Latest News
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Brazilian airline Azul receives bankruptcy court approval for debt restructuring
A U.S. bankruptcy court judge approved Azul’s debt restructuring on Friday, allowing it to reduce more than $2 billion of debt and raise capital via a new equity right offering and investment from American Airlines and?United?Airlines. At a hearing in White Plains (New York), U.S. Bankruptcy judge Sean Lane approved Azul’s?bankruptcy plans. Azul filed Chapter '11 bankruptcy in New York, in May. Its goal was to reduce its debts and to make its business more resistant to market challenges such as fluctuations in fuel prices and currency exchange rate. The bankruptcy plan of the company converts much of its existing debt into equity, and allows it to raise money by selling new equity shares. United and American have agreed to invest up to $300 million in Azul equity as part of the bankruptcy.
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Venezuelan oil exports plunge sharply following US tanker seizure - sources and data
According to documents, shipping data and maritime sources, Venezuelan oil exports are down sharply after the United States seizes a 'tanker' this week. The United States also imposes new sanctions against shipping companies and vessels that do?business? with the Latin American oil producers. The U.S. is preparing to seize additional vessels. As a result, oil tanker movements in and out of Venezuelan water have virtually ceased. Washington is increasing political and economic pressure against President Nicolas Maduro who depends on oil export revenues to fund his government. The U.S. is executing a massive military buildup in the southern Caribbean, and U.S. president Donald Trump wants to remove Maduro. The vessel was seized on Wednesday, the first time an oil tanker or cargo from Venezuela has been intercepted by the U.S. since 2019. Data and documents show that only tankers chartered from U.S. oil major Chevron, have been sailing into international waters with Venezuelan crude since then. Chevron is authorized by the U.S. Government to work in joint ventures and export oil from the U.S. to the state-run oil firm?PDVSA. Chevron exported two cargoes containing Venezuelan heavy crude oil to the U.S. in the first month of this year, both after the seizure. According to data, two more cargoes were loaded on Friday. The U.S. firm said this week that it operated in Venezuela "without interruption and in full compliance of the laws and regulations applicable." PDVSA has not responded to a comment request. Venezuela criticised the seizure this week and called it "theft." STAUGHT IN VENEZUELAN SEA WATERS According to sources and data, the threat of further seizure of vessels has left tanks that have loaded around 11?million bbls of oil and diesel stuck in Venezuelan water. The U.S. has imposed sanctions against Iran and Russia that have affected some of these tankers. Sources say that the U.S. will likely target vessels sanctioned by the U.S. or those who have transported sanctioned crude oil in future actions. Sources say that the Skipper, the ship that was seized by?U.S. The Skipper, which was seized by the?U.S. on Wednesday, had been transporting both Venezuelan and Iranian crude. In November, Venezuela exported 952,000 barrels of crude oil and fuel per day. This was the third highest monthly average so far this year. Around 80% of these shipments were sent to China directly or indirectly, while exports to the U.S. increased to around 150,000 bpd. Data and documents show that oil exports from OPEC countries were flowing normally before the seizure in the first few days of December. Washington also sanctioned this week six supertankers which recently loaded Venezuelan crude oil, as well as related shipping companies in an effort to increase pressure from the United States on Maduro. According to a document obtained by, PDVSA, Venezuela's oil minister, and the company's Caracas HQ called on Friday executives, workers, and joint venture managers for a teleconference. Minister Delcy Rod was leading it. (Reporting and editing by Marianna Paraga, Franklin Paul, Bill Berkrot and Simon Webb)
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IndiGo, India's largest airline, estimates a payout of over $55 Million to its customers after flight cancellations
IndiGo, India's largest airline, estimated on Friday that it would pay out more than 55.19 million dollars to customers affected by its massive cancellations of flights last week. After the airline cancelled 4,500 flights due to poor roster planning last week, it left tens and thousands of passengers stranded. The civil aviation regulator then ordered that 10% of their domestic winter schedule be cut. In a message on X, the budget airline stated that it was identifying 'flights in which customers were severely impacted on December 3, 4, and 5. IndiGo said it would compensate passengers whose flights "were cancelled within 24 hours before departure time and/or customers who were severely stranded in certain airports." IndiGo was criticized for not planning for the new rest periods and duty rules. This resulted in planes being grounded and disrupting travel arrangements. In response to the reduction of its winter schedule, the 'Indian carrier cut its capacity forecast and passenger unit revenue for?the?third quarter on Wednesday.
