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China's leading airlines warn of heavy losses in the face of an uncertain summer
China's largest airlines are facing a 'challenging' outlook for the summer peak travel season after warning of heavy 'losses' in the first half. Weaker demand has raised doubts about their ability to absorb higher fuel costs. Air China, China Eastern Airlines, and China Southern Airlines warned on Tuesday that they expect combined first-half losses of up 9 billion yuan (1,33 billion dollars). This is a stark reversal to their combined first quarter profit, which was boosted by a strong Lunar New Year market. These losses highlight the dilemma faced by Chinese airlines. Raising fares to cover higher fuel costs could further weaken demand, but keeping ticket prices low would leave carriers with the added expense. Parash Jain is the global head of HSBC’s transport and logistics research. He said that a “negative wealth effect” was reshaping Chinese consumers' habits, as?economic development slowed, and every increase in airfare risked lowering consumer demand. Jain noted that the rising ticket prices were hurting summer travel demand, and people are using high-speed rail for shorter distances. He also mentioned weather disruptions as well as a smaller pool school-aged children. "But, the most significant reason for the weaker demand has to be the higher?ticket price." Analysts at HSBC expect China's biggest carriers to suffer combined losses of 16.8 billion yuan by 2026. This is compared to the current market expectations of a combined profit of 1.3billion yuan. Air China stated in a filing to the stock exchange that high fuel prices have "dramatically squeezed" airline profits. Chinese airlines, unlike many of their Asian competitors, do not hedge much of their fuel purchase, which leaves them more vulnerable to the surge in oil prices caused by the conflict with Iran. Jet fuel prices are still about 50% higher than pre-war levels, despite the fact that they have dropped from their peak in the second quarter. Bank of America analysts stated in a report that "weak demand conditions will likely remain the main concern? heading into the summer peak period" due to the normalization of jet fuel. Chinese airlines are usually most profitable in the third quarter. Flight Master, a data-driven aviation firm, predicts that the number of passengers carried by Chinese carriers on domestic and international routes in July and august will drop 3.6% year-onyear to 142 millions. This would be the first time since 2022 that this peak season has been reduced. According to Flight Master, from July 1-14, the average number of flights per day decreased by 2.2% compared to last year. Domestic flights fell 1.8%, while international flights dropped 3.6%. The average economy class fare was 831 yuan. This is down 1.2% from last year and 6.1% lower than 2019 levels. China's domestic passenger market contracted 6.2% in May, compared to a year ago, according to the International Air Transport Association. This is the lowest performance among major domestic markets worldwide and the first decline since the pandemic that was not tied to?the timing? of the Lunar New Year. Since the beginning of the Iran crisis, the big three airlines have seen a surge in demand for European routes as travellers avoid Middle Eastern hubs that are disrupted. According to Flight Master, these gains are being eroded as Gulf carriers offer cheaper fares and restore flights.
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US leads investigation into Ryanair Boeing 737 engine malfunction over Greece
The U.S. National Transportation Safety Board announced Thursday that it will be leading the investigation into a recent incident where a passenger was partially sucked from a Ryanair Boeing 747's broken window in Greece. The NTSB stated that Greece delegated to it the leading role in the investigation. According to the Federal Aviation Administration and video, a piece of engine fell off the Boeing 737 NG shortly after takeoff from Thessaloniki, Greece on 10 July. The plane was headed for Germany when it lost pressure and had to make an emergency landing. Ljubisa karovic, a Serbian national, was pulled from the window by fellow passengers. He was hospitalized and injured. This event was similar to two?previous Southwest Airlines Boeing 737 NG flight problems in 2016 and 2018. The?latter incident saw a passenger die after being?partially sucked out of the window by a damaged fan blade. In an interview, FAA Administrator Bryan Bedford said: "I do not think that the recent Ryanair incident is similar to what the Southwest Incident was." The NTSB urged Boeing to redesign the fan-cowl structure of 737 NG aircraft after the Southwest incident. In 2023, the FAA issued a directive on airworthiness that must be completed by the end of 2028. Bedford said that the FAA's response to the incident in 2018 is being re-evaluated as a result of the ongoing investigation. "Did We Miss Something?" It's too early to say, but Bedford added that we can't remove the item from the board just yet. Southwest announced Thursday that it had completed work on 80% of the affected planes, and was ahead?of schedule in order to meet the FAA deadline?of July 2028. Ryanair's Boeing 737 NG models are powered by CFM56 engines from CFM International. The NG version of the 737 is the one that preceded today's MAX. (Reporting and editing by Cynthia Osterman; David Shepardson)
