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China suspends aviation company linked to Beijing light aircraft crash
China's Civil Aviation Authority on Monday ordered the operator of a light aircraft that crashed into Beijing’s tallest building in late August to suspend operations, ground aircraft and eliminate “major safety risks”. The pilot of a two-seater, single-engine light sport aircraft was killed in the rare crash that occurred during rush hour evening rush hours in Beijing's crowded?central business district. Local government officials have confirmed that 13 other people were injured in the crash. Local government officials said that the pilot suffered from insomnia, anxiety and had written in his diary about ending his own life. Questions remain about how the plane managed to enter the restricted airspace. The North China Regional Administration (CAAC) of the Civil Aviation Administration of China said that the aviation authorities were "unable to confirm" whether the qualifications of the companies' pilots and the airworthiness of the aircraft met the flight safety requirements for the items of operating licenses applied for. The notice also named a company called Dongshi Kunpeng General Aviation. It wasn't immediately clear whether Dongshi Kunpeng - a company based on the outskirts of Beijing - had any connection to the crash. Outside of normal business hours, it was impossible to reach Dongshi Shuangyue and Dongshi Kunpeng. In a 2024 promotional video, the Beijing-based Dongshi Shuangyue was shown as being the owner and operator of the plane that crashed last month, with registration number B-12PP. According to a source with knowledge of the incident in June, The Financial Times reported that the aircraft belonged to Dongshi Shuangyue. This company offered low-altitude scenic flights, flight training and hands-on experience programs in the suburb Pinggu District, located about 50 km from the center of Beijing. The notice did not mention the crash, but ordered the companies to immediately eliminate hidden hazards, suspend temporary production and business operations and stop using aircraft. The company cited their prolonged suspension of flight activities for the order to suspend operations. A document from the CAAC shows that both companies were listed in its registry of general aviation operators licensed in May. Reporting by Beijing Newsroom, Editing by Alexander Smith
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US appeals court dismisses class action Boeing arising from MAX 9 explosion
A federal appeals court decertified on Monday a class action filed by shareholders accusing Boeing of prioritizing profits over safety, and exaggerating its commitment to aircraft safety. This was prior to the mid-air panel blowout that occurred on a Alaska Airlines 737 MAX in January 2024. The 4th U.S. The 4th U.S. Circuit Court of Appeals ruled that shareholders?led?by Rhode Island's State Treasurer failed to provide?an adequate methodology for calculating damages on a?classwide?basis. The lawyers for the shareholders didn't?immediately? respond to requests?for comments. Boeing's lawyers also did not respond immediately to similar inquiries. Class actions allow for greater recovery at lower costs than individual lawsuits. Boeing shareholders accused the Arlington, Virginia-based firm of inflating the stock price of its company by making misleading statements after the two MAX crashes in October 2018 and March 2019 that killed 346 people. U.S. district judge Leonie Brinkema of Alexandria,?Virginia ruled that in March 2025,?shareholders in Alexandria who purchased Boeing stock between January 7,?2021 and January?8,?2024, could sue?as a collective for?damages. The appeals court sent the case back to her.
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Aircraft orders are up at the Farnborough airshow, as Boeing and Airbus compete for deals
Airlines announced aircraft orders at the Farnborough International Airshow, which opened on Monday. More are expected to be revealed this week. The 'British event is one of the largest gatherings in the sector. Sources in the industry said that despite their expectations, they expect dealmaking will fall short of the '800 aircraft or more' expected by Airbus and Boeing. Here are some of the most important deals that have been made so far. SMBC AVIATION CAPITIAL Boeing and SMBC Aviation Capital have announced that they have ordered 100 737MAX aircraft, including 60 737-10?and forty 737-8 jets. The 737-10 is SMBC Aviation Capital’s first order for the highest-capacity variant of the 737?MAX. RIYADH AIR The Saudi airline exercised options on 28 Boeing 787 Dreamliners, from a 2023 order. 20 of these aircraft were converted to the 787-10 version. The firm has also confirmed an additional six orders for?Airbus A350 1000 aircraft, bringing its total A350 1000 order book to 31, aircraft. PHILIPPINE?AIRLINES Boeing has announced that it will be supplying up to 20 Dreamliner 787-10 widebody twinjets, with 15 firm orders and 5 options. This order builds on a 80-year relationship between the two airlines. Philippine Airlines, which has operated Boeing aircraft for many years, including the 777-300ERs it currently operates, has never before flown Boeing's 787-10 Dreamliner. OTHER DEALS Japan’s?Skymark Airlines and Aviation Capital Group have agreed to lease seven Boeing 737 MAX-10 narrowbody twinjets. Deliveries will begin in 2028. The first Airbus order at the show was a commitment from UK's National Police Air Service for two more H135 helicopters, bringing their fleet renewal program to nine H135s. Delivery is expected to begin in 2028. British Airways has announced that it will be using Pratt & Whitney GTF engine for up to 63 incoming Airbus A320neo aircraft: 33 firm orders, and 30 options. Singapore-based BOC Aviation, a lessor of aircraft in Singapore, placed its largest-ever order for engines. It agreed to purchase up to 300 CFM International engine options to support the growing Airbus and Boeing narrow body fleet. Reporting by Maria Rugamer and Joanna Plucinska; Editing by Adam Jourdan, Sharon Singleton and Sharon Singleton