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Southwest Airlines will open Austin crew base by 2026 and create 2,000 jobs
Southwest Airlines announced on Friday that it will open a "crew base" at Austin-Bergstrom International Airport in March 2026. This move is part of the carrier's efforts to expand into central Texas, which is experiencing rapid growth. The airline said that the majority of the new Austin base's staff would be made up of captains, flight attendants and first officers, supported by administrative and leadership teams. Southwest plans to also add a training facility that will be used for a regular basis by flight attendants as part of its broader business transformation. The carrier expects to open the Austin base in early March, with approximately 335 pilots and about 650 flight attendants. This number will grow to around 2,000 employees by mid-2027. The airline stated that the decision was made after months of planning and discussions with Austin city officials, Texas economic development leaders, and other stakeholders. It was to increase the airline's operational efficiency?and long-term growth in the state. Southwest said that it would also strengthen its partnerships with local workforce programs and the airport’s career center in order to support hiring for the new base. (Reporting and editing by Maju Sam; Apratim Sarkar)
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Venezuelan oil exports plunge sharply following US tanker seizure, as only Chevron vessels sail - data sources
According to documents, shipping data and maritime sources, Venezuelan oil exports are down sharply after the United States seizes a tanker this week. Only tankers chartered in the United States are allowed to enter international waters. Since Wednesday's seizure, oil major Chevron has sailed into international waters with Venezuelan crude. Chevron has a U.S. Government authorization is required to run joint ventures and export oil from the United States. According to sources and data, tankers with?about 11,000,000 barrels of fuel and oil are stuck in Venezuelan waters. Sources claim that some of the cargoes were on board tankers sanctioned by Washington as part of measures taken against Iran or Russia. The U.S. oversees these tanks and could take further punitive actions.
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Ukraine strikes Russian oil infrastructure on the Caspian Sea for a second time
An official of the Security Service of Ukraine said on Friday that two Russian oil rigs were struck by Ukrainian drones in the Caspian Sea. Sources claim that SBU drones attacked the Filanovsky oil rig and Korchagin oil platform, both of which belong to Russia's Lukoil. This week, the Filanovsky oil rig, which is part of Russia's biggest Caspian field was attacked. This was the first such attack in the war, as Ukraine intensifies its campaign to disrupt Russian oil production. Source: According to preliminary reports, drones damaged critical equipment and suspended production on both platforms. Could not verify the information immediately. Lukoil has been contacted for comment. The Caspian Sea lies more than 700 kilometers (435 miles), away from the nearest Ukrainian border. Kyiv conducted drone strikes against Russian oil facilities in an effort to undermine Moscow’s ability to fund its war?in Ukraine. The strike has targeted oil refineries in particular, with many located?in Europe? of Russia. Last month, Ukraine expanded its campaign by targeting tankers that transport Russian oil through the Black Sea. In the last two months, Ukrainian drones have hit three of these vessels. (Reporting and writing by Tom Balmforth; editing by Kirby Donovan).