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Argentine fans book flights to the US for World Cup Final against Spain
Argentina fans bought flights to the United States within hours of the national carrier putting on special services for the Sunday World Cup final in New Jersey against Spain. This shows that Argentina is willing to pay almost any price to support the defending champions. Aerolineas Argentinas, a state-run airline, said that two special Buenos Aires to New York flights released on Wednesday evening had sold out by the morning of Thursday. The flight was priced at $5,000 for economy class and $10,000 for business class, which is far higher than the usual fares. Spain won a 2-0 victory over France in the semifinals on Tuesday, and Argentina defeated England 2-1 on Wednesday at the?Atlanta stadium to advance to the final on July 19. The title match will take place at the New York New Jersey Stadium in East Rutherford. Aerolineas website shows that there are no seats left on its New York flights until?July 21. The airline's flights from Miami to South Florida were also fully booked, according to the spokesperson. Other airlines were still marketing seats on Thursday, but mainly via connections and not non-stop special fan charters. American Airlines advertised Buenos Aires to New York fares on its website for July travel, while Copa 'and LATAM also listed Buenos Aires to New York or Buenos Aires to Miami?options. The travel company 'Despegar' said that searches for flights to New York increased by 6,000% within hours of the final whistle. This is a sign of the incredible demand created by Argentina’s bid to retain its title. The chance to watch 'Lionel Messi and his team face Spain at the World Cup has outweighed the cost to get there for Argentines. Reporting by Eliana Razewski in Buenos Aires, Kylie Madry and Christian Radnedge for Christian Radnedge.
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BHP Electrical workers support strikes at key Australian Iron Ore Export Hub
The Electrical Trades Union said that electrical workers at BHP’s Port Hedland Bulk Port Terminal voted overwhelmingly in favor of a work stoppage following four months targeted work bans. The Australian union reported that 97.5% percent of high-voltage workers supported work stops in a poll asking if they would support an unlimited number of stoppages lasting from 30 minutes to 24 hours. The union stated that the 'high-voltage electric workers maintain an electrical network which keeps BHP mine sites, worker accommodations, and Newman nearby, running. The union announced in May that workers would vote to stop work after six months of unsuccessful talks with the?management. Adam Woodage, Secretary of the Electrical Trades Union WA, said: "Like Port Hedland workers, they want fair and transparent classifica-tions, equal pay for equally hard work, and conditions that can't be changed by a manager at their whim." BHP has not responded to the request for comment immediately. After failing to agree on the terms of a four-year labour agreement, hundreds of BHP iron ore workers at Port Hedland held an eight-hour strike on Thursday. Port Hedland, a major artery for BHP, is where it routes $80 million worth of iron ore every day. This action was the biggest at BHP in at least three decades as unions try to gain a foothold in Australia's Iron Ore Regions.
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NTSB finds evidence that bird strikes occurred before fatal New York helicopter crash
The National Transportation Safety Board announced Thursday that it had 'found evidence of bird strikes before a tourist heli smashed upside down in the Hudson River, 'New York City,?April 2025 killing all six passengers. Agustin Escobar was the CEO of Rail Infrastructure for Siemens Mobility, a train transportation division of Germany's Siemens, and he died in this accident. The NTSB confirmed that evidence had been found of a bird'strike' on the Bell 206L-4 helicopter. At least two dozen helicopter operators are listed on the tour website Viator. They offer tourists a bird’s eye view of Manhattan. Many operators offer shuttle helicopter services to area airports. This was the eighth tourist flight of the day. It flew from the Statue of Liberty over to the George Washington Bridge and then turned south to fly over the Hudson River. Witnesses reported hearing loud "bangs and pops" before the helicopter broke apart and fell into the Hudson River. A witness also reported that, just minutes before, she had seen a large flock take off near the Newport lighthouse, Jersey City, New Jersey. The NTSB report stated that "when the helicopter banged, I immediately believed it was a Bird Strike." Five passengers on a helicopter in New York died when it crashed into the East River. The pilot, however, survived. The helicopter was on charter flight with an open door that allowed passengers to take photos of the skyline. After 67 people were killed in a crash between an American Airlines regional plane and an Army helicopter near Reagan National Airport, Washington D.C. in January 2025, regulators focused on helicopter safety. The FAA has restricted helicopter traffic in the vicinity of that airport permanently and also imposed restrictions on helicopters around the country. David Shepardson, David Gaffen and David Shepardson contributed to this report.
