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NDTV reports that at least 19 people have died after a bus catches on fire in India's Rajasthan.
According to the Indian broadcaster NDTV, citing police, at least 19 people were killed on Tuesday when a private vehicle in the state of Rajasthan, located in western India, caught fire. Smoke was seen coming from the back of the bus as it traveled from Jaisalmer towards Jodhpur. NDTV reported that the driver stopped the vehicle along the roadside, but within seconds flames engulfed it. According to the report, police suspect that the fire was caused by a short-circuit. NDTV reported that 15 passengers, including 2 children, suffered serious burns. Some of the victims had up to 70% of their skin burned off. Details of the report could not be independently verified. Rajasthan Police did not respond immediately to our request for comment. "Distressed at the loss of life due to an accident in Jaisalmer (Rajasthan). In this difficult time, my thoughts are with those affected and their families," Indian Prime Minister Narendra Modi wrote in an X-post. The Prime Minister also announced that the National Relief Fund of the Prime Minister will provide 200,000 Rupees (2,253) for the families and injured.
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Azeri BTC and Urals are both down on weaker demand
As November-loading cargoes began to trade, the differentials between Russia Urals and Azeri BTC remained stable, but traders reported that Azeri BTC volumes had been offered at lower premiums on a bearish oil market. The demand for Russian Urals Oil remained strong, and cargoes to be loaded in November began to appear on the market. The traders tried to estimate the volume of exports for November, as the ongoing attacks on Russian oil refining facilities and the news of an increase in Russian oil production suggested a higher availability of this grade. Traders said that the high availability of alternative oils on the market has put pressure on premiums for Azeri BTC. PLATTS WINDOW Azerbaijan SOCAR offered to load 650,000 barrels Azeri BTC Oil from Ceyhan on November 4-8 at plus $1.95 Brent Dated, but the offer failed to find a purchaser, despite being below recent price estimates. The United States, China and other countries began to charge additional port fees for ocean shipping companies that transport everything from holiday toys or crude oil. This is a major front in the trade dispute between the two world's largest economies. The International Energy Agency reported on Tuesday that Russia's revenue from crude oil, refined products, and other petroleum products dropped again in September. Exports of these products plummeted to their lowest level in over a decade, excluding April 2020 when COVID was a problem.
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US Judge to hold trial in 2027 for fatal helicopter and plane collision lawsuits
A federal judge set a trial date of April 2027 for lawsuits filed over the collision between an American Airlines regional plane and a U.S. Army chopper that claimed 67 lives near Ronald Reagan Washington National Airport this year. U.S. district judge Ana Reyes set the date for a hearing in Washington with attorneys representing victims, defendants such as American Airlines and U.S. Government. Reyes stated at the hearing that "we will not dishonor those who have lost their lives and their families and friends and we will not dishonor employees of defendants who are working hard to ensure safety" by dragging the matter along. American Airlines, Federal Aviation Administration and U.S. Army didn't immediately respond to comments. Plaintiffs' lead attorneys either refused to comment or didn't respond immediately to a request. At least two lawsuits have been filed against American Airlines and U.S. Both lawsuits were filed in September and name PSA Airlines as a defendant. PSA didn't immediately respond to an inquiry for comment. American Eagle Flight 5342, on its approach to Reagan, collided with a U.S. Army Black Hawk Helicopter over the Potomac River at night. The helicopter was flying above the published altitude for helicopter routes. American Airlines defended their safety record in a previous statement and stated that they would "defend American Airlines and PSA Airlines from any legal actions claiming that the airline caused or was involved in this accident." The U.S. airline disaster was the deadliest in over 20 years. (Reporting and Editing by Bill Berkrot.)
