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Cathay Pacific will cut flights between mid-May and end-June due to rising jet fuel prices
Cathay Pacific Airlines announced on Saturday that it would cut some flights from mid-May until the end of June, citing the rising costs of jet fuel caused by the Middle East conflict. It was reported that the airline would cancel about 2% scheduled passenger flights between May '16 and June 30, 2026. Meanwhile, its budget arm HK Express would cut around 6% starting May 11. The airline said that the suspension of passenger services between Dubai and Riyadh will remain in effect until June 30. Cathay's CEO Ronald Lam announced last month that the Hong Kong-based carrier would expand its passenger capacity this year by 10%, citing a strong demand for flights to North America and Europe, as well as Australia, after the Iran War cut off traffic in the Middle East. Cathay?Pacific said that it plans to continue operating all scheduled passenger flights beyond June. Executives said that the two-week?ceasefire? between President Donald Trump and Iran will not bring immediate relief to the aviation industry. Officials in the industry have warned that jet fuel supplies will be tight and expensive for several months even if Iran were to reopen the Strait of Hormuz. (Reporting and editing by Anusha in Bengaluru)
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German Finance Minister: Market intervention is needed to combat energy crisis.
The German Vice-Chancellor and Finance Minister Lars 'Klingbeil said on Saturday that government action was the best way to reduce soaring fuel and diesel prices. This exacerbated a rift within the coalition about how to tackle the current energy crises. The Iran War has disrupted the global energy supply, causing Europe's biggest economy to face higher gas and oil prices at a time of tepid economic growth. "Intervening on the market is the most effective approach." In other European countries, we see this," Klingbeil said to Sueddeutsche Zeitung during an interview. This put him at odds with Economy Minister Katherina Reiche. "And I think we should also have this courage." Klingbeil reiterated his plans to impose a windfall on the profits of energy companies, given the high petrol prices. He added that this would enable Germany to "skim crisis profits and?use them for real relief for its citizens". It should be accompanied by a reduction of?energy tax as well as price cap for petrol and diesel similar to that in other European countries. "I cannot explain to anyone how in countries like?Belgium or Luxembourg, neither of which are communist, the government caps prices while here, they skyrocket," said?Klingbeil. Reiche of the Christian Democrats branded Klingbeil’s proposals as "expensive" and "ineffective". He added that coalition leaders will continue to discuss possible solutions this weekend. (Reporting and editing by Chizu Nomiyama)
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FAA and Pentagon sign agreement to deploy anti-drone Laser System near Mexico
The Federal Aviation Administration and Pentagon announced on Friday that they had signed an agreement to allow the government to use a high-energy laser counter-drone along the southern border of the United States with Mexico. After the FAA tested the laser system in New Mexico used by the Pentagon, Homeland Security Department, and verified that the proper safety controls were in place and did not pose any undue risk to passenger aircraft. Two previous incidents raised serious concerns. The U.S. Military accidentally shot down a drone using the laser-based systems on?February 25. This led the FAA (Federal Aviation Administration) to extend the area where flights around Fort Hancock, Texas are prohibited. This incident occurred after the FAA halted all flights at the El Paso Airport for 10 days on February 18, due to the use of a 'Pentagon Laser System' by Homeland Security without completing a safety review by the FAA. After the White House intervened, the FAA lifted the shutdown order for El Paso after eight hours. After a thorough and data-driven Safety Risk Assessment we concluded that these systems did not pose an increased risk for the flying public," FAA Administrator Bryan Bedford stated on Friday. Pentagon officials have confirmed that more than 1,000 drones are used along the U.S. - Mexico border each month. U.S. officials are increasingly concerned about Mexican cartels using drones to deliver drugs or monitor trafficking routes. Media outlets reported that drones were spotted last month over Fort McNair, Washington, where Secretary of State Marco Rubio and Defense Secretary Pete Hegseth reside. The Pentagon has not announced any plans to deploy the Laser at the base which is located near the Reagan Washington National Airport. Last month, Democratic Senator Tammy Duckworth called for federal watchdogs review the decision making process that led to the use and decision by the FAA to close airspace. (Reporting and Editing by Franklin Paul & Rod Nickel, Rod Nickel, David Shepardson)
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A crash involving a bus full of British tourists in La Gomera, Spain has left one dead and 27 injured
Emergency services reported that at least one person died and 27 others were injured after a bus carrying British tourists crashed into a ravine in La Gomera. Local emergency services posted on social media that the injured, among them three people in a serious condition, were airlifted from the Nuestra Senora de Guadalupe Hospital. The local emergency services said that 27 British citizens and the driver were among the injured. The accident happened when the vehicle came 'off the GM-2 highway?in La Gomera. This island is popular with northern European visitors. The British Foreign Ministry said that they were in contact with the local authorities, and would be happy to assist British nationals. The bus was operated locally by Gomera?Tours. A spokesman for the company said that it would not comment when contacted. The Spanish police have launched an investigation, but the cause of this crash has yet to be determined. In a traffic crash on the same road last year, 10 people were injured and?one woman was killed?
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Sources say that India allows Reliance to dock Iranian oil tankers
Three industry sources confirmed that the Indian shipping ministry had granted Reliance Industries' request to allow?four vessels carrying Iranian crude oil to dock at Sikka in western India. India, which is the?third largest?oil consumer and importer in the world, hasn't received a shipment from Tehran since May 2019, following U.S. pressuring it not to purchase Iranian crude. The U.S. temporarily lifted sanctions last month on the purchase at sea of Iranian oil to lower oil prices. The waiver will expire on April 19, 2019. Reliance, the Indian oil ministry and the?shipping minister did not respond when asked for comments. Iranian oil is frequently transported by a "shadow fleet" of vessels, which lack international insurance and safety certifications. This is not possible as Indian law requires that ships be berthed under special conditions. EXEMPTION ONE TIME ONLY According to one source, the Shipping Ministry has granted an 'exceptional'?one-time exception for vessels requested by Reliance, the operator of the largest refining complex in the world, because of?the emergency created by the?closure of the Strait of Hormuz. A second source confirmed that, in addition to the aframax Kaviz, which is flagged by Comoros, and Lenore (a very large crude carrier, or VLCC), which is registered under Curacao, Felicity and Hedy are VLCCs flying the Iranian flag. The four vessels sanctioned by the United States are all older than 20 years. Each VLCC can carry up to 2 million barrels. India requires that tankers older than 20 years have a seaworthiness certificate from either a member of industry's leading organization, the International Association of Classification Societies or?an entity authorized by India's maritime administration. According to United Against Nuclear Iran's analysis, the Hedy was positioned in Chabahar Port since April 1, and the Felicity has been spotted there since April 3. The group monitors Iran related tanker traffic via ship and satellite tracking. Charlie Brown, UANI's senior adviser and UANI representative, said that the Kaviz left the Gulf on Friday while the Lenore loaded crude oil from Iran's Kharg Island in March 20. Another source stated that despite being granted a?permission, Reliance was not sure if it would process Iranian oil. It wants to make'sure transactions are compliant with Indian laws and sanctions. Ship tracking data indicates that Indian Oil Corp., the nation's largest refiner, purchased Iranian oil transported in the tanker Jaya. (Reporting and editing by David Holmes and Rod Nickel; Nidhi verma)
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Middle East War Highlights Florida's Fuel Supply Vulnerability
Analysts say that Florida residents are paying significantly more for gasoline and diesel than the national average in recent weeks due to the U.S. - Israeli war with Iran, which forces the Sunshine State into competition?with Europe and Asia over fuel produced by 'Texas' and other U.S. States. The high-end, rare premiums show how Iran's blockade of Strait of Hormuz exposed vulnerabilities to oil and fuel supply chain around the world. Florida is not a refinery state, due to its hurricane-prone nature. There are also no pipelines that deliver fuel from U.S. Gulf Coast refining plants. Fuel delivered by the Colonial Pipeline to Georgia is transported into Florida via trucks. However, the bulk of Florida's fuel requirements are met with barges from the U.S. Gulf Coast. Export margins have improved for fuel producers as they have prioritised?exports from the U.S. to Europe and Asia, since international markets were hit the hardest by the Strait of Hormuz closing. Tom Kloza is the chief energy advisor at Gulf Oil. He said that "ships that would normally transport product from lower Mississippi ports or Houston to Florida port are mostly headed elsewhere." GasBuddy data showed that Florida residents paid as much as 15 cents per gallon for gasoline this month, which is nearly 4% higher than the national average. For diesel, they paid as much as 35 cents or 6% more, according to GasBuddy. Prices in Florida are typically lower than the national average. The data revealed that Floridians paid the highest premiums for gasoline since 2013 and for diesel ever. California and Hawaii continue to pay the highest fuel prices. Gasoline in Florida was back below the national average on Friday, at $4.06 per gallon. A ceasefire agreement with Iran helped ease supply worries. Diesel prices, however, were still?about six cents above the national standard at $5.77 per gallon. As they prepare for the midterm elections in November, President Donald Trump and the Republican Party are concerned about high gasoline and diesel costs. The president and other Republicans, such as outgoing Florida Governor Ron DeSantis have repeatedly attacked Democrats over high fuel prices in states like California. Patrick De Haan is the head of Petroleum Analysis at GasBuddy. He said that Florida is unique in its vulnerability to this problem because most of the fuel is imported via barges, with the exception of the panhandle. Gulf Oil's Kloza stated that high freight rates have added another layer of complexity for Florida. The barges still bringing in fuel were doing so at "almost nonsensical" freight rates. The Strait of Hormuz Blockade has caused freight rates to increase globally, and in particular, on the U.S. Gulf Coast. GasBuddy's De Haan stated that Florida's dependence on barge supplies from the U.S. Gulf Coast is a growing concern due to the?rapid growth of the population, which has led to a higher demand. The U.S. Energy Information Administration reported that the total gasoline consumption in Florida reached 224 million barrels by 2023. This is a 32-million barrel increase compared to 2011, and represents the largest jump in this period in the U.S., except for Texas. (Reporting from Shariq Khan, New York; editing by Nia Williams.)
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Ireland faces a'very serious' situation because of protestor fuel blockades.
On Friday, protesters in Ireland demanded government action over surging fuel prices. They used tractors and truck to block a port, fuel depot and oil refinery. The prime minister was forced to warn that the country might have to turn fuel deliveries away. Micheal Martin, who spoke on Friday, said that the blockades of Irish oil pipelines, which were triggered by the more than 20 percent increase in diesel prices following the U.S./Iran war, will cause serious economic damage. Fuels for Ireland, an industry?group, said that more than 100 petrol?stations had run out of fuel. "The situation is extremely severe right now." In an interview with RTE, Martin said that he didn't believe people were aware of the severity of the situation. He said that "we are on the brink of turning oil from the country," citing a problem with a tanker at Galway Port, and the halting of refining operations at the Whitegate Oil Refinery near Cork. It is unconscionable. It is illogical. It is hard to understand. Martin stated that the police and the army were ready to assist in clearing the protests, if needed. He also said "clearly the law will be enforced." Martin called for dialogue in order to resolve the issue. DPD, a delivery firm, said that it would suspend services in Ireland due to protests on Saturday. Last month, the government announced a package worth 250 million euros ($293.2 millions) to temporarily reduce taxes on petrol and diesel in order to offset the cost of the Middle East war. However, protesters are calling for more drastic measures, such as a price ceiling.
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Tel Aviv stocks reach record highs as truce hopes spur Tel Aviv's shares to hit a 1995 peak against the dollar.
Tel Aviv's share indexes reached all-time peaks - and the Israeli shekel rose - to a 30-year high - against the dollar on Friday, on the apparent hope that the U.S.-Iran talks scheduled for Saturday would maintain a ceasefire. The blue-chip Tel Aviv index and the broader TA-125 closed higher by 1.9%, extending to over 6% gains since the U.S. and Israel led air war began in February '28. The?shekel rose 0.7% against the dollar, reaching a rate 3.031 - its highest level since October 1995. Israel and Hezbollah traded fire in Lebanon, and the Strait of Hormuz was closed. The U.S. and Iran will meet in Islamabad on Saturday to try to reach a deal, including the reopening of the strait.
Middle East flights suspended after US-Israel attack on Iran
On Sunday, airlines continued to cancel flights in the Middle East as most of the airspace was still closed. This is a day after Israel and the United States launched strikes on Iran killing the Iranian Supreme Leader Ayatollah Khamenei. The strike plunged the region into another conflict.
Flightradar24's maps showed that the airspace above Iran, Iraq?, Kuwait, Israel, Bahrain and the UAE, as well as Qatar, was virtually empty. Air strikes also forced major Middle Eastern airports such Abu?Dhabi, Doha and Dubai to close or be severely restricted.
The following is a list of the most recent flights by airline alphabetically:
AEGEAN AIRLINES
The largest airline in Greece has suspended flights to and from Tel Aviv, Israel, Beirut, Lebanon and Erbil (Iraq) until March 2.
AIR ASTANA
The group has cancelled all flights into the Middle East until March 3.
AIR CANADA
The airline has announced that it will cancel flights from Canada to Israel and Dubai until March 8, as well as flights to Dubai till March 3.
AIR EUROPA
Spanish Airlines cancelled flights to Tel Aviv for Sunday and Monday. The airline is currently monitoring the situation and will assess its operations starting Tuesday.