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Ontario asks for federal assistance to evacuate remote Canadian towns as wildfires ravage them
Canada is experiencing more wildfires now than in mid-July of the previous two years, and the area that has been burned has increased compared to the year 2025. The majority of fires are located in remote parts of central provinces such as Manitoba, Saskatchewan, and Ontario. In recent years, wildfires have affected remote indigenous communities disproportionately. Indigenous Services Canada reported that 1,600 people had been evacuated due to fires in First Nations communities as of July 15, 2015. CBC News reported that the Namaygoosisagagun First Nation in northwestern Ontario, also known by its former name Collins First Nation was evacuated Monday following a rapid-moving fire which swept through an area near 'Armstrong', located more than 500 km (310 miles), north of Toronto. Video showed community members going door-to-door to warn residents. Then, as the flames approached their homes, more than 20 people and their pets escaped on boats. Helen Paavola, chief of the community in question, told CBC that it was all destroyed within an hour. According to Ontario's Aviation Fire and Emergency Services, the wildfire that affected the Armstrong area, which included Namaygoosisagagun?and Whitesand First Nation nearby, had reached more than 350,000 ha by Thursday. Jill Dunlop said, "In response?to the significant threat of wildland fire activities in northern Ontario, Ontario has issued a Request for Assistance. The province is prepared to expedite deployment of federal resources that will support evacuations." She added that the Canadian Armed Forces were among those who would be able to help. Prime Minister Mark Carney stated that the federal government will continue to work closely with its provincial and municipal counterparts, and provide any additional assistance needed. According to the government, there were 859 fires burning across the country as of Thursday. 113 were deemed out-of-control. 2.384 hectares (5.89 acre) of land have been burned so far. Carney stated on Wednesday that "the wildfire situation in Canada has deteriorated dramatically over the past three weeks, particularly in Northwestern Ontario." "Thousands of people were forced to leave their communities because they didn't know if their houses would survive." Canadian National Railway?said that employees and residents in the town of Armstrong had been evacuated Monday night following a viral video posted on social media showing a CN Train surrounded by a?fire? in the surrounding area. CN announced that it had temporarily suspended rail operations in the vicinity of Armstrong due to a?wildfire'. Fury Gold Mines, based in Vancouver, announced on Wednesday it had suspended exploration and drill at its Eau Claire Project in northern Quebec following the evacuation of all personnel because of a nearby forest fire. Green Technology Metals is an Australian-listed company that focuses on lithium exploration. It has a mine near Armstrong. Green Technology Metals did not reply to an email asking if it evacuated staff. The majority of gold mines in northern Ontario are located away from the fires. Thunder Bay is the largest city in Northwest Ontario and has many wildfire evacuees.
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Carney: Canada won't share bridge tolls until US debt is repaid.
Mark Carney, the Prime Minister, said that Canada would not share toll revenue with the United States until Canada had recovered its initial investment. The delay in opening the Gordie-Howe bridge, which was paid for by Canada has caused tensions between the United States, and Canada. This is at a time when the two countries are trying to update their trade agreement. Donald Trump, the U.S. president, said last week that he had negotiated "a better deal" with Canada to enable the U.S. bridge's July 27 opening. Carney was criticized by political opponents for caving in to the U.S., after American officials claimed that they had "gone from receiving no revenue" to a significant amount of revenue. Carney told a Thursday press conference that the agreement between Michigan and Canada on the Gordie-Howe bridge was unchanged since 2012, when Canada agreed pay for the bridge. According to the deal, Canada had the right to keep all toll revenues until it recovered its bridge investment costs. Carney said that any sharing of?toll revenues will not happen until the entire debt has been repaid. Carney added that Canada and the U.S. would share net revenues during the first fifteen years, after operating costs such as maintenance and snow removal. He said that he expected net revenues to be modest for the first couple of years after these costs. "When the splitting starts, all the portions that are going to the U.S. Government will be reinvested?into economic development." Details of the agreement reached between Canada and the U.S. are not public. Two sources said that a deal was reached last week, and the U.S. It would receive 50% of the toll revenue profit and be able veto any toll increase that is 10% higher than current tolls. Fen Hampson is a professor at Carleton University who specializes in international affairs. He said that the deal represented a win for Canada. If you do the math on when Canada will split the revenues, it won't leave much to?split." Carney said that it was in Carney's interest that Americans thought they forced a Canadian concession. It's better for Trump to think that he has won, or else he could be vindictive. Shuvaloy Majumdar, a Conservative Member of Parliament from the opposition, called it "a terrible?deal" in a letter he sent to government last week. Majumdar wrote: "Canadians are entitled to the complete agreement, an accounting of all costs and a clear explanation about what was given."
