Latest News
-
Last minutes of Jeju Air flight prior to South Korea's worst air disaster
South Korea is investigating a crash that occurred on December 29, at Muan Airport, resulting in the death of 179 people. This was the worst air disaster to ever occur on South Korean soil. Following are the last minutes of Flight 7C2216, gathered from South Korea's Transport Ministry and Fire Authorities, as well as a July 19, update from investigators. All times are Korea Standard Time. 8:54.43 am - Jeju Air 7C2216 contacts Muan Airport air traffic control during its final approach. It is cleared to land on the runway 01 which is oriented 10 degrees north east. 8:57.50 am - Air traffic Control issues "caution-bird activity" warning. 8:58.11 a.m.: Jeju Air's pilots mention spotting birds below the aircraft. 8:58.26 am - The aircraft aborts its landing attempt, then hits birds as it circles back to make another landing. This is known as a "go-around". Both engines were still vibrating. The right engine was also experiencing a surge that produced large flames and black smoke. 8:58.45 am - The left engine is stopped by the pilots while they are performing emergency procedures. According to the July 19 update, the cockpit voice recording (CVR), the flight data recorder(FDR), and an inspection of the engine were the proof. 8:58.50 am - The FDR and CVR of the aircraft stop recording. The aircraft's "black boxes" are no longer recording at this time. It is currently flying at 161 knots (185 mph or 298 kph) and at 498 feet (152 meters). 8:58.56 a.m.: Flight 7C2216's pilot declares an emergency Mayday due to a bird striking during a go-around. Flight 7C2216, during the go-around request clearance to land at runway 19, the opposite end of airport's one runway. 9:01 am - Air Traffic Control authorizes landing on runway 19. Flight 7C2216 contacts the runway at 9:02 am, approximately 1,200 meters (3,937 feet) from the end of the 2,800-meter (9,186-foot) runway. The landing gear was not lowered, and the plane lands flat on its back. 9:02 a.m.: Air traffic control sounds the "crashbell" to alert airport fire rescue. 9:02:55 a.m. - Airport fire rescue unit completes deploying fire rescue equipment. 9:02:57 am - Flight 7C2216 crashes after it overshot the runway. Airport authorities report an accident to the Transport Ministry at 9:10 am. 9:23 am - A male was rescued and taken to a temporary facility for medical treatment. Closed airport at 9:38 am. 9:50 am - A second person is rescued from the tail section of an aircraft. Reporting by Jihoon, Lee, Hyunjoo, Jin, Ju-min, Park, Hyonhee, and Lisa Barrington. Writing by Jack Kim. Editing by Stephen Coates, Jamie Freed, and Jamie Freed.
-
Investigation update: Jeju Air jet had a functioning engine at the time of its crash.
According to a new update by South Korean investigators, a Jeju Air aircraft that crashed during an emergency landing in December after a bird struck could have continued flying on the damaged but still functioning engine after the pilots had shut down the other. The Boeing 737-800 belly-landed on Muan Airport without its landing gear, overshot runway, and erupted in a fireball, after slamming against an embankment. All but two of 181 passengers were killed. Although the investigators haven't yet released a final report on the worst air disaster to hit South Korea, information has started to surface about the planes' two engines. According to an update from investigators dated July 19, which was seen but not released publicly following complaints by victims' families, the left motor suffered less damage than the other after a bird struck, but it was shut down only 19 seconds later. In a five-page report, investigators confirmed that the right engine had generated enough power to fly. The update also included photos of both engines after the crash. The crew did not give a reason for their actions and it is expected that the investigation will last several months, as investigators reconstruct both the technical state of the plane and what its pilots understood. Experts warn against placing too much emphasis on incomplete evidence. They say that most air accidents can be attributed to multiple factors. More Questions The public has so far focused its attention on the possibility that crew members may have accidentally shut down a less-damaged aircraft engine. This brought back memories of a 1989 Boeing 737-405 crash in Kegworth (England) where pilots mistakenly shut down a nondamaged aircraft engine. Multiple changes were made to the regulations in response to this disaster, including improved crew communication and emergency procedures. Sources told reporters on Monday that South Korea's investigation had "clear proof" that pilots shut off the left engine that was less damaged after the bird struck. They cited the cockpit voice recording, computer data, and a switch that had been found in the wreckage. The latest information on the crash raises the possibility, however, that the heavily damaged engine still running may have been able to keep the plane in the air for longer. The report