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Canada invests C$4.7 Billion to build VIA Rail Cars domestically
The Prime Minister, Mark Carney, announced on Thursday that his government will invest C$4.7 billion ($3.41billion) in Canada to build and maintain VIA Rail's passenger cars. This is the first time the company has built its cars domestically in 40 years. For the first time since four decades, VIA passenger cars will be assembled and produced in Canada. Cars that were previously built in the United States are now being built here in Thunder Bay by Alstom Canada," Carney said at a news conference in Thunder Bay. Carney stated that the investment will support 313 new-generation cars in Ontario and Quebec and nearly 700 jobs. The announcement coincides with a worsening of the trade war between Canada and the United States. The announcement comes amid a worsening trade war with the?U.S. Carney said that his government is "ready" to strike a deal with Washington when it's ready. But, any agreement must have stability and credibility.
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Airbus reduces A330 deliveries following a stray item found in the plane
A person with knowledge of the situation said that Airbus was forced to slow down deliveries of the A330neo after a stray instrument was found in the tail section on an aircraft currently in production. The company confirmed that it had recently discovered a 'quality issue' on a horizontal tail plane A330 in an email. This led us to inspect A330s during the production process and slow down monthly deliveries throughout the summer. The root cause has been identified, and A330 deliveries are now resumed. Bloomberg News was the first to report on the quality lapses and delays. Airbus did not deliver any A330s in either June or July. Airbus data will be released 'next week and is expected to show that only one A330 out of 57 jets was delivered in the month of August. A person with knowledge of the issue said that the problem was caused by a tool found inside the aircraft's structure. It was discovered during an inspection before delivery. Airbus' Spanish factories manufacture the horizontal tail plane that controls the nose angle of an aircraft. Airbus has not revealed where the aircraft was at the time the object was 'left behind or found. The person stated that the discovery was not connected to a recent?of strikes in Spanish?plants. The industry has repeatedly launched campaigns to ensure that loose objects are not damaged by Foreign Objects, including tools and rags. RFID and internet-connected technologies are being used by manufacturers to track tools, equipment, and other items. The Australian Transport Safety Bureau stated in a report published last month about a maintenance failure on an aircraft that was already in service that FOD could pose a serious risk to the safe operation of an aircraft.
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France begins testing Tesla's self driving tech
The French Ministry of Transport, Philippe Tabarot, announced that France had begun testing two cars in order to assess Tesla's FSD (advanced driver assistance system). This could be a major step towards Europe's approval of Elon Musk’s autonomous driving technology. The Netherlands Road Authority RDW approved Tesla’s Full Self Driving System for use on Dutch highways on a proviso basis in April. This prompted Belgium, Denmark and Estonia to follow suit in anticipation of a bloc wide vote on the plan that could happen as soon as next month. FSD is an assistance system for drivers that allows them to accelerate, brake and steer their car while the driver remains available. However, it does not result in a self-driving vehicle. Tabarot said in July that the safety 'trade-offs' were not sufficient to justify an authorisation. This was specifically true for areas such as speed limiters and driver attention alerts. In a late-night post on X, the minister?said he'd had "a productive exchange" with Musk about the technology. He had worked closely with Tesla over several?months to adapt the technical aspects needed by France?to approve it. "With the supply of two Tesla vehicles with FSD, we now enter a new phase - that of road testing," he stated. Test Results Expected Mid to Late September In a photo that was shared with the post, Musk is smiling on a computer monitor in a videoconference with Tabarot. A source in the transport ministry said that Tesla had initiated the meeting. Tesla had no immediate comment. The company had previously said that FSD approval was key to increasing sales in Europe. The electric vehicle manufacturer said earlier this week that its FSD system had recorded 4.1 times less collisions than Tesla cars driven manually in the five European countries where the technology is allowed. This was based on a total of more than 100,000,000 km (62,000,000 miles) worth of driving data collected between?April?and?August. A source from the transport ministry said that France wanted to conduct its own tests in order to verify the data provided to it by the Netherlands and Tesla and test the system using French roads and urban areas, which are different to those of other countries. The aim is to have the test results by mid-late September so that it can vote on a bloc decision in the coming months. The EU's Technical Committee on Motor Vehicles is due to meet on 6 October. The source from the Transport Ministry said that a vote could take place on that day, or at the next group meeting, which is scheduled for early December. He also added that he expects Tesla to be willing to address their concerns and allow the technology to become approved in Europe.
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Utilities NextEra and Santee Cooper switch legacy systems to Google AI
Google's artificial intelligence will replace legacy systems at major U.S. electricity companies NextEra Energy and Santee Cooper. This includes weather forecasting, certain operational planning and other legacy systems. The development of AI is upending the U.S. Electric Utility industry. Data centers are driving up the power demand, while utilities try to implement AI in their businesses at the same time. Santee Cooper has announced that it will be switching from its current weather prediction to Google AI tools. The company claims these are targeted enough to "predict" changes in the'microclimates' caused by two large South Carolina lakes. * The development of long-term hedge strategies and near-term planning are heavily influenced by weather forecasts. Santee Cooper's CFO Tami wilson said that if the company is caught off guard by unpredicted weather changes, buying power on the spot market can cost $100,000 per hour. NextEra has also announced that it launched a system developed with Google's Gemini Enterprise Agent Platform. The system will bring together information on power generation, fuel, and energy storage to help the company and its customers plan and work on-the-ground.
