opened in 1962, will get a new 435,000-square-foot (40,412-square-meter), 14-gate concourse this fall ?serving United customers. Dulles handled 29 million passengers in 2025. This is a 6.4% increase. The terminal building of the airport was designed by Eero Sárinen, a Finnish architect. It is a unique structure with a roof that slopes upwards on both sides. USDOT sought proposals in December to completely re-design the airport. This could include tearing down its 'historic main terminal. In February, it was reported that Trump had offered to release his funding hold for a 16 billion dollar tunnel under the Hudson River in New York in exchange for Democratic senator Chuck Schumer's support for renaming Dulles Station and New York Penn Station in Trump's honor.
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US airport security queues worsen as screeners face a missed paycheck
As the spring break travel season ramps up, airlines are becoming more concerned about the?absences of airport screeners. Houston Hobby Airport reported on Monday that lines at the standard checkpoints were averaging three hours by 2 p.m. In the past two days, longer than usual lines have been reported at several U.S. airports. Officials advised passengers to arrive three to four hours prior to their flight. On February 13, funding for the Department of Homeland Security lapsed after Congress failed reach an agreement on immigration enforcement reforms requested by Democrats. This halted funding for several government departments, including the Transportation Security Administration. About 50,000 TSA airport screeners were forced to work without pay. Airlines are worried. Chris Sununu is the CEO of Airlines for America. He said that Congress and the Administration must act urgently to find a solution which?reopens DHS, and ends this shut down. "America's Transportation Security workforce is too valuable to be used for political leverage." The spring travel season is expected to be a record one for airlines, with 171 millions passengers flying, an increase of 4% compared to the same period last year. Sununu stated that Spring break travel will be a rush as TSA workers are not paid for the first time on Friday. Republicans used social media to blame Democrats for the delays and urged them to approve funding. Sheldon Whitehouse said, 'Democrats have offered to fund TSA, but they want reforms in Immigration and Customs Enforcement. "No conditions. ?Republicans refused. Whitehouse stated that they 'want to take the hostage in order to extract more ICE funds. On Monday, passengers at Houston's Central Concourse were once again crammed and had to wait outside in order to check their bags. Karlee Schmidt (23), said that she had attempted to fly with friends to Florida for a vacation on Sunday. After waiting for three hours in the security line, Schmidt said they missed their flight. After following the advice of airport staff, who recommended arriving four hours before departure time, they were able to leave on a Monday flight. Schmidt said, "At this stage, I'm just looking to get on a flight going somewhere."
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Air New Zealand suspends its FY26 forecast due to rising jet fuel prices in the Middle East
Air 'New Zealand suspended their fiscal 2026 'earnings projections?on Tuesday, citing the?escalation in conflict in the Middle East as well as unprecedented volatility on global jet fuel markets. New Zealand's Flag?Carrier forecast that second-half earnings would be?flatter or weaker than first?half, in its interim results published last month. It had posted a loss of NZ$59 million before tax. Air NZ stated in a statement that the conflict in the Middle East had led to extreme volatility on jet fuel markets since then. Jet fuel prices have increased sharply in recent days, from $85-$90 per barrel before the conflict. Fuel is the second largest expense for air carriers, after labour. It typically accounts for between a fifth and a quarter of operating expenses.
