Latest News
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Report: US Castlelake is looking to MSC as a partner for easyJet's bid.
Italian daily Corriere della Sera said that U.S. investment company Castlelake was looking to MSC, the world's largest shipowner, as a possible partner in a consortium interested in a potential takeover bid for British budget airline easyJet. Castlelake announced last week that it is in the initial stages of evaluating a possible easyJet offer, which would be above 403.23 pence a share. However, no approach has been made to easyJet's board. According to UK takeover regulations, the company has until June 26th to submit a firm offer or walk away. Corriere reported that two sources familiar with the discussions said that if 'Castlelake' decides to make a formal offer for the carrier before the deadline, they 'hope to work with MSC in order to ensure their?bid is compliant with EU ownership rules. The article added that MSC was a possibility for two other sources and that they had contacted the group. MSC is a Swiss company run by Italian billionaire Gianluigi Aponte. It's a global group that not only manages container shipping, but also inland transport, terminals, and passenger cruises. It has a 49% stake in the Italian high-speed railway operator Italo. The report said that a combination with easyJet could allow MSC to control "the entire leisure travel chains, from flights to cruise ships" in a similar model to the German travel group TUI. EasyJet owns and operates a holiday package business that was launched in 2019. MSC declined comment. EasyJet, Castlelake and MSC declined to comment.
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South Korea and China agree to first expansion of flight rights in 7 years
Seoul's Transport Ministry announced on Thursday that South Korea and China had agreed to extend weekly 'flight rights' between the two countries for the first time in seven year. This is another sign of the warming relationship between the Asian neighbours. According to the Ministry of Land Infrastructure and Transport, an agreement reached during bilateral aviation talks in Seoul between May 27 and 28, will increase passenger flights by 56 weekly flights, to 664, from 608, while cargo flights by 14 weekly flights, to 68, from 54. The Ministry said that the agreement would allow for easier addition of flights to?high demand routes? such as Incheon-Shanghai and Incheon-Guangzhou where rights were?fully used on both sides? The ministry announced that it would also expand routes 'from South Korea regional airports including Busan and Cheongju to 10 Chinese cities like Guangzhou Chengdu Shenzhen Chongqing Xian and Xian. According to the statement, the first-quarter passenger traffic between South Korea, China and Japan reached 4,39 million passengers, surpassing the pre-pandemic levels of 4,14 million. Lee So-young is the aviation policy chief at the Ministry. He said that it was encouraging to see the two countries achieve a 'timely expansion of their flight rights by active aviation talks, just as the exchanges between the two countries were growing. Lee stated that the agreement would help to promote the visits of Chinese tourists to South Korea, as well as improve the convenience of our citizens traveling to China, and import-export firms, while also contributing to the revitalisation the economy through further boosting Korean Airlines' entry into the Chinese market. The ministry said that it will allocate the newly acquired rights to South Korean Airlines in the second half year. (Reporting and editing by Ed Davies.)
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US FCC to tighten rules for US firms in the undersea cable market
The Federal Communications Commission announced on Wednesday that it will tighten the oversight of submarine cables, which handle 99% international internet traffic. It has proposed rules?that make it more difficult for Chinese companies to supply equipment?and?fast-track approvals?for trusted U.S. technology firms. The FCC announced that it would require licenses to be issued to operators of submarine line equipment. This equipment performs the most important function of a cable system, connecting the submarine cables to U.S. land-based facilities. U.S. firms such as Alphabet's Google and Facebook's parent company Meta?will likely benefit from a process that will allow them to receive faster approval for additional?undersea cables systems to handle the growing internet traffic. Fast-track means that companies operating cables must be vigilant against espionage and other security incidents, and monitor compliance with national and data security. Operators must also agree to not?use foreign technology that may pose security risks. The FCC banned the use of equipment and services for undersea cables from companies that were on their list of companies deemed as a threat to U.S. National Security. The companies that were banned included Huawei, ZTE and China Telecom, but new rules will likely expand the ban so as to include equipment from China or other 'foreign enemies' in submarine cable systems. Since more than a decade, U.S. officials are concerned about the network?of more than 400 submarine cables that handle almost all international internet traffic. They also worry about the threats from China and Russia. Jim Risch, the chair of the U.S. Senate Foreign Relations Committee in April, urged for new measures to address national security concerns about submarine communication cables. Risch stated that "to end undersea attacks, we need to publicly identify the perpetrators and call them out as soon as they occur." We also need an international concerted effort to improve the resilience of the undersea infrastructure and prevent or reduce the impact when these attacks happen. In?2021, Justice Department stated that agreements for national security on submarine cables were required with Google and Meta, given China's "consistent efforts to obtain the sensitive personal information of millions of U.S. persons." (Reporting and editing by David Shepardson)
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ACI: European airport passenger traffic is negative for the first time after COVID recovery