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US networks are faced with a dilemma about whether or not to broadcast Trump's speech on election security
U.S. TV networks are considering whether or not to broadcast a planned address by President Donald Trump on Thursday, who will reportedly?focus his remarks on the security of elections, four months before?critical midterm election. Most of these speeches have been broadcast on television because they are considered to be important for the public. Reports on Wednesday said that the White House was considering using the speech as a way to reveal sensitive intelligence about China's intent or ability to influence the 2020 U.S. elections. Some Trump officials are concerned this could be misleading. Karoline Lavitt, White House Press secretary, said during a press briefing on Thursday that it is "also very likely" that Trump will address the current economic situation and Iran at the beginning of his speech. She said it is "all the more reason" that the networks should broadcast the speech in real time and Americans should tune in. Trump has spent many years sowing doubts over the outcome of elections, falsely claiming that his loss to Democrat Joe Biden in 2020 was rigged. Trump has claimed, without any evidence, that mail-in votes are rife in fraud and voting machines can be manipulated. Non-citizens voting is also widespread. Democrats such as U.S. Rep. Alexandria Ocasio Cortez have asked networks to not air the speech. They claim Trump will likely?repeat false claims. The three?major U.S. television networks - ABC, CBS, and NBC - did not answer questions regarding whether or not they would be broadcasting the speech live. CNN and Fox News did not reply to requests for comment. Refusing to broadcast the speech could anger an administration which has already put unprecedented pressure on major broadcast networks. Walt Disney's ABC faces two pending Federal Communications Commission inquiries, one of which examines whether the daytime talk show 'The View' violated equal time rules by interviewing Democratic Senate candidate in Texas. Trump has attacked NBC, and Comcast (which he calls "Concast"), repeatedly. He stormed out last month of an interview with NBC's political reporter Kristen Welker, after calling it "a one-sided crooked" network. Comcast?announced plans to split into 2 publicly traded companies by a spinoff NBCUniversal Sky. Analysts?have stated that the move could'make NBCUniversal a takeover target. The takeover of Paramount, by David Ellison - whose billionaire dad Larry is an ally of Trump - has caused a stir in the CBS newsroom, and led to the departure of senior staffers from "60 Minutes". Several employees have claimed that political influence was used to make editorial decisions. The network has denied this claim. Ellison now awaits FCC approval of Paramount's purchase of Warner Bros. Discovery could allow him to control CNN, which Trump has long criticized as unfair. Last month, the?Antitrust Division of the U.S. Justice Department approved this deal. The ?conservative-leaning cable news network Fox News, owned by Rupert Murdoch, generally carries all of Trump's speeches but may also be wary of this one. The network was ordered to pay $787 million in 2023 to settle a lawsuit for defamation over false claims it made about the 2020 elections. (Reporting Helen Coster, Additional reporting Edmund Lee; Editing Alistair Bell).
Spain's eDreams sees core profits almost doubling by 2026
Spanish online travel reserving company eDreams ODIGEO on Friday said it anticipates its core earnings to almost double by 2026 as it keeps adding more paying subscribers to its premium service.
The company anticipates its money revenues before interest, taxes, depreciation and amortization to increase to in between 215 million euros ($ 223.69 million) and 220 million euros in the fiscal year ending on March 31, 2026, it said in a discussion to financiers, up from 121 million euros in the period ending in March 2024.
While memberships are common in other markets, such as music, tv and telecoms, eDreams originated the design for the travel market. Paying subscribers have access to additional discount rates on airline companies and hotel reservations on eDreams' sites.
Over the previous few years, the membership programme has become the company's primary chauffeur of profitability.
The company anticipates to raise its variety of paying subscribers to 8.25 million by the end of March 2026 up from 6.5 million at the end of September 2024.
It stated it then expects the number of subscribers to increase a minimum of 10% in the following two years.
(source: Reuters)