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Businesses shiver at the remote work order after Peru's pipeline rupture
Business groups in Peru are at odds with the interim government about sweeping measures taken after the rupture of the main natural gas pipeline in the country triggered the worst crisis in energy in two decades. This is an early test for President Jose Balcazar’s interim mandate, weeks before the national elections. The breakdown of Transportadora de Gas del Peru’s pipeline has caused widespread gas rationing. This has pushed up energy prices, and exposed long-standing weaknesses in the Andean country's energy system. Balcazar faces a leadership challenge after being appointed by Congress on 18 February, following the ouster of his predecessor. Over a thousand companies have been affected by the halted production of gas, and many business associations are calling for the rollback on emergency directives. Gas flows could not resume before mid-March, according to authorities. The outage may exacerbate?inflation which, despite political turmoil for years, has been among the lowest on the planet. Former Economy Minister Alonso Segura said, "It could affect inflation in a heterogeneous manner depending on how energy affects every activity." Segura stated that the inflation rate reached 0.69% during February, and may exceed the 0.81% registered in March of last year. 70% of LPG used in the United States is produced using natural gas. Around 2.1 million homes rely on gas piped to their homes and approximately?one hundred thousand vehicles run on LPG or natural?gas. Peru is the third largest copper producer in the world. The former Energy and Mines minister Carlos Herrera stated that the rupture highlighted Peru's vulnerability, after an alternative project was cancelled in 2017 because the Brazilian construction firm Odebrecht could not secure financing during a probe into bribes given to secure contracts for public works in Peru. Herrera stated that the crisis highlighted the need for diversification of the energy matrix in the country. The serious problem is that we've never made any exploratory efforts in the past for natural gas. Industry groups reported that more than 1,000 businesses were affected. Some of these companies halted production. Felipe James, the head of SNI (National Society of Industry), stated that emergency rules to allow firms to'switch temporarily to alternative fuels' will be expensive and not all businesses are equipped to make this change. James stated that "not all people can switch... they aren't prepared." The government in Lima ordered all public employees to work remotely during a seven-day period on Friday and encouraged private companies to do the same. During the contingency, schools and universities will switch to virtual classes. Business associations have criticized these measures. They claim that they equate to a partial shut down of the economy. We demand that this decision be reversed. COMEX, a foreign trade group, demanded that this decision be reversed. The Peruvian mining and energy chamber stated that it was working "intensely", to alleviate the crisis, and was seeking?to?import LPG within "record-time." The presidential spokesperson and the Ministry of Energy and Mines have not responded to requests for comments. The TGP pipeline was launched in 2004. It allows the export of gas to Japan and South Korea. (Reporting and editing by Cassandra Garrison, David Gregorio and Marco Aquino)
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Pakistan Navy launches Shipping Security Operation amid Middle East Tensions
The Pakistani navy launched a maritime operation on Monday to protect shipping lanes, energy supplies and other vital sea routes from regional tensions. In a press release, the military media said that the operation?named Muhafiz ul-Bahr, meaning Protector of the Seas, is designed to protect "lines of communications" at sea, and ensure uninterrupted maritime commerce and national energy supply. The statement did not explain what it meant by "lines of communication". The Middle East war raises concern about the safety of shipping routes and the potential for disruptions of global energy supplies through the Strait of Hormuz. This is a major artery of global oil supply, including South Asia. The statement stated that "with approximately 90% of Pakistan's trade being conducted by sea, the operation is aimed at ensuring that vital sea routes remain secure and uninterrupted." Pakistan imports the majority of its energy. The government has announced measures to reduce fuel consumption after the global oil price surged due to the escalating conflict. The finance ministry reported that a government committee that was reviewing the impact of the regional conflict found Pakistan's oil stocks to be at "comfortable" levels. Additional cargoes are being arranged in order to maintain?supply continuity?in the coming weeks. The navy is escorting two merchant ships in coordination with Pakistan National Shipping Corporation,? one of which will arrive in Karachi on Monday. The?vessel-escorts' were not further described. The navy stated that it is "prepared to respond" to emerging maritime security threats and ensure the safety and efficiency of regional and national maritime traffic. Reporting by Ariba Bukhari and Mubasher Bakhari in Lahore. Editing by Gareth Jones.