did not specify what level of performance was left in the engine, or what additional options it might have provided to the emergency crew of the jet before it reverted back and landed with its landing gear raised on the opposite side of the runway than its original plan. Both engines had bird strike damage, and both engines experienced vibrations following the strike. The Korean-language update of South Korea's Aviation and Railway Accident Investigation Board, ARAIB, said that the right engine had significant internal damage. However, it did not mention the damage found in left engine. When shown the document, former U.S. National Transportation Safety Board Investigator Greg Feith said that the update didn't say how the left motor was operating or the state of the systems connected to either engines. He said that the document contains a few new facts, but leaves out many more. This results in a "cryptic", or confusing, document. ARAIB did not respond immediately to a comment request. The ARAIB plans to release a final report in June next year. Experts in safety say that it's common for early reports of investigations to have sparse information and limited analysis. In a preliminary report published in January, it was reported that feathers and bloodstains from ducks had been found in both engines. The report stated that the engines, made by CFM International and jointly owned by GE France and Safran, were examined in May. No defects or fault data was found, other than bird and crash damages. The families of those killed in the accident were informed about the findings regarding the engines, but they asked that the investigators refrain from releasing the report dated July 19, claiming it seemed to assign blame to the pilots while ignoring other factors. South Korean media received copies of the report despite it being withheld. Boeing and GE referred all questions regarding the crash to ARAIB. Safran didn't immediately respond to an inquiry for comment. Jeju Air previously stated that it was cooperating with ARAIB, and is awaiting the publication of its investigation. Civil air investigations are conducted in accordance with international aviation regulations to determine the causes of crashes without blaming or putting anyone at fault. The Jeju Air Pilots' Union said ARAIB "misled the public" when it suggested that there was no issue with the left motor, given that bird feces were found in both. Sources who attended the briefing said that investigators informed family members of the black box data indicating the left engine experienced a "surge" as well. The pilot union, as well as representatives of bereaved family members, have requested that any evidence supporting findings be made public. Safety experts say that the embankment with navigation equipment is likely to have contributed to the high death rate. According to global aviation standards, any navigation equipment installed along runways must be mounted on structures that are easily deformable in the event of an impact with an airplane. The South Korean transport ministry identified seven airports in the country, including Muan Airport, that have structures made from concrete or steel rather than materials which break apart when struck, and said they will be improved. A ministry official said last week that the designs for new structures were in progress.
-
First passenger flight between Moscow and Pyongyang in many decades
Russian authorities announced that on Sunday, Russia would launch direct passenger flights between Moscow and Pyongyang, the capital of North Korea. The two former allies are working to improve their ties after Russia's invasion in Ukraine in 2022. According to Russian aviation blogs the start of regular flight service between the capitals is the first since the mid-1990s. This follows the return of passenger rail services from Moscow to Pyongyang, a 10 day journey, which resumed in June. According to the airport timetable, the first flight leaves Sheremetyevo Airport at 7 pm (1600 GMT). RIA, the Russian state news agency, announced on Sunday that a Boeing 777 200ER aircraft with a seating capacity of 440 people will operate the eight-hour flight. Tickets started at 44.700 roubles (about $563) and the first flight was quickly sold out. Rosaviatsia, the Russian civil aviation authority, has given Nordwind Airlines permission for flights to be operated between Moscow and Pyongyang two times a week. In a press release, the transport ministry stated that flights will be operated once a week for now "to build stable demand". Air Koryo, a North Korean airline, has flown to Vladivostok three times per week in Russia's Far East. Ukraine and its Western Allies accuse North Korea of supplying Russia artillery and missiles. Both Moscow and Pyongyang have denied the accusations. Pyongyang has sent more than 10,000 troops, weapons and other equipment to Russia in support of Moscow's military operation in Ukraine. North Korean leader Kim Jong Un stated this month that his country is ready to "unconditionally" support Moscow's efforts in Ukraine.
-
Russia claims that Volgograd's railway power supply was disrupted following the drone attack by Ukraine.
The Volgograd administration said that falling debris from destroyed Ukrainian drones has disrupted rail power supply in a part of the Volgograd Region. The administration, citing Governor Andrei Bocharov, said that there were no injuries in the attack by the Ukrainians. Rosaviatsia, the Russian civil aviation authority, announced on Telegram on Sunday that flights had been suspended at the airport of Volgograd. Volgograd is the administrative center of the Volgograd Region. It was not immediately apparent the extent of damage or the scale of this attack. According to Telegram posts from regional officials, air raid alerts have been issued in other areas of Russia's west, south and east, warnings about a Ukrainian drone strike.
-
Union Pacific closes deal to buy Norfolk Southern, Bloomberg reports
Bloomberg News, Friday's report, citing sources familiar with the situation, reported that Union Pacific, America's largest railroad operator, may reach an agreement early next week to buy rival Norfolk Southern. Union Pacific announced on Thursday that it was in advanced discussions to acquire its competitor, signaling a possible deal to create a $200 billion coast to coast rail company. This could trigger further consolidation of remaining freight rail giants. Union Pacific refused to comment while Norfolk Southern didn't immediately respond to an inquiry for comment. The merger, which would represent the largest ever buyout of the sector, would Create your own The first modern single-line West-to East freight railroad in the United States has a significant impact on how goods are transported across the country, from grains to chemicals and autos. Many in the rail industry, as well as Wall Street, were surprised that the talks have advanced. The U.S. freight railway system is already divided into two regional duopolies based on the point of origin. The talks reveal how the thinking on antitrust issues changed under the Trump administration. His executive orders were aimed at removing barriers to competition and opening up the door for potential megamergers. The deal, if completed, would combine Union Pacific’s dominant position in western two-thirds U.S. states with Norfolk Southern’s 19,500-miles network that spans 22 eastern states. According to LSEG, Union Pacific has a value of approximately $138 billion. The company is struggling with low automotive volumes, volatile coal shipments and power producers switching to natural gas via pipeline. Norfolk Southern is valued at $63 billion and is coming out of a turbulent time that saw the removal of its former CEO in the wake an ethics investigation, a high profile boardroom conflict with activist investor Ancora and a costly derailment train that cost the company $1.4 billion.
-
Two Southwest flight attendants are injured after a jet moves to avoid another aircraft
Southwest Airlines said that two flight attendants were injured on a flight leaving Burbank, California on Friday. They are being treated after the pilots took evasive actions to avoid another plane. Southwest Flight 1496, according to flight-tracking websites, descended sharply by 500 feet. After receiving an alert about a possible collision, the airline and Federal Aviation Administration confirmed that pilots acted. Southwest Boeing 737 continued to Las Vegas where it landed without incident. The FAA is conducting an investigation. There were no injuries, but Caitlin burdi, a passenger who identified herself as Fox News Digital reported that the sudden descent caused panic. She was quoted saying, "We thought we were going to crash into a plane." Southwest released a statement that said the incident started when the crew of the plane responded to "two traffic alerts onboard" as they took off from Burbank. "They were required to climb and descend in order to comply with these alerts." This incident occurred a week after SkyWest Airlines, operating as Delta Connection from Minneapolis, reported that it had taken evasive actions to avoid a collision with an U.S. Air Force Bomber during the landing approach in North Dakota. The FAA announced on Monday that it is investigating the near-miss last Friday involving SkyWest Flight 3788. This regional jet was an Embraer ERJ-175 and landed safely in Minot, North Dakota. The Air Force confirmed that a B52 aircraft from Minot Air Force Base flew over the North Dakota State Fair on Friday. Military investigators are looking into this matter. (Reporting and editing by Chris Reese in Washington, David Shepardson from Washington)
-
Greek port workers are jailed while they await trial for drug smuggling
Legal sources reported that six workers in Greece's biggest port Piraeus were arrested on Friday for allegedly being part of a gang involved in the smuggling of cocaine concealed in shipping containers imported from Latin America. They have been jailed until their trial. This is the third case since 2023 where port workers have been arrested on charges of drug trafficking. On Monday, the suspects were arrested. They worked for a private cargo company in Piraeus. According to police officials, they answered charges on Friday including membership in an international criminal organization at least since 2024. They deny any wrongdoing. Police said that the drugs were hidden in containers that were loaded with bananas and shipped from Ecuador. The Greek police confirmed that the U.S. Drug Enforcement Administration had tipped them off about the investigation. It revealed the tactics of the gang and also included the surveillance of their communications. Police officials reported that the criminal ring led by an Albanian group exploited workers' knowledge and access to port facilities, as well as their familiarity with loading and unloading procedures. Officials added that the alleged gang members had been tasked with finding the ships and extracting cocaine parcels from containers. One of them was also in contact with drug buyers in Albania. During the operation, three guns and bullets have been confiscated. Nikos Aletras, the defence lawyer, said that the investigation was rushed and the charges were more serious. Seven suspects responded to the allegations before a prosecutor in court on Friday. Six of the seven suspects were detained and will be tried in due course. A seventh was released. South American cocaine production has risen over the last decade. Traffickers have helped turn Europe into an important transit and consumer of cocaine. Since 2017, European countries have seized record amounts of cocaine each year. Reporting by Yannis Souiotis, Writing by Renee Maltezou and Editing by Diane Craft
-
Oil loadings in western Russian ports to fall in August
The differentials between Brent and Urals crude were not much different on Friday. However, the falling oil loads from Russia's western port in August helped to support this grade. The daily Russian oil exports to the ports of Primorsk (Ust-Luga), Novorossiisk and Ust-Luga are expected to reach around 1,77 million barrels a day in August. This is down from 1.93 millions bpd as planned in July, due in part, because of the anticipated increase in refinery runs. The daily oil loadings in these ports, including Urals and Kazakh KEBCO as well as Siberian Light grades of oil will decrease by 8% from the current month. Four sources familiar with the situation said that the Russian-backed Indian refiner Nayara Energy named a new CEO after the previous one resigned due to sanctions imposed by the European Union against the company. PLATTS WINDOW On Friday, no bids or offers for Urals BTC, Azeri BTC Blend or CPC blend were made in the Platts Window. * The Organization of the Petroleum Exporting Countries said that the Joint Ministerial Monitoring Committee (JMMC), which is scheduled to meet on Monday, has no decision-making power over production levels. Diane Craft (Reporting)
Companies withdraw their guidance in the wake of Trump's tariffs
The tariffs that President Donald Trump imposed on April 2, and the subsequent pauses in some cases, have created uncertainty among companies around the world. Some of these companies have withdrawn or stopped giving financial guidance.
This is a list that includes companies who have taken such steps:
AUTOS & TRANSPORTATION
AUTINS GROUP A UK-based company that sells car components delayed its release of market guidance for the month of April, citing the uncertainty created by U.S. Tariffs.
CUMMINS The U.S. truck engine maker withdrawn its annual forecast on 5 May.
Ford The U.S. automaker suspended its annual guidance May 5 after claiming that the levies will cost the company approximately $1.5 billion before interest and tax in adjusted earnings.
GENERAL MOTORS On May 1, General Motors, the U.S. automaker, cut its profit forecast for 2025 two days after removing its annual guidance despite reporting strong quarter results and receiving some clarity on automotive tariffs from the White House.
It also suspended plans to purchase $2 billion worth of shares during the first half year until the economy is more clarified.
MERCEDES On April 30, the German group retracted its earnings guidance for 2020 after it reported a sharply lower first quarter profit.
POLESTAR On April 30, the U.S.-listed Swedish electric vehicle maker put a pause on its 2025 forecast as it prepares for possible tariffs.
STELLANTIS The French-Italian-American group on April 30 suspended its guidance for a moderate recovery this year, after a profit drop in 2024, and said it would review capital spending plans.
VOLVO CARS On April 29, the group, which is one of the European automakers most vulnerable to U.S. Tariffs, announced a cost-cutting program of 18 billion Swedish crowns (about $1.9 billion), a restructuring of their U.S. operations, and it retracted its earnings forecasts for the next two year.
AEROSPACE AND DEFENSE
ALASKA GROUP ALASKA Air Group, Seattle's airline, withdrew on April 23, its financial forecast for the full year citing macroeconomic uncertainties.
AMERICAN AIRLINES On April 24, the U.S. carrier canceled its financial forecast for 2025.
JETBLUE AERIALWAYS On April 29, the U.S. airline group canceled its forecast for 2025, citing economic uncertainty as a reason.
DELTA AIR LINES On April 9, the U.S. airline retracted its financial forecasts for 2025. It said that travel demand has "largely stalled", as tariffs have fueled economic uncertainty.
FRONTIER GROUP On April 11, Frontier Airlines' parent company, Frontier Group, retracted its full-year outlook and warned that it would suffer a loss for the first quarter.
SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWAST AIRLINES SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEAT AIRLINES SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST ASIA The U.S. airline group canceled its financial forecasts on April 23
HEALTHCARE
BELLUSCURA On April 8, the U.S. medical device manufacturer retracted its 2025 guidance due to U.S. Tariffs on China.
UNITEDHEALTH GROUP The Company suspended its annual forecast because of surging medical costs, while CEO Andrew Witty resigned May 13.
Retail and Consumers
AMERICAN OUTFITTERS - The apparel company retracted its annual forecasts from May 13 because of economic uncertainty fuelled by tariffs.
Beyond Meat
The California-based company retracted its annual sales goal on May 7,
Citation
Weak consumer demand in the U.S. due to macroeconomic volatility, high inflation and macroeconomic volatility.
CHARACTER GROUP On April 11, the British toymaker abandoned its annual forecast, saying that it expected tariff effects to be felt on China in the second half 2025.
CROCS On May 8, the U.S. shoemaker retracted its outlook for 2025 due to macroeconomic uncertainty.
Krispy Kreme
The doughnut chain
Withdrawal
McDonald's released its 2025 projections on 8 May due to the macroeconomic weakness and uncertainty surrounding the McDonald's deployment schedule
DIAGEO On February 4, the British spirits manufacturer retracted its forecast for medium-term growth in organic sales, citing a long-lasting decline in demand as well as uncertainty about tariffs.
LOGITECH, a Swiss-American manufacturer of computer parts, canceled its forecast for 2026 on April 10 citing uncertainty arising from Trump's policies. It kept its 2025 forecast.
MASCO CORP On April 23, the U.S. house improvement company retracted its annual profit forecast after it missed first-quarter profit and sales estimates. This was due to macroeconomic uncertainty caused by Trump's tariffs.
MATTEL On May 5, the Barbie doll producer retracted its annual financial target, adding that it would raise prices in the U.S. for certain products to offset higher input costs as a result of Trump's tariffs against key trading partners.
SKECHERS
On April 24, the footwear manufacturer retracted its annual results projection, citing Trump's unpredictable trade policies as fueling economic uncertainty.
SPECTRUM BRANDS
The retailer said that on May 9, it did not have enough visibility to continue to provide a 2025 earnings framework.
SPIN MASTER
The Canadian toy manufacturer retracted its 2025 outlook on the 29th of April until the climate stabilizes.
STEVEN MADDEN
The U.S. footwear maker retracted its guidance for 2025 on May 7 citing uncertainty over the impact of tariffs on imported goods into the U.S.
OTHERS
ALPHAWAVE IP GROUP On April 17, the British semiconductor company announced that it could not provide a financial outlook for 2025 and beyond due to global economic uncertainty caused by U.S. Tariffs.
Arm HOLDINGs
Due to the uncertainty of global trade and economy, the UK-based chip manufacturer decided to not issue full-year guidance as of May 8.
AVERY DENNISON On April 23, the U.S. company, which manufactures packaging and labels products like radio frequency tags, retracted its annual forecast, adding that it would now be shifting to quarterly estimates due to macroeconomic uncertainty.
PAGEGROUP PAGEGROUP, a British recruiter, did not provide a financial outlook in its quarterly report on April 9, citing "increasingly uncertain" economic conditions.
(source: Reuters)