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Honeywell's revenue and profit increase as demand for aerospace aftermarket products remains strong
Honeywell reported a higher fourth-quarter profit and revenue on Thursday. The industrial giant's stock rose 4.5% as a result. Delays in aircraft deliveries are causing airlines to extend the flight time of their jets, increasing demand for parts and services, and turning aftermarket business with high margins into the main profit engine for the aerospace sector. Honeywell's aerospace business has been under pressure due to high costs and global trade tensions. However, it has managed to keep its prices constant across all of its products. Sales of its Aerospace unit increased 13.4% to $4.52 billion in the fourth quarter. Honeywell reported a per-share adjusted profit of $2.59 in the third quarter, up from $2.22 one year ago. According to data compiled from LSEG, analysts estimated $2.54 a share. Honeywell's results are a positive end to a productive year. Honeywell announced the breakup of their large conglomerate into three independent companies focusing on aerospace, automation and advanced materials. The company anticipates completing the separation of its aerospace and automation businesses in the third-quarter. Honeywell has also completed a strategic review for two of its businesses, which cater to the transportation and logistics industry. It intends to sell these companies in the first half 2026. Analysts expect a profit of $10.38, but it expects a profit between $10.35 to $10.65. The overall quarterly sales rose 6.4%, to $9.76 billion. However, they fell short of the $9.85 billion estimate. DATA CENTERS ARE KEY CATALYST Several industrial firms, including Dover, Caterpillar, and GE Vernova have cited the surge in demand?from AI powered data centers as a recent growth driver. Honeywell's data-center position in the building automation segment is slowly becoming material. Vimal Kapur, CEO of Honeywell, said that the company is "inching" towards a revenue share greater than 5%. Honeywell offers cooling, building control, fire safety and security systems for data centers. Reporting by Aatreyee dasgupta, Bengaluru. Editing by Shilpa Majumdar
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Royal Caribbean increases annual profit forecast due to strong demand; share prices jump
Royal Caribbean announced a profit forecast above Wall Street expectations on Thursday. This was due to the strong demand from wealthy travelers, and an excellent start to a busy booking season. Royal Caribbean shares jumped by about 16% in early trading as the cruise operator forecasts double-digit revenue increases for 2026. Royal Caribbean reported that the first Wave weeks, which is the period from January to March when cruise operators offer exclusive deals and promotions, were some of its best ever. This was because wealthy customers are continuing to prioritize sea-based holidays. Jason Liberty, CEO of WAVE said that the company is off to an excellent start. We continue to see a growing preference for leading brands and unique vacation experiences. Royal Caribbean announced that two-thirds (or a record) of its capacity for 2026 has already been booked at record prices. They also said that pre-cruise and onboard purchases are still ahead of previous years. To attract more passengers and increase onboard spending, the company has invested in a number of new ships and exclusive destinations on land. These include the Royal Beach Club Santorini as well as expanded itineraries for "Star of the Seas", "Celebrity Xcel" and other "Star of the Seas". Royal Caribbean announced that it has signed new agreements with France's Chantiers de l'Atlantique to build its upcoming Discovery Class ships and said Celebrity Cruises would add 10 additional river ships. In the morning, Norwegian Cruise rose 9% and Carnival 6.6%. Viking Holdings also rose 3.8%. In December, Carnival Corp. also raised its profit forecast for the year based on a similar strategy of higher ticket prices and resilient demand. Royal Caribbean's adjusted earnings per share (EPS) for the first quarter is expected to be in a range between $3.18 and $3.28. This is higher than analysts' expectations of $2.91. Fuel expenses are expected to be $1.17 billion for the full year. LSEG data shows that it forecasts a profit adjusted per share of between $17.70 to $18.10 for fiscal 2026, compared to analysts' expectations at $17.66. Revenues for the fourth quarter increased by about 13%, to $4.26billion from a year ago. (Reporting by Sanskriti Shekhar in Bengaluru ; Editing by Tasim Zahid)
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Historic Alexandria tramway to close ahead of contested overhaul