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Canadian oil tycoon supports South Bow pipeline in order to boost US exports
The Canadian tycoon, who is the CEO of one of North America’s?fastest-growing oil companies, said he supported a proposal that could potentially revive parts the former Keystone XL pipe and?wants Canada to use the project as a?leverage? in upcoming negotiations with the United States. Adam 'Waterous, CEO of Strathcona, has said that he prefers a new West Coast pipe to gain access to Asian markets. Waterous is one of Canada's leading oil dealmakers and his comments are the first time a Canadian oil shipper has publicly endorsed a new pipeline project led by Canadian firm South Bow, which could increase Canada's crude exports into the U.S. The comments by Waterous, one of Canada's most aggressive oil industry dealmakers, are the first public statements made by a Canadian oil shipper in support of a new pipeline proposal led Canadian company South Bow that could increase the country's crude exports to the U.S. South Bow launched a competitive bidding process last week offering 450,000 barrels per?day of contracted pipeline capacity from Hardisty, Alberta to multiple U.S. delivery points including Cushing, Oklahoma, and destinations on the U.S. Gulf Coast. South Bow began a competitive bid process last week, offering 450,000 barrels of pipeline capacity per?day from Hardisty in Alberta to several U.S. destinations, including Cushing, Oklahoma and destinations along the U.S. Gulf Coast. This was to assess potential commercial use. Waterous refused to confirm if Strathcona would commit barrels for the South Bow Project, citing ongoing negotiations. Waterous cited his company's stated aim to increase its oil production to up to 300.000 barrels per day by 2035, from 125,000 barrels a day in 2026. Waterous stated, "I was a very early supporter of this project." "And we're looking for egress," he said. He was referring to the ability of oil shippers to transport their products to market. Waterous, however, said that the South Bow proposal was not the first choice of the Canadian oil industry to boost crude exports. Waterous says that more than 90% (of Canada's) oil exports are currently shipped to the United States. Canadian oil shippers, he said, have been seeking greater market diversity for years. Waterous stated that Canadian oil companies would like to see a new pipeline built to the Pacific to complement the Trans Mountain pipeline, which currently runs from Alberta up to the British Columbia coast, and provides a route to Asian markets. Four other large Canadian producers of oil sands did not reply to a question about if they supported the South Bow proposal. Potential Political Benefits The Alberta government said that it would submit an application to the federal government for approval of a new crude-oil pipeline from the west coast. However, no private company had said they would build the project. Waterous stated that the South Bow pipeline proposal has the potential to be built?faster, cheaper, and with more political benefit for Canada. He suggested that Canada could use Trump's previous comments to its advantage, saying he wanted to see the Keystone XL Project built. Mark Carney, the Prime Minister of Canada, has also 'raised the prospect with Trump of reviving Keystone XL Oil Pipeline?from Alberta into the United States in his efforts to ease tensions between trade between the two nations. Waterous stated that "the utility of a pipe to the south" is to help achieve a tariff deal to protect Canada's steel and auto sectors while also allowing its oil sector to expand. (Reporting and editing by Caroline Stauffer in Calgary, Deepa Babington, and Amanda Stephenson)
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Oman's Muscat Airport denies restricting private jets following reports
Oman's Muscat Airport confirmed a message seen by charter executives asking private?jets not to use the airport for "additional" flights,?to give government and commercial traffic priority. The airport stated that "Muscat International Airport will continue to facilitate and welcome private jet flights as well as business aviation operations." Financial Times reported the first online message sent by a group of?executives, which featured a letterhead bearing the Oman Airport's logo. The message asked airlines and operators to cancel all flights that did not fall within the approved seasonal schedule. According to a message from March 6, which was seen by us, "due to current crisis management measures at Muscat International Airport," flight movements were restricted to only approved seasonal'scheduled' services. According to the message, the airport claimed that this measure is necessary for managing congestion and ensuring that airport capacity remains within reasonable limits. Flight cancellations in the Middle East have been a result of the U.S. and Israeli military campaign against Iran. Airlines and governments are scrambling to help 'thousands' of passengers stranded. Some people are turning to private jets to escape the airspace that is still closed due to'missiles and drones concerns. Fighter?jets have been known to accompany passengers to their passenger planes when they rush to the?airports.