ACI Europe, the European airport trade association, reported on Thursday that passenger traffic at Europe's international airports fell in April, for a?first time since recovery from COVID five years ago. This reflects?disruptions caused by _the war with Iran. ACI Europe's April 2026 traffic report showed that passenger traffic across Europe's airport networks fell by 0.7% when compared with the same month in the previous year. ACI Europe, based in Brussels, said that this 'decline' marked the first drop in passenger traffic year-on-year since Europe's aviation sector began its recovery from the COVID-19 pandemic in April 2020. * While we had already seen a normalisation in passenger traffic after the strong recovery following the pandemic, the geopolitical instabilities - notably the conflict in the Middle East -- are now further weighing down on?growth. This is exposing significant differences between performance across markets. * The rise in oil prices due to the 'war in Iran' has affected the aviation and transport sectors around the world. ADP is one of the main airport companies in Europe that are listed on the stock exchange. AENA, Fraport and Flughafen Zurich. (Reporting and editing by Toby Chopra; Sudip Kar Gupta)
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NAACP says US Postal Service voting plan violates settlement
The NAACP asked Wednesday for a federal court to resurrect a lawsuit that was filed against the U.S. in 2020. Postal Service is challenging the Trump administration’s new restrictions on voting by mail. They argue that the proposed rule of?the agency? violates an agreement requiring expedited handling mailed ballots. Last week, the Postal Service proposed a new rule that would require states to provide voter lists 'before they can deliver ballots. The NAACP argued in its motion to the District Court for the District of Columbia that the USPS rule would create a system "that directly breaches its obligations under the agreement." The group asked for a U.S. court to 'quickly intervene', claiming that the plan would "prevent millions?of?eligible?voters from receiving mail-in ballots which they are entitled." Donald Trump has said repeatedly, without evidence, that voting by mail is more susceptible to fraud. Reporting by David Shepardson & Jacob Bogage
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Mexico City is disrupted by protests and construction delays ahead of the World Cup
The World Cup kicks off in Mexico City on June 14, and the city is experiencing chaos as a result of mass protests, road closures, and construction projects. Mexico City is hosting the inaugural World Cup match between Mexico vs South Africa at Azteca Stadium in the capital on June 11. Teachers and other groups blocked major roads and marched in protest of Mexico's global attention. The protests could escalate if the government of President Claudia Sheinbaum does not address their demands. In official statements posted on social media, the CNTE, a dissident wing within the National Teachers' Union, threatened to hold mass protests during the World Cup opening. The union demands that the government honor a campaign promise to repeal a law passed in 2007 which overhauled pensions and social security for workers in the public sector, as well as raise salaries. Rodrigo Arias is a 40-year veteran teacher from Oaxaca, in the southern part of the country. "There's neglect. There is a policy that manages timelines and makes commitments which are never kept. We will continue mobilizing until our voices are heard - 'even with the World Cup looming on the horizon,' said Arias outside the Interior Ministry where the CNTE held a protest as its leaders met authorities to try and reach agreements. Insurgentes Boulevard and Paseo de la Reforma are the two busiest boulevards in the capital. Teachers were blocking roads in other parts of the capital as well, creating traffic gridlocks and frustrating commuters. On Tuesday, protesters smashed the statues of footballers that towered over Mexico City's Paseo De la Reforma. Arias stated that those responsible for the incident were not union members and that the CNTE did not seek to cause property damage or confrontation. To protect themselves, businesses on the avenue erected metal or wooden barriers by Wednesday. Sheinbaum stated at her morning press conference that she wouldn't be manipulated into provocation or ordering a crackdown against the protests. In Mexico City's downtown,?retired magistrates and judges? also demonstrated, demanding pensions and severance payments following a 2024 judicial restructuring that restructured Mexico's justice system. Armando Escobedo, a driver of a delivery truck, lamented that the traffic was causing him to lose too much time. He took a detour in order to avoid street closures. "You must be sympathetic with the teachers, but they hurt us at our work," he said. Mexico will host thirteen World Cup matches, five in Mexico City and four in each of the cities Guadalajara?and Monterrey. Mexico City has undertaken several infrastructure projects ahead of the World's largest sporting event. The Benito Juarez International Airport, Mexico City's busiest and largest airport, is still undergoing renovations. Also, repairs have not been completed to the metro system or the main avenues of the capital. A metal structure that was part of a pedestrian walkway at the airport collapsed on Tuesday, injuring an automobile. Reporting by Diego Ore, Alberto Fajardo and Stefanie Eschenbacher. Editing by David Gregorio.
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Delfin Midstream approves the first US floating LNG project
Delfin Midstream announced on Wednesday that it had made a final investment decision for the first floating liquefied natural gas (FLNG). This project is being developed in Louisiana, and offshore in Gulf of Mexico. Delfin FLNG 1, the first floating LNG facility in the U.S., is the largest FLNG Project globally. It will have an export capacity of approximately 4.4 million tonnes per year. The company is working diligently to secure FIDs over the next year for the FLNG vessels 2 and 3. A pipeline explosion near Holly Beach in Louisiana, which was expected to provide gas for the facility, delayed its construction by months. Eduard Ruijs told reporters in March that the Delfin project would have received financial approval earlier if it weren't for the explosion of the pipeline. The project has long-term LNG agreements with leading global energy companies such as?Vitol?, Expand Energy?,?Centrica? and Gunvor?. Curtis Williams reported from Houston, Sumit Saha from Bengaluru and Nathan Crooks edited the story.