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Chinese airlines oppose Trump's plan to stop flying above Russia on US routes
On Tuesday, major Chinese airlines urged the Trump Administration to abandon its plan to ban them from flying above Russia on U.S. flight routes, claiming that it would increase flight times, increase air fares, and disrupt some routes. The U.S. Transportation Department last week proposed that Chinese airlines be banned from flying over Russia in routes between the United States and China, claiming the shorter flight times put American carriers at an unfair disadvantage. China Eastern, which was one of the six Chinese airlines to send a letter, stated in a USDOT filing that this move could increase flight times on some of their most important routes from two to three hour, and significantly increase the risk of missing connections. Air China and China Southern have said that the decision will adversely impact a significant number of passengers both in the United States as well as China. China Southern estimated that at least 2,800 passengers who were scheduled to travel between November 1 and December 31 during peak holiday travel season would have to be rebooked, "putting their travel plans in jeopardy." In retaliation to Washington's ban on Russian flights over the U.S. after Russia invaded Ukraine in March 2022, Russia has banned U.S. Airlines and many other foreign airlines from flying over their airspace. Chinese airlines are not banned, and they have used this to gain a larger market share on international routes compared to other carriers. On Friday, a spokesperson for China's Foreign Ministry said that the restrictions did not encourage person-to-person contact. Airlines for America, the major trade association representing American Airlines, Delta Air Lines, and United Airlines, applauded the initiative but called on USDOT "to maintain parity in the numbers of passenger flights available for U.S. airlines and Chinese carriers, by ensuring the level of capacity for passengers remains reasonably tied to the marketplace demand." (Reporting and editing by Chris Sanders; David Shepardson)
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Boeing receives EU antitrust approval for Spirit AeroSystems $4.7 billion deal
Boeing received EU antitrust approval Tuesday for its $4.7 Billion acquisition of Spirit AeroSystems, after agreeing on the sale of some Spirit businesses in order to address concerns about competition. Boeing announced a deal last year to streamline its operations and improve the quality of its products, many years after it had spun off the airline suppliers. Boeing offered remedies when the European Commission, the EU's antitrust enforcer said that the deal would have reduced competition on the global aerostructures market and the large commercial aircraft industry. The Commission confirmed a report last week that it had accepted Boeing's proposal to divest Spirit's aerostructures business to Airbus. Boeing will sell Composites Technology Malaysia Sdn Bhd the Spirit site in Malaysia that supplies aerostructures for Airbus. This allows the Malaysian firm to enter the market. Teresa Ribera, EU antitrust chief, said that "Boeing’s commitments" will preserve competition on this important market. They also allow for the entry of new competitors and guarantee commercial aircraft manufacturers get the parts they require at competitive prices. The U.S. has yet to approve the deal. Boeing's spokesperson stated that they were committed to completing the acquisition and obtaining the necessary regulatory approvals. This will allow Boeing to continue to produce high-quality, safe airplanes, benefiting the flying public and our customers. Spirit Airlines said that it is working hard to meet the closing conditions, as well as complete its further planning with Boeing Airbus and Composites Technology. Spirit AeroSystems' spokesperson Joe Buccino stated, "This is a milestone towards transaction closure expected this quarter."
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Blackouts across several states caused by fire at Brazil's power substation
An early morning fire at a substation of Brazilian company Eletrobras caused a power outage in several parts of Brazil. Officials said that the shutdown affected more than one million Brazilians and around 10,000 megawatts of load. OnS, Brazil's energy operator, said that the incident took place in a reactor of a substation located in the south. It shut down the facility, and caused the disconnection for the entire region. The region was exporting 5,000MW to the rest of Brazil. The fire in the South resulted to a loss of 1,600 MW. In other areas, an automatic protection system was activated to cut the power when a disturbance caused the system to need to be rebalanced. The Northeast region was affected by an interruption of approximately 1,900MW. The North region suffered an interruption of 1,600MW. And the Southeast region was affected by 4,800MW. Brazil Mines Minister Alexandre Silveira described the blackout as an isolated incident that was not caused by a lack in energy but an issue with infrastructure. "We now have greater energy safety." "This was an isolated incident to which ONS responded promptly," Silveira stated during an interview with local television. ONS reported that the equipment was restored and the loads recovered "safely" within the first minutes. All the loads were returned within two-and-a half hours. Eletrobras stated in a press release that it would work with ONS in order to identify the cause of the incident, and the agency will also investigate the factors leading to the wider disturbance in the interconnected national system. The blackout affected at least 1.3 millions people, according to electricity distributors in the country. These include Light and Enel Sao Paulo. (Reporting by Leticia Fucuchima in Sao Paulo and Rodrigo Viga Gaier in Rio de Janeiro; Writing by Fernando Cardoso; Editing by David Gregorio)
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Sources: Enagas is in negotiations to purchase GIC's stake in French gas grid operator Terega.
According to two sources familiar with the matter, Enagas, a Spanish gas grid operator, is in negotiations to buy GIC, a Singaporean sovereign fund, 32% of Terega, France’s second largest gas transmission operator. Terega also partners with the Spanish company on a project to build a hydrogen pipe connecting Spain and France. The companies also run gas pipelines between the two countries. According to one person, the stake could be worth up to 600 million euros. The French company's value, including its debt, is estimated at 4 billion euros. According to LSEG, Enagas' market capitalisation stood at 3.6 billion euro as of Monday close. The sources, who spoke on condition of anonymity because the conversations were private, said that no deal was certain. Enagas declined to comment. Terega refused to comment on these talks and didn't respond to an inquiry about the value of the stake. Enagas could achieve its stated goal of accelerating investments in hydrogen infrastructure by signing a deal with GIC. Terega, Enagas and Engie's Natran unit are part of a joint-venture to build a trans-border hydrogen pipe between the Spanish port of Barcelona and France's Marseille. This project is part of the larger H2Med pipeline, a 2.5 billion euro project, which will connect Portugal, Spain France and Germany in 2030. The European Union hopes to replace some of the natural gas used in homes with hydrogen which doesn't emit CO2 when it is burned. According to the website of Terega, Italian gas grid operator Snam holds a stake of 40.5%, French utility EDF has an 18% stake and French bank Credit Agricole has a 10% share. EDF and Credit Agricole explored selling their stakes, but the deal never materialized.