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Ireland cracks down on electric scooters after a rise in serious injuries
Ireland has announced that it will increase the age limit for using 'electric scooters' from 16 to 18. It also requires riders to have a license and to wear helmets. However, this is not a total ban as Prime Minister Micheal Mart had suggested. Ireland has joined a few other European cities and countries in clamping down against the exploding use of e-scooters after an increase in accidents, especially among children. Children's Health Ireland, which runs all national paediatric services, reports that admissions for traumatic head injuries resulting from escooter accidents rose by 50% over the past 12 months. CHI estimates one to two children a week will present in the emergency department with e-scooter related injuries this summer. Martin said last week that he is leaning toward an 'outright ban. The head of the Irish Police force has stated he would support this option. He also added that these vehicles are being used for drug trafficking and to "terrorize" local communities. The government announced in a statement that a potential ban would remain on the table. Other measures include the wearing of high visibility jackets, and the prohibition of the sale e-scooters which can exceed the legal limit of 20 km/h (12.4 miles/h). Suzanne Crowe is a consultant for intensive care medicine in one of Dublin's main children's hospital. She said that better enforcement of laws was key. She told RTE that she would like to see the ban reviewed after a few months. If there is still no reduction in injuries, then I believe it will be necessary to consider an outright prohibition. (Reporting and editing by Andrei Khalip, Padraic Halpin)
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Portugal and Morocco seek EU funding, private investors to build power link
Portugal and Morocco said they would ask the European Commission to consider funding a long-promised power interconnector that connects the two countries. They will also explore private sector investment. The crippling power "blackout" in Spain and Portugal that occurred in April 2025 revealed the Iberian Peninsula’s limited electrical links with Europe. This helped revive plans for the Portugal-Morocco connection first studied in 2018. Iberia only has 3% of its total electricity capacity interconnected with neighbouring European countries. This is well below the EU's target of 15% for 2030. A link to?Morocco could strengthen the energy security of Portugal, which is currently only connected with Spain. It would provide an additional source of power in case of interruptions. Maria da Graca Carvalho, Portugal's Minister of Energy, said that Lisbon and Rabat had agreed to discuss the possibility of the power connection?being deemed an Important Project of Common European Interest. Carvalho stated that a new Europe-Africa electric connection would improve energy security and cooperation between the continents. Carvalho told reporters that he had decided to talk to the EC first to determine whether it is interested in taking this project on as an important European one. Portugal and Morocco are pursuing two tracks at the same time -- gaining access to the Connecting Europe financing facility and testing investor interest through a private-sector expressions of 'interest' process by grid operators and utilities. Carvalho stated, "We do not want to overcharge either our contributors or consumers." Benali stated that the two countries wanted to "ensure that we reduce costs,?especially affordability of energy access", for both populations as well as a number sectors. Carvalho stated that it was still too early to say whether the project would include a 'direct subsea cables between Portugal and Morocco, or use infrastructure via Spain which already has a electricity interconnection with this North African country. (Reporting and editing by Jan Harvey; Sergio Goncalves)
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EU waives penalties against oil and gas companies that violate methane laws