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Sources and data: Russia ships more than 10 millions barrels of crude oil via Arctic to China
Two trade sources and LSEG data show that Russia has shipped over 10 million barrels via the Northern Sea Route this 'year. This is a boost to supplies to China, as buyers look for alternative sources amidst disruptions in iranian oil exports, and worries about Middle -East shipping routes. The NSR is navigable between July and October, offering a quicker route to Asia compared to the usual Suez Canal. Last year, Russia shipped 13 million barrels through the 'Arctic Route' during the entire navigation season. This suggests that the demand for supplies via the NSR this year is high. LSEG data shows that China is the only destination of crude?cargoes shipped via this route. However, traders?said that deliveries to other Asian countries including India are planned for later in the season. The data showed that 12 oil tanks have used the Arctic Route this year. All of them are currently scheduled to discharge cargoes in China. Traders said that China recently increased its purchases of Russian crude due to a tightening iran oil supply and concerns about transit through the Strait of Hormuz. This has pushed premiums for Russia’s Far -East ESPO blend crude for delivery in November to China to new highs. The NSR is a new trade route that Russia has been promoting as an alternative to the regular shipping lanes, which are affected by geopolitical tensions. Rakesh Mihshra, Director of Indian Logistics Company Y&H Cargo told Russia's TASS News Agency at the Eastern Economic Forum held in Russia last week that 'the importance of the route is increasing' because 'of the growing uncertainty in the 'Middle East'. Mishra stated that the Middle East situation is unclear and many airlines have canceled their services through the Suez Canal.
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Boeing fined FAA $3.1 Million for widespread safety violations
Boeing?paid a fine of $3.1 million to the U.S. federal aviation?administration this year after the agency claimed that the planemaker committed a number?of safety violations including?actions related to the '2024 Alaska -Airlines MAX 9 in-flight emergency. The FAA announced Wednesday. Boeing paid the FAA in January, and it was not disclosed before. Boeing confirmed that it had paid the fine. Boeing was also fined last year by the FAA for interfering in safety officials' autonomy and for presenting two unairworthy aircraft to the agency. The FAA reported that it had found hundreds of?quality system violations in 2024 at the Boeing 737 Factory in Renton Washington and the 737 Fuselage Factory of the then Boeing Subcontractor Spirit AeroSystems located in Wichita Kansas from September 2023 to February 2024. The FAA has found that a Boeing employee 'pressured' a coworker performing tasks for the FAA, to sign off a 737 MAX in order to meet the delivery schedule of the company. This was despite the fact that the coworker determined the aircraft did NOT comply with regulatory standards. Democratic U.S. Senator Richard Blumenthal called the FAA's fine insufficient, adding, "For Boeing such fines are easily absorbable as a cost of doing business and not a meaningful dissuasion to dangerous behavior." Blumenthal investigated Boeing safety issues before and presided over a committee that looked into the Alaska mid-air cabin blowout. The panel's report revealed that Boeing whistleblowers had raised serious concerns about the manufacturing processes of the company. Alaska Airlines' incident, in which a 737 MAX was found to be missing four bolts, damaged?Boeing’s reputation. It led to a temporary grounding of the MAX 9 as well as a FAA monthly production limit of?38 aircraft that was lifted in October 2025. In July, the FAA announced that it would permit Boeing to issue airworthiness certifications for all 737 MAX aircraft and 787 planes following "months-long data analysis and safety reviews demonstrating consistent quality production."
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Sources say that Chinese buyers are seeking alternatives to Middle East oil as they increase their purchases of Russian ESPO crude.
Four traders reported that the premiums for Russia’s Far East ESPO blend crude for delivery in November to China have risen to record levels as Chinese refiners increase their purchases amid shrinking Middle East and Iranian supplies. ESPO cargoes due to be delivered at the end October and November trade at a premium of over $7 a barr to ICE Brent. According to traders, offers have been heard up to a record-breaking plus $10 a barron on a shipped basis to China. Trading firms said that Sinopec, the state-owned Chinese refiner, was at the forefront of this buying spree, which reflects a strong demand for alternative crude oil supplies, as traders continue to express concerns about disruptions in shipments across Strait of Hormuz. As tensions in the Middle East threaten regional oil supplies, Chinese refiners are increasingly turning to Russian grades. Early trade on Wednesday saw oil prices rise by nearly 1%, after the United States & Iran exchanged strikes overnight. This fueled fears of more supply disruptions & reduced expectations of a near-term ease in tensions. Traders said that the strong Chinese demand for ESPO had already led to most of November's cargoes selling well ahead schedule. IRANIAN CRUDE IS NOW AVAILABLE AT A LOWER PRICE The traders reported that November ESPO cargoes started trading this week. Premiums for deliveries to China's independent re-finers (known as teapots) have risen to $10 per barrel delivered. The rally is a dramatic turnaround from the early?summer when ESPO blend cargoes were trading at discounts to ICE Brent. As demand has increased, October cargoes are now back in premium territory. The latest increase in crude oil prices was attributed to a decrease in the availability of Iranian crude. This has traditionally been the main source for teapot refiners from China. After the U.S. resumed its naval blockade mid-July it forced buyers to look for replacement barrels. ESPO blend, a product highly prized by Chinese refiners due to its proximity?and short shipping time, is now one of the biggest beneficiaries?of this shift in crude purchasing patterns. Participants in the market said that premiums will likely remain high as long as there is uncertainty about Middle Eastern supplies and Iranian imports.