The doors of the blue-and white trams creak as they rattle into the large square at the center of Alexandria. Many passengers can recite each stop off by heart. But the clatter of single and double-deck trams along this century-and-a-half-old ?line - a source of civic pride and transport alike for tens of thousands of daily commuters ?in Egypt's ?second city - is soon to be stopped. Next week, the authorities will begin a major renovation to replace the trams that have been in service for nearly 14 kilometers (9 miles) with a light rail system controlled digitally. This is one of many projects under the President Abdel Fattah al-Sisi's broader initiative to modernize Egypt's rail and road networks. According to the National Authority for Tunnels, the renovations will roughly double speed and reduce travel time from end-to-end along a similar path by more than?half an hr. They should also increase passenger capacity. Some commuters are happy about the plan for renovation, but others worry it could cause congestion, increase ticket prices, or that work that was planned to take two years could be extended. Many mourn the loss of a treasured feature of the Mediterranean city. Fatma Hussein is a retired agricultural engineering who has been riding the trams since she was a student. It's our history, our memories. Why stop developing it? Why deprive students, employees and people who use the system every day? CLIMBING IN BETWEEN FLOORS The Raml tram line, which was launched in 1860, is a rare example of a double-decker tram. The wide?carriage window frames Alexandria's tree lined streets, dilapidated apartments blocks and historic villas. Standard tickets are only five Egyptian pounds ($0.10) and remain an affordable option, even for students, workers and pensioners, despite the rising cost of living. Alaa Khaled is an Alexandrian novelist who grew near a tramline. He recalls making rides with his father into a game, and climbing up the tram floors to get a different view of the city. "Even today, I still travel the entire route and look at the trees and villas as a window into the history of the town, or sit down and just read," he stated. Yasmin Kandil, an urban mobility expert and architect, is concerned that the project will prioritize vehicles and speed, while distorting aesthetics in the city. CONGESTION CONCERN Residents' fears have been fueled by the suspension of the local Abu Qir railway line for conversion to a metro, which commuters claim worsened traffic and left travellers scrambling to find alternatives. The authorities say that they will use replacement buses to minimize disruption during construction of the light-rail. The National Authority for Tunnels which is responsible for the tram and its renovation did not reply to a request for comment. A request for comment was not answered by the National Authority for Tunnels, which manages the tram and its renovation. The European Investment Bank provides 138 million euro ($165 million) and the total cost is listed at approximately 592 million euro ($708 millions). The French development agency also provides financing. Alexandria also has a tram line called the City Line. This tram has more modern trams, and is not yet scheduled for renovations. Mahmoud Ramadan is a 52-year old tram driver who has been working on the tram network in the city since 1997. He met his wife while on the job. He said, "Not everyone is going to understand." It's been your home for 30 years. (Reporting and editing by Aidan Lewis; Mohamed Ezz and Mariam Rizk)
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Spain's government defends rail investment record after deadly crashes
Spain's Transport Minister said Thursday that his government has increased spending on?the rail network after years underinvestment. He was being grilled by senators about a series of recent train accidents. One of them killed dozens. A high-speed train crash on January 18 in southern Spain left 45 dead, while a derailment in Catalonia two days later killed a driver. This led to a public and political scrutiny of rail spending, safety and maintenance. Oscar Puente was booed by opposition legislators shouting "resign", when he walked up to podium. He said that maintenance spending per km had increased 66% since 2017 and is now at or above European?average. He said that France spends a little more while Italy spends a little less. Data from the European Commission and industry experts questioned whether investment in maintenance has kept up with Spain's growing rail network and increasing passenger numbers. Puente disagreed. He said that Spain has invested about 30 billion euro ($36 billion) less between 2010 and 2018, than it would have had the spending levels pre-financial crises been maintained. The conservative People's Party was in power between 2011 and 2018, cutting spending across the board amid a push by the EU for austerity, while Spain suffered a severe debt crisis after a housing bubble burst. The total annual rail investment?has increased to approximately 5 billion euros ($6billion) by 2025, from around 1.7 billion euro in 2017, according to Puente of the ruling Socialist Party.