Following pressure from the U.S. Government to roll back rules, the European Commission has instructed EU governments that penalties will be waived for three years by oil and gas companies who 'breach their methane emission law. In recent months, the U.S. and?Qatar oil and gas industry?groups and most EU members states demanded that changes be made to the law, warning it would hinder Europe's ability in securing fuel supplies when imported gas is required to meet emission monitoring standards equivalent to Europe's from January 2027. In order to "avoid supply disruptions", the?Commission stated on Monday that EU countries should not impose penalties on companies who violate the?methane laws in 2027 2028 and 2029. Companies that did not comply with the law could be fined up to 20% their annual revenue. The Commission stated that the?changes are justified in the context of tightening global energy markets caused by the?ongoing?blockade of Strait?of Hormuz", disrupting the transit route of a fifth of world's oil & liquefied gas supply. This change will weaken the EU's first ever climate policy that was intended to curb methane leaks, a powerful greenhouse gas, and the second largest cause of climate changes after CO2 emissions. It does not go quite as far as critics would like, since it doesn't amend the law but only temporarily waives the penalties for violating it. A group of 17 EU member states, including Germany, the Czech Republic and others, has asked the EU to postpone the law. Analysts disagree on whether or not the new rules will limit the amount of oil and gas that the EU can obtain from global markets. The "recommendation of the Commission" regarding waivers of penalties is not binding, but it instructs countries on how to apply EU laws. A Commission official said on Monday that national courts were obliged to consider the recommendation, which would help businesses avoid any claims of being penalized for breaking the law. (Reporting and editing by Toby Chopra; Reporting by Kate Abnett)
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How the Houthi blockade of the Red Sea strengthens Iran's grip over global energy supplies
Houthis, who are allied with Iran, in Yemen, will blockade Saudi Arabia's maritime traffic, they announced on Monday. This would further restrict a global market for energy, which is already severely restricted due to Iran's closing of the Strait?of Hormuz. Why it matters, and what it means to the Iran War and the global energy crises: How big is the risk to global energy markets? It's not clear what the Houthis will do to blockade Saudi Arabia along the Red Sea Coast, their northern neighbor. Or if they would return to attacking shipping. Yemen is located on the strait of?Bab el-Mandeb - the southern entrance to the Red Sea - so closing it would create a 'new front' in the conflict between Iran and the U.S. and the energy crisis. The Red Sea is now a vital alternative outlet for Gulf Oil and other products, with Hormuz disrupted. If both major Middle East oil export routes were closed simultaneously, a serious disruption would be the result. The partial blockade of Iran's Strait of Hormuz by Israel and the U.S. after their attack on it on 28 February disrupted the majority of oil and other Gulf exports, causing prices to rise and a global energy crisis. Saudi Arabia responded to this by redirecting more than 70% its daily crude oil exports to Yanbu, a port on the Red Sea. Ships bound for Europe leave Yanbu via the Suez Canal. Those headed to Asia pass through Bab el-Mandeb. According to Kpler's and Signal Ocean's data, Yanbu has shipped an average of 4 million barrels per day over the past few weeks. This is up from 973,000 bpd one year ago. According to Kpler, the total petroleum volume transiting Bab el-Mandeb in June was 7.4 million bpd, which is about 7% global oil production. This represents an increase from 4.2 million bpd a year ago. This has helped to stabilize the global oil price by stabilizing the energy market. Last week, it was reported that Saudi Arabia is looking at expanding its crude oil pipeline along the Red Sea Coast. Gulf oil exports flowed freely when the Houthis attacked?Red Sea Shipping in November 2023. Who are the HOUTHIS and do they close RED SEA ENERGY routes on behalf of Iran? In the 1990s the Houthis were a military, religious and political movement that fought guerrilla warfare against the Sanaa government. Since more than a century, they have waged a civil war with the internationally recognized, Saudi-backed government and attacked Gulf neighbours using missiles and drones. The truce of 2022 between Yemen's warring parties largely held up until last week when Yemen's internationally recognised government claimed it had attacked Sanaa Airport to prevent an Iranian plane from landing. The Houthis claimed that Saudi Arabia was to blame and, in response, fired missiles into Abha Airport in the mountainous southwest of the Kingdom. In an interview with Press TV, a senior Houthi, politburo-member Mohammad al-Farah warned that if things continued to escalate, Bab el-Mandeb could be closed. Iran supports the Houthis in its regional "Axis of Resistance", including Lebanon's Hezbollah, and Iraqi Shiite militias. However, its ties to the Yemeni movement is less clear than those with these other groups. Houthis don't recognise Iran's supreme ruler as their ultimate authority religiously in the same manner that Hezbollah or Iraqi groups do. They are motivated primarily by domestic issues, even though they share Iran's ideology. Hezbollah is said to have helped Iran arm, fund and train the Houthis. The Houthis claim to be independent and do not accept that they are Iranian proxies. It is not clear to what extent the Houthis' stance on Bab el-Mandeb, the Red Sea and their own strategic priorities are influenced by Iran. What happened when the HOUTHIS attacked RED SEA SHIPS before? The Houthis started firing on Israel and ships in the Red Sea after the Hamas attack of October 7, 2023 and Israel's devastating Gaza campaign. They said they were doing this in support for Palestinians. The attacks caused a major disruption in global shipping. Maersk and Hapag-Lloyd, among other large companies, diverted around Africa, a route that was much longer and more expensive. Suez Canal Authority data show that the Red Sea traffic is still not recovering. The traffic through the Suez Canal in 2025 will be 52% lower than in 2023 and its lowest level in 50 years. The U.S. led mission to restore freedom of navigation in the Red Sea included repeated strikes against Houthi targets, and a defensive offensive that destroyed hundreds of drones. Some Houthi attacks continued until last summer. They only ended completely after the Gaza ceasefire. The Houthis announced last month that they would ban all ships from the Red Sea linked to Israel after Israel re-launched military attacks on Iran. Maersk announced this month that the threat never materialized and that Hapag-Lloyd and Maersk are now resuming certain Red Sea routes they abandoned last year during Houthi attacks. WHAT HAS THEIR ACTION BEEN DURING THE LATEST IRAN WAR? Hezbollah, the Iraqi groups and even the U.S. military joined the war with rocket and drone attacks after the initial U.S.-Israeli strikes against Iran. The Houthis were relatively quiet. Abdul Malik al-Houthi, the leader of the group, said on March 5, "Our fingers are ready to fire at any time if circumstances warrant it". Iranian commanders warned repeatedly that the Houthis might join the war. In late March and earlyApril, the Houthis launched some missiles and drones attacks against Israel. Esmaeil Quds Force Commander Esmaeil Quaani of the Revolutionary Guards Quds Force said on June 1, they could choke off Red Sea. It may have changed now with their announcement on Monday of the blockade against what they called "criminal" Saudi Arabia as retaliation to what they said the kingdom was sieging its ports and airports including last week's strikes. (Compiled and edited by William Maclean, Jason Neely and Angus McDowall)
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Sources: Russian steel magnate sold shipping firm in Sea of Azov
Four industry sources confirmed that Russian steel billionaire Vladimir Lisin sold a shipping company?operating?in the Sea of Azov, to agricultural logistics group Demetra. They added that the deal had been negotiated before Ukrainian drone strikes on commercial vessels caused shipping restrictions in the region. Volga Shipping transports grain, metals and coal along the Volga, Don and Black Sea rivers. Its cargo volume is more than 15 million metric tonnes per year. On Monday, neither Demetra nor Volga Shipping, nor Lisin's steel company NLMK responded to any requests for comments. Four sources confirmed that Demetra and Lisin-affiliated companies were involved in Volga Shipping. Could not determine the value of?the transaction. The attacks on ships, which threatens to disrupt the exports, have forced Russia, the world's largest wheat exporter, to restrict commercial shipping along the main trade route. Lisin, who controls NLMK - one of Russia's biggest steelmakers - has fallen to sixth position among Russia's wealthiest individuals, down from third place he held in 2024. This is due to the decline of Russia's steel industry. Demetra has emerged as a major player in its agricultural logistics sector. It serves lucrative grain trades with Russia's customers in the Middle East, Africa, and Asia. According to the most recent Russian corporate records, as of the 2nd quarter of 2024 91% of Volga Shipping is owned by Rumelko. This firm is controlled by Lisin. Details of Demetra’s ownership structure are not public. After consolidating its agricultural assets over a five-year period, the state lender VTB sold 45% of its stake in Demetra by 2023. Demetra said in 2023, that a company?whose beneficiary is a state-owned Oman investment fund would become a shareholder. Reporting by Gleb Stlyarov and Olga Popova, Writing by Gleb Brnski, Editing by Mark Trevelyan and Andrew Osborn.
Turkish Airlines replaces its CEO and Chairman, but withholds dividends citing geopolitical risk
Turkish Airlines underwent a major management revamp, replacing its CEO and Chairman, while also opting not to pay dividends from earnings in 2025, citing increased uncertainty across the operating environment, as well as geopolitical instability.
Ahmet Olmustur has been named CEO of Turkey's airline following the retirement from Bilal Eksi, who was previously Chief Commercial Officer.
Turkish Airlines announced to the Public Disclosure Platform that Murat Seker, the new chairman of the board who replaces Ahmet Bolat (who resigned), was named.
Changes are being made as the aviation industry struggles with fuel prices that fluctuate, capacity constraints and persistent disruptions caused by conflicts in the Middle East.
The board appointed Metin Gulsen as the 'chief financial officer'. Harun Basturk was previously a senior vice-president for regional sales and had been named senior vice-president of accounting.
The airline announced in a separate statement that it would not distribute any dividends from its net profit of 2.65 billion dollars ($118.2 billion) for 2025. Instead, they will retain the earnings to conserve cash.
The company stated that the decision was made because it believed that maintaining a solid cash position would better serve the long-term interest of shareholders given the current war in the Middle East and the uncertainty this brings.
Turkish Airlines has been paying out dividends to its shareholders for the past few years. The last time Turkish Airlines did not pay a dividend was in 2023. In 2025, it approved a cash payout of?6.88 Lira ($0.1540), per share from its 2024 profits.
Turkish Airlines shares rose 1.1%, while Turkey's BIST 100 index grew 1.37%
(source: Reuters)