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US House passes bill for fast-tracked natural gas pipeline permits
The U.S. House of Representatives voted on Friday 213-184 in favor of a bill aimed at?accelerating federal permitting of interstate gas pipelines, by?designating?the Federal Energy Regulatory Commission?as?the leading?agency?. The Improving Interagency Coordination for Pipeline Reviews Act allows the agency to consider water quality assessments as part of its environmental review instead waiting for state certifications under the Clean Water Act, which delays the permitting process. This bill is one of many pieces of legislation that are aimed at speeding permitting up in the?Congress. Bipartisan support was also given to another bill, Promoting Efficient Reviews for Modern Infrastructure Today. Why it's important The upcoming?year will see the?Congress prioritize the passage of broad permitting reform legislation to help build the energy infrastructure required to meet the growing demand for power from data centers, and lower the rising costs for household energy. FERC has traditionally had five members of the panel who are appointed by the president and confirmed by Senate. It has been approving most of the "natural gas pipeline" decisions for years. KEY QUOTE In a press release, American Petroleum Institute President Mike Sommers stated that "These bills will help unlock the infrastructure America requires to meet the growing demand for reliable and affordable energy." What's Next? The Senate is pursuing a separate reform of energy permitting that would go beyond the bills passed by the House. The Senate is focused on reforming the National Environmental Policy Act (the bedrock environmental law) for projects such as upgrading electric transmission lines. (Reporting and editing by Paul Simao; Valerie Volcovici)
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US threatens New York State with a withdrawal of highway funding over the issue of non-citizen licenses for truck drivers
U.S. Transportation Department threatened on Friday to 'pull $73million in funding from New York State over commercial driver licences improperly issued?to non U.S. citizens. This is the latest of a series Trump administration 'threats?aimed at Democratic run states. After a federal audit, the department warned that New York State must act within 30 days to address concerns regarding immigrant truckers or risk losing federal highway funding. In September, the agency issued an emergency rule to severely restrict commercial drivers licenses for immigrants and non-U.S. Citizens after a fatal crash in Florida. U.S. Secretary Marco Rubio announced in August that the U.S. would immediately suspend the issuance all commercial truck driver worker visas. Sean Duffy, Transportation Secretary, said that if we want drivers on American roads, they must be well-trained and skilled. If operated incorrectly, or in an inappropriate manner, these vehicles can become lethal weapons. Duffy's Department announced on December 1 that it could withhold federal highway funding of up to $30,4 million from Minnesota due to improperly issued commercial driver's licenses. Separately the department has removed nearly 3,000 commercial license training providers from government registry because they failed to properly equip trainees in early December. Another 4,000 are on notice of potential noncompliance. The Department of Transportation on Tuesday threatened withholding transit funding from Chicago trains and buses, and demanded increased police protection. Citing an incident where a 26-year old woman passenger was beaten and set ablaze last month, the department also called for more police security. The department has sent similar letters in the past to express concerns over transit problems in New York City, Boston and other cities. Chicago is also heavily Democratic, as are the other two cities. Donald Trump has threatened to cut funding for cities that are run by Democrats. This includes major infrastructure projects in Chicago and New York. The U.S. Transportation Department said in October that it would pull $160 million from California due to the issue. In November, California agreed to revoke the commercial driver's licenses of 17,000 foreigners that the Department said were issued improperly. In October, the department withheld $40,6 million of federal transportation funding for California because it failed to comply with rules governing truck driver English proficiency. In 2023, it said that approximately 16% of U.S. drivers were born abroad. (Reporting and editing by Paul Simao in Washington, with David Shepardson reporting from Washington)
Alaska Airlines flight attendants set for 32% average pay increase in brand-new tentative contract
Alaska Airlines' flight attendants are set for a typical pay increase of 32% as part of a brand-new threeyear tentative labor contract with the airline company, a. union representing the employees stated.
The arrangement, yet to be validated by the Associate of Flight. Attendants union members, is also the first to make boarding pay. lawfully binding for unionized flight attendants, the union stated. on Tuesday.
Flight attendants in the U.S. are normally paid a hourly. rate after the flight cabin doors close and it does not consist of. the time taken to onboard travelers.
With boarding pay, we accomplish substantial pay increases,. the union stated.
Alaska Airlines did not immediately react to an ask for. comment.
The brand-new three-year tentative agreement comes at a time when. pilots and flight attendants across U.S. airlines have been. requiring better pay and benefits after the pandemic brought the. industry to a grinding halt and the subsequent suppressed travel. demand led to tape-record revenues for airlines.
In February, Alaska Airlines' flight attendants licensed a. strike mandate for the very first time in 3 decades.
The tentative labor arrangement, which avoids a capacity. strike, includes benefits such as improvements to vacation and. overtime pay along with 20 months of retroactive pay.
Voting for the ratification of the deal will take place. later this month, and end on Aug. 14.
(source: Reuters)