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Air India converts a part of its Airbus order into XLRs and orders 30 Boeing narrowbodies
Air India announced on Thursday that it has ordered 30 Boeing narrowbody jets and converted a part of its A321neo A321XLR order with Airbus into 15 long-range A321XLR aircraft, adding momentum to Air India's turnaround effort. The announcement at India's Civil Air Show in Hyderabad is an unusual bright spot for?the formerly state-owned carrier, which has been under regulatory scrutiny since a deadly crash occurred last year?and after a series of safety lapses. Air India has ordered 20 737 MAX 8, and 10 737 MAX 10, from Boeing. This brings its total order with the U.S. planemaker to 250. Boeing stated that the purchase is an exercise of options already in place. Air India, IndiGo's rival airline in India, is now the second Indian carrier to purchase the long-range aircraft after Air India. Airbus has said that deliveries of 15 XLRs will take place between 2029 and 2030. Air India ordered 250 Airbus aircraft and 220 Boeing in 2023, after being purchased by Tata Group last year from the Indian Government. Air India ordered additional Airbus aircraft in the year 2024. Air India will be able to expand its long-haul routes by adding the XLR, Airbus’ longest-range single aisle jet. Air India must secure new aircraft to counter years of underinvestment and regain market share from global competitors. Last year, it was reported that Air India had been in discussions with two aircraft manufacturers to purchase up to 300 new planes, including 200 narrowbodies. Reporting by Kashish Tandon, Nandan Mandayam and Abhijith Gaapavaram; editing by Mrigank Diwala, Mark Potter
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Chinese refiners are rushing to buy Russian ESPO Blend oil as discounts on the product narrow.
The discount on Russian ESPO blend crude oil for cargoes loading in March has narrowed due to the brisk Chinese demand. Buyers rushed to secure barrels, while Indian refiners remained wary of Western sanctions. Four trade and industry sources report that Russian ESPO blend cargoes loaded in March were traded at a price of?about $7 to $8?per barrel less than ICE Brent to be delivered to Chinese ports. The majority of March-loading ESPO cargoes has been sold. Sources said that some ESPO cargoes loaded in February were sold at discounts of up to $9-$10 a barrel. ESPO blend traded between $1 and 2 higher than ICE Brent during most of the last year. It only dropped to a discount versus ICE Brent in the fall due to new Western sanctions. ESPO blend was also bought in small quantities by Indian?refiners during the past year. Market sources reported that China, which is the biggest buyer of ESPO Blend, which is loaded at the Pacific port Kozmino, in eastern Russia, also absorbed a?significant portion of Urals Oil in January as Indian refiners reduced their Russian oil purchases. According to traders, in March, Urals were traded at a discounted price of between $11 and $12 per barrel shipped to China. China's independent oil refiners have increased their purchases of Russian crude oil, too, after they received new import quotas for crude oil in late 2025. In October, the United States imposed sanctions against Russian producers Rosneft & Lukoil and increased tariffs on India for its heavy purchases of Russian oil. Traders noted that Western sanctions?have complicated payment and shipping for certain Chinese buyers. However, ESPO and Urals are still attractive options for smaller Chinese refiners who seek prompt cargoes. Reliance Industries, an Indian company, will buy up to 150,000 barrels of Russian oil per day from February, for its domestic refinery. This is a sharply reduced amount from the 500,000 barrels a day it had received from Rosneft until most of 2025. Sources say that despite Reliance's return, India's total Russian oil imports will remain low through February and March. There are now more Russian Urals onboard ships and a wider range of discounts on Russian Urals due to the drop in demand from India. According to Kpler, the data analytics company, Asian floating storage oil of Russian origin reached a new monthly high on Wednesday at 10,57 million barrels, up from less that seven million barrels during the previous week.