AIR FRANCE KLM
Air France has cancelled all flights on Saturday to and from Tel Aviv, Israel and Beirut, Lebanon.
KLM, its Dutch subsidiary, announced late Saturday that flights this weekend to and from Dubai Dammam Riyadh and other destinations were cancelled. The Dutch airline had already moved up the suspension date of its Amsterdam-Tel Aviv flight to Saturday.
AIR INDIA
The carrier has cancelled Sunday flights from Delhi, Mumbai, and Amritsar, to London, New York City, Chicago, Toronto and Paris. It added that additional flights were cancelled to London, Birmingham Amsterdam, Zurich Milan, Vienna, Copenhagen, and Frankfurt.
AZERBAIJAN AIRLINES
The airline has suspended all flights to and out of Dubai, Doha and Tel Aviv.
BRITISH AIRWAYS
British Airways, owned by IAG, has announced that it will cancel flights to Tel Aviv until March 3, and to Bahrain until March 3. It also cancelled its flight from Amman on Saturday.
CATHAY PACIFIC
Hong Kong-based Cathay Group, the parent company of Cathay Pacific Airways has suspended its operations in the region. This includes passenger flights from and to Dubai and Riyadh as well as freighter services at Al 'Maktoum Airport. This is Dubai's secondary airport, after Dubai International Airport. It is the hub for most of Dubai's passenger traffic.
EMIRATES
Due to the multiple closures of regional airspace, Emirates has suspended its operations into and out of?Dubai up until 3 pm UAE time on Wednesday March 2.
ETIHAD
Etihad, the UAE's national airline, said that flights departing Abu Dhabi had been suspended until Sunday at 2 p.m.
FLYDUBAI
The airline announced that it has temporarily suspended all flights from and to Dubai until Sunday at 3 pm local time.
IBERIA EXPRESS
Iberia Group, a Spanish airline, has cancelled a flight scheduled to depart from Tel Aviv at 5 pm local time on Saturday.
INDIGO
IndiGo, India’s largest airline, announced that it has extended the temporary suspension of selected international flights using Middle East Airspace until Monday.
ITA AIRWAYS
ITA Airways has suspended all flights to and out of Tel Aviv, and announced that it will not be using the airspace in Israel, Lebanon and Jordan, Iraq or Iran until March 7. Flights from and to Dubai have been suspended until March 1.
JAPAN AIRLINES
Nikkei reported that Japan Airlines had cancelled a flight from Tokyo Haneda on Saturday to Doha, as well as the return flight for March 1.
LOT POLISH AERLINES
The airline has suspended flights from Tel Aviv to Dubai until March 15, and has cancelled flights between Riyadh and Dubai until March 2.
LUFTHANSA
German Airlines suspended flights from and to Tel Aviv, Israel and Beirut, Lebanon until March 7th. Flights to and out of Dubai were also suspended on Saturday and Sunday.
The plane also announced that it would not be flying through the airspace of Israel, Lebanon, Jordan, Iraq and Iran until?March 7th.
NORWEGIAN AIR
A spokesperson for the Nordic airline confirmed that all flights to and from Dubai were suspended until March 4. He added that the carrier had not suspended flights to Tel Aviv, Israel or Beirut, Lebanon as these destinations were only active during summer.
PEGASUS Airline
The airline announced that flights to Iran and?Iraq as well as Jordan and Lebanon have been cancelled until March 2.
QATAR AIRWAYS
Flights are temporarily suspended due to the Qatari airspace closure. It will provide an update on Monday at 9 am local time.
SCANDINAVIAN AIRLINES
The airline informed that it had suspended Saturday's flight from Copenhagen to Tel Aviv. There has been no decision made about flights at other dates.
TURKISH AIRLINES
On Saturday, the airline cancelled all flights to Qatar, Kuwait and Bahrain as well as flights to the United Arab Emirates, Oman, and Jordan. Flights to Lebanon, Syria and Iraq were also canceled until March 2.
VIRGIN ATLANTIC
Virgin Atlantic has announced that it will temporarily avoid Iraqi Airspace. This will result in some pre-planned reroutings of flights. It also cancelled Saturday's VS400 flight from London Heathrow Airport to Dubai.
WIZZ AIR
With immediate effect, the Hungarian airline halted all flights to and from Israel as well as Dubai, Abu Dhabi, and Amman.
The statement added that the operational decisions will continue to be reviewed, and the flight schedule can be changed as circumstances change. Josephine Mason, Federico Maccioni, Barbara Lewis, Emelia Sithole Matarise, Cynthia Osterman and David Goodman edited the report.
(source: Reuters)