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Boeing receives EU antitrust approval for Spirit Aerosystems $4.7 billion deal
Boeing received EU antitrust approval Tuesday for its $4.7 Billion acquisition of Spirit, after agreeing to some Spirit businesses being sold to address concerns about competition. The agreement announced in July of last year is intended to streamline Boeing's operations and improve its quality control. This comes years after the company spun off its key airline supplier. Boeing offered remedies when the European Commission (which acts as EU antitrust enforcer) said that the deal would have reduced competition on the global aerostructures market and the large commercial aircraft sectors. The Commission confirmed a report last week that it had accepted Boeing's proposal to divest Spirit's current businesses, which supply aerostructures for Airbus. Boeing will sell Composites Technology Malaysia Sdn Bhd the Spirit site in Malaysia, which supplies aerostructures for Airbus. This allows the Malaysian firm to enter the market. Teresa Ribera, EU antitrust chief, said that "Boeing’s commitments" will preserve competition on this important market. They also allow for the entry of new competitors and ensure commercial aircraft manufacturers get the parts they require at competitive prices. (Reporting from Foo Yunchee)
Foreign airline companies dislike China as domestic providers expand abroad
Chinese airline companies are getting market share on global routes, industry data shows, as foreign rivals are prevented by weak China travel demand and rising costs and extended flight times due to the fact that of the need to avoid Russian airspace.
Foreign airline companies, led by Western providers such as British Airways and Australia's Qantas Airways, are pulling services or opting not to restart flights to China after the pandemic, whereas Chinese airline companies are expanding overseas operations.
The percentage of international flights to and from China run by the country's providers is greater than previously COVID-19 grounded much of international aviation and continues to increase.
British Airways said on Thursday it would stop flights from London to Beijing for a year from late October for commercial reasons and last month suspended one of its twice daily London-Hong Kong flights for the exact same period.
Given that the break out of war in Ukraine in 2022, Chinese providers have continued to take shorter northern routes to Europe and North America over Russia's vast airspace.
On the other hand, airline companies in Europe, the U.S. and other countries have been prohibited from Russian airspace by Moscow or their own governments or choose not to overfly out of security issues.
That has actually expanded the expense benefit held by Chinese airlines and permitted them to take a bigger share in the international market at a time when fierce competitors on domestic routes has put pressure on ticket prices and success.
Normally Chinese providers have anything approximately 30% lower expenses than their worldwide rivals, stated John Grant, senior expert at travel information firm OAG. Chinese airlines are desperate for hard currencies and have started a comprehensive expansion.
British Airways' four days a week Beijing-London flight takes around 2-1/2 hours longer than China Southern's. daily flight on the exact same route it introduced last. year, according to flight tracker Flightradar24.
British Airways will continue day-to-day London-Shanghai. flights and in May relaunched a codeshare with China Southern.
Virgin Atlantic said last month it would drop its. London-Shanghai service forever from the end of October due. to longer flight times.
British Airways and Virgin Atlantic will be able to utilize the. valuable London Heathrow launch and landing slots for other. routes that may be more successful.
Qantas pointed out half-empty airplanes and low demand for China. travel when it suspended Sydney-Shanghai flights in July, while. Asian provider Royal Brunei Airlines pointed to market. conditions as the factor for suspending twice-weekly Beijing. flights from October.
FOREIGN PROVIDERS RETREAT
Chinese airline companies consisting of China Southern, China Eastern. and Air China in July ran 90% of. the number of worldwide flights they were running in July. 2019, according to Cirium schedule data analysed .
Foreign carriers operated just 60% of pre-pandemic flights,. indicating a retreat.
For example, the only non-stop flights between Mexico and. China are from Chinese airlines after Aeromexico did not resume. links after the pandemic. Aeromexico did not respond to a. request for remark.
Lufthansa CEO Carsten Spohr said last week the. group's weak point in Asia stemmed not from an absence of economic. chances, however from overcapacity supplied by Chinese. providers.
But in the Middle East, where China has actually been developing ties,. Dubai's Emirates has fully brought back capacity to China, Kuwait. Airways has actually increased frequencies and Bahrain's Gulf Air in May. started flights for the first time to two Chinese cities.
China's global traffic has actually been growing given that. pandemic-related limitations were raised at the start of 2023,. however it has recovered more slowly than in other countries due to. a failing economy and a turn towards domestic travel.
In July, there were 23% fewer flights out of China than in. the exact same month in 2019, Cirium information programs.
POLITICAL CONCERNS
Some flights to and from China have been held up by. political concerns. Guest flights in between India and China did. not resume at all after the pandemic due to a border dispute.
Flights between China and the United States are at about a. fifth of 2019 levels after a bilateral air services agreement. was suspended in 2020.
Mutual flight authorisations have slowly increased, however. U.S. airlines are running only 35 return flights a week of the. 50 permitted, Cirium data programs, whereas Chinese carriers have. increase to 49 a week.
United Airlines said last month it had reallocated. capability to other parts of the Asia-Pacific area due to. considerably lower travel demand for China.
Major U.S. airlines and air travel unions in April asked the. U.S. government not to approve anymore flights by Chinese. providers in a letter pointing out Beijing's anti-competitive. policies and the Russia overflight disadvantage.
If the development of the Chinese aviation market is enabled to. continue untreated ... flights will continue to be relinquished. to Chinese carriers, the letter stated.
(source: Reuters)