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Europe's struggling retailers are unprepared for a new energy price shock
The rise in energy prices following the U.S. and Israeli 'war on Iran' puts further pressure on the?retail sector in Europe. Already struggling with a?weak - consumer demand, as well as diminished spending power. Investors and analysts were expecting a spillover effect from higher gas and petrol prices. This is despite the fact that the retail sector, which includes Marks & Spencer and Inditex, has barely recovered since the spike in gas prices following Russia's invasion. The prices of food manufacturers, supermarkets and clothing retailers increased significantly after the energy price shock that occurred in 2022. However, the situation today could be even worse, as the economies in the Eurozone and the UK are barely growing. Retailers also had to deal with the added costs and disruptions caused by a global war of trade launched last year by President Donald Trump. "If prices rise?now, the consumer might react more strongly, given that demand is already fragile," said Christian Eufinger. A professor of finance at IESE, Barcelona, who has studied how energy price shocks affect consumer prices. The demand was relatively high when the Ukraine crisis struck in early 2022 as economies recovered from the pandemic. Eufinger said that after years of high prices, the people now have less money. According to an index released in January by restructuring firm Weil, the retail and consumer goods industry was already in the worst shape in Europe even before this surge in oil prices. The index is based on indicators such as reduced profitability and increasing insolvency risks. COST PRESSURES CHAIN REACTION Francesco Gangemi, consultant at Simon-Kucher, says that the most immediate impact on retailers is the cost to truck goods around. Road?transport accounts for between 5% and 10% of an average retailer's operational expenses. Costs for supermarkets and shopping malls are increased by energy-intensive refrigeration, heating, air conditioning and lighting. Oil prices have also risen due to the sudden increase in oil. This has directly affected food producers. Massimiliano Giansanti is the president of Italian farmers group Confagricoltura. He said that a cost-driven inflationary spiral appears inevitable. Simon-Kucher’s Gangemi stated that clothing retailers are most vulnerable to inflation because fashion is what people first cut back on when prices of food and essentials increase. RBC analysts have cut their predictions for M&S profit, saying that the rise in oil and gas costs will likely increase British household bills later this year. The British retail association has called on the government to limit the impact of the new taxation laws on consumers. Andrew Opie is the director of food sustainability and British Retail Consortium.
Beta Technologies wins FAA grant to accelerate development of military cargo drone
Kyle Clark, CEO of Beta Technologies, said in an interview that the company is speeding up the development of its Alia MV250 military cargo drone, and expects to fly it this year. He said that the accelerated timetable reflects Beta’s increased spending and focus on military programs.
He said, "We have advanced our MV250 and?there is a big thematic wind right now coming from the administration that forces us to invest more in defense."
The electric-powered MV250 is able to take off and land vertically, just like a helicopter. It can carry up to 2,000 lbs of cargo.
In its November public offering, the Vermont-based company raised $1 billion. It designs and manufactures?electric aircraft and advanced electric propulsion systems.
Beta is also increasing production of commercial Alia versions: a vertical take-off-and-landing, or VTOL version, and a conventional lift-off-and-landing, or CTOL version. Clark stated that the company expects to manufacture 20 aircraft in this year and another 80 next year.
The U.S. Federal Aviation Administration announced Monday that Beta's Alia VTOL and its Charging Systems were selected to participate in 7 of 8 grant programs designed to encourage the integration of e VTOLs, drones, and air?taxis within the aviation networks of the United States.
Joby Aviation, Electra and Archer Aviation are also recipients of multiple grants. The share prices of the three publicly-traded companies rose on Monday after the announcement. Beta shares rose 12% on the day, while Joby and Archer both gained 5% and 4.4%.
Clark stated that Beta hopes to have the VTOL version of the 'Alia CTOL' certified by the 'FAA by the middle of 2028.
The company has received firm orders for 890 aircraft – 70% for the Alia VTOL, and 30% for CTOL. (Reporting from Seattle by Dan Catchpole; editing by David Gaffen).
(source: Reuters)