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Air Canada's A321XLR delivery delays still cause system "friction"
Air Canada's COO stated on Wednesday that the carrier still experiences "friction" in the system due to delays in the deliveries of Airbus A321XLR single-aisle jets. The airline will begin flights with this longer-range aircraft?this month. Airbus and Boeing are working to increase production of new, fuel-efficient aircraft. However, airlines around the world face delays in delivering multiple models due to labor shortages, supply-chain issues, or other factors. Mark Nasr, Air Canada's Executive Vice President and Chief Operations Officer, stated in an interview that the XLR Program has been delayed by more than two years compared to what was originally?anticipated at the time of the order. Nasr spoke on the sidelines of a Montreal event to welcome the new model. Canada's largest airline plans to use XLR for routes such as Toulouse and Copenhagen. The demand for European travel is still strong, despite the rising costs of jet fuel due to the Middle East war. Air Canada has also seen a return of Canadians who flew to the United States as a leisure traveler, after this type of travel had slowed last year and earlier in 2020 due to trade tensions. Alexandre Lefevre is the VP of network planning and global sales at the carrier. Nasr said Air Canada uses its smaller A220 aircraft to service several markets in the United States. The company is waiting for Airbus' technical specifications on a stretched version of this aircraft. He said, "Once we have the final specs of the aircraft, we'll study them." He added that "one of the questions which we will?have to answer is the range?of the aircraft." This is why the technical specs are so important. "We need all the specs in order to properly study it," he said.
Worldwide air financing summit to take stock of jet shortages, trade threats
Investors and lessors who make the international air travel market tick collect for a yearly meeting in Dublin on Monday, buoyed by strong lease rates and fairly stable oil rates however facing uncertainty over jet scarcities and trade stress.
Ireland is home to the around the world aircraft leasing industry, which manages about half the world's airline fleet, and the Airline company Economics collecting offers an early chance each year to keep an eye on financial and trade risks around the world.
Leasing companies have actually seen rentals and resale values for jetliners rise as airlines try to meet brand-new demand at the exact same time as planemakers are struggling to recuperate from the COVID-19 pandemic.
For now, that means great revenues for lessors and many airlines, since shortages rise demand and fares. But there are issues over access to efficient new airplane as supply chains do not have parts and labour. Older pre-owned planes have been in strong demand to fill the gap.
The main concern for the industry is the speed at which producers will be able to ramp up shipments. That will figure out a great deal of other things, stated independent aviation consultant Bertrand Grabowski.
He said lease rates had actually started to plateau with airlines significantly unwilling to include capability at any expense.
Delegates are divided on how long the shortage will last.
Numerous lessors and observers think the market can return to an excess of capacity after 3 years approximately, Grabowski stated. Others believe the removal of some 4,000 jets left unbuilt during the pandemic will keep airline companies short of jets for longer.
Airbus is targeting production of 75 A320-family jets a. month in 2027, having pressed back the objective consistently due to. supply woes. Boeing is edging back towards 38 of the completing. 737 MAX a month - an interim ceiling enforced by regulators. following the blow-out of a door plug on a 737 MAX a year back.
TARIFF TALK
A lot of the approximately 3,000 delegates heading to the Irish. capital will also be weighing up the possible effect of the. modification of power in the United States, a week in the past. President-elect Donald Trump is sworn in for a second term.
Trump has actually assured to impose sweeping tariffs, which some. experts think could affect supply chains of aerospace and other. industries while dampening air cargo demand.
The head of the world's second-largest lessor Avolon, Andy. Cronin, stated any impact on supply chains would be unhelpful at. a time when airplane factories are having a hard time to meet need.
Avolon, a major client of both Boeing and Airbus, has said. the world's dominant planemakers will continue to deal with capability. restrictions for at least a years.
Any increased costs or difficulties that require reorienting. ... supply chains will be unhelpful to the healing of stability. because system, Cronin informed Reuters.
The airline market has seen mixed results in the last. year, obstructed by the delivery hold-ups, sluggish engine repairs,. security concerns in the Middle East and growing labour conflicts.
In December, airlines body IATA forecasted record guest. numbers in 2025, with earnings set to reach more than a trillion. dollars. However a healing of travel from China and by organization. visitors has been slower than expected.
Also under the microscopic lense, Grabowski said, is the impact of. a rising U.S. dollar on airline companies that have to spend for fuel and. airplanes in dollars but get earnings in vulnerable local currencies.
MSCI's emerging market currencies index is. trading close to six-month lows. In India, the world's. fastest-growing flight market, the rupee hit a record low on. Friday.
(source: Reuters)