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RAMPF is chosen by Canada's Horizon to manufacture the main body of their aircraft
Horizon Aircraft, a maker of air taxis, announced on Thursday that it had partnered with RAMPF Composite Solutions for the manufacture of the main body?of its Cavorite hybrid electric vertical takeoff and landing aircraft. Why is it important? Electric vertical takeoff-and-landing aircraft (eVTOL), or electric vertical takeoff-and landing aircraft, are competing for regulatory approval. They also want to lock in their suppliers for a market they believe will be a growth area. KEY QUOTES Horizon CEO Brandon Robinson said that early adopters are expected to be air ambulance, emergency service and critical cargo operators, who often lease aircraft. Military and defense operators will also be among the first to adopt Horizon's eVTOL. CONTEXT Air taxis are expected to grow in the future, thanks to the Trump administration's support for the sector last year. Toronto-based firm Motion Applied partnered with F1 supplier Motion Applied last year to design a motor for its flying taxi. Horizon, unlike some of its U.S. peers like Joby and Archer?which focus on 100% electric models?is betting on hybrid-electric technologies. What's Next? The RAMPF facility in Burlington will complete the manufacturing of the fuselage for the full-scale aircraft prototype. Horizon Aircraft, located in Ontario, will then finish the final assembly. (Reporting and editing by Vijay Kishore in Bengaluru, Anshuman tripathy is based in Bengaluru)
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Alibaba's logistics division to purchase stake in Chinese Zelostech robovan developer
Zelostech, a Chinese robovan company, announced on Thursday that Alibaba's logistics division, Cainiao will take a stake. The Wall Street Journal reported on the deal first. A spokesperson for the robovan developer said, "Cainiao won't become a controlling shareholder of Zelostech." A robovan, or fully autonomous electric vehicle designed for freight, is an example of this. Zelostech Z10 can carry a load up to 1.5 tonnes. Zelostech's email stated that "Zelostech has entered into a deep integration with Cainiao’s autonomous-driving division, and are jointly building a RoboVan Super Carrier for the unmanned cargo sector." The company stated that Cainiao will "contribute" its autonomous-driving technology to the deal, and make an investment in cash. The Journal reported Cainiao’s autonomous-driving?unit will be folded into Zelostech. Zelostech is expected to operate both brands simultaneously. Zelostech has not responded to any further requests for comments. Alibaba didn't?respond immediately to a comment request. Reporting by Ananya Palyekar, Rajveer Pardesi and Disha Mihsra from Bengaluru. Editing by Mrigank Dahaniwala & Sahal Muhammed
Ethiopian Airlines cancels flight to Tigray Region after clashes
Ethiopian Airlines cancelled its flights to 'Tigray' on Thursday, and residents in the northern region of the country rushed to withdraw money from banks following clashes between national and regional forces that raised fears of a renewed conflict.
Ethiopia's National Army fought against fighters of the Tigray People's Liberation Front from late 2012 for two years. Researchers say that this conflict resulted in the deaths of hundreds of thousands of people through violence, collapse of healthcare, and famine.
According to diplomatic and government officials, clashes erupted in the disputed western Tigray region earlier this week.
Ethiopian national carrier official: "As from today, all flights have been cancelled." Without giving any reason, the official said.
A resident of Mekelle in Tigray’s capital, reported that hundreds of people queued up to withdraw cash on Thursday. However, many banks were out of money.
He said: "I tried to withdraw money from three Commercial Bank of Ethiopia branches but was told they didn't have any ..... I checked all the ATMs around town, but none of them had cash.
A 26-year old Mekelle resident told how he tried unsuccessfully to send a parcel by air to Addis Ababa, the capital.
I was informed that flights were cancelled as of this morning. He said there was also a "shortage" of cash.
The Tigray War ended in November 2022 with the signing of a pact of peace, but there are still disagreements over various issues. These include contested territories?in western Tigray, and the delay of disarmament by Tigrayan troops.
According to a diplomatic source, short-lived clashes broke out this week between Tigrayan and national forces in western?Tigray.
Senior Tigrayan officials said that the regional government reached out to Addis Ababa for an explanation of the flight cancellations, but received no response.
Senior officials from the Ethiopian government and Tigrayan government expressed their hope for a reduction in tensions.
Both Amhara and Tigray claim Western Tigray to be part of their respective regions, although it is currently controlled by Amhara forces as well as the Ethiopian military.
(source: Reuters)