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Iran's website shows that more ships are blacklisted for trying to pass through the Hormuz Strait.
According to a government website, Iran has added new ships that it considers non-compliant and subject to fines or confiscation if they try to sail through Strait of Hormuz. Tehran announced on August 24 that it had blacklisted 45 tankers for violating its rules to navigate the Strait of Hormuz and that any vessel transferring cargo would be subjected to action. This comes six months after the U.S.-Israeli war began. Updated on the website of the Persian Gulf Strait Authority, a body created by Iran to'manage the strait', eleven more ships have been added. The total number of blacklisted vessels is now '56. Sources in the shipping industry said that the update took place within the last 24 hours. Iranian officials have not responded to a comment request. This list is restricted to very large crude carriers, liquefied petroleum gas, liquefied natural?gas, and other clean product vessels. The PGSA website states that "any vessel cooperating (via STS oil transfer, transshipment), will be added to this list." To request removal from the area, vessels must submit an official application with reasons." ADNOC Logistics and Shipping of the United Arab Emirates, ADNOC subsidiary Navig8 tankers and Saudi Arabian national shipping carrier Bahri are among the owners of some of the previously named ships. Sources with direct knowledge told late August that after the announcement of the 'blacklisted' tankers, three Indian oil refiners, and one global energy'major, planned to stop using the vessels because of security concerns. The restrictions are likely to further restrict efforts to export oil through the strait. Traffic in this area, which handled 20% of all global oil and LNG shipments before World War II but has since been reduced to a trickle, is expected to continue to decline. The U.S. imposed sanctions?? on the PGSA? in May. This complicates any engagement with this body, which could result in the U.S. Treasury freezing assets if any fees or transactions are paid.
Fuel costs are increasing, so airlines are reducing their prices and cutting back on their outlook.
The U.S. and Israeli war against Iran, which has pushed up jet fuel prices, has shook the aviation industry around the world. Airlines have been forced to increase fares and re-evaluate their financial forecasts.
In recent weeks, jet fuel prices have increased from $85-$90 per barrel up to $150-$200 per barrel. This is a major financial blow to an industry that relies on fuel for a quarter of its operating costs.
Here is an alphabetical list of the ways airlines are responding to this issue:
AEGEAN AIRLINES
The Greek airline anticipates that the suspension of Middle East flights, as well as a spike in fuel costs, will have "a significant impact" on their first-quarter earnings.
AIRASIA X
The executives of the?Malaysian airlines said that the company has cut 10% of its flights in the group. Fuel prices have also been increased by about 20%.
AIR FRANCE-KLM
The airline group announced that it would increase the price of long-haul tickets to offset rising fuel costs. Cabin fares will rise by 50 euros ($58).
AIR INDIA
The Indian flag carrier announced it would change its fuel surcharge system from a flat-rate domestic surcharge grid to one based on distance. The airline said that surcharges for international routes do not compensate the astronomical rise in jet fuel prices.
AIR NEW ZEALAND
On April 7, the airline announced that it would cut flights in May and June, and raise fares. It was one of the first airlines to announce a large increase in ticket prices after the conflict began. The airline also suspended its earnings forecast for the full year due to volatility in the fuel markets.
AKASA AIR
Akasa Airlines, based in India, announced that it would be introducing fuel surcharges ranging from 199 to 1,300 Indian Rupees ($2 - $14) for domestic and international flights.
ALASKA AIR
The U.S. carrier said that it would raise fees by $5 for the first bag and $10 for the second for flights in North America, including Hawaiian Airlines. The third checked bag was raised from $50 to 200 dollars.
AMERICAN AIRLINES
The U.S. carrier announced that it would increase the fees for checked baggage by $10 for each of the first two bags, and $150 for the third bag, on both domestic and short-haul flights. The airline has also reduced certain benefits for economy travelers.
The fuel price increase was expected to cause a $400-million increase in the first quarter expenses.
CATHAY PACIFIC
Hong Kong Airlines said that it will cancel about 2% of its scheduled passenger flight between mid-May and the end of June. Meanwhile, HK Express, its budget airline, is cutting around 6%. The carrier had previously announced that it would increase its fuel surcharge across all routes by 34% from April 1, and to review the charges every two weeks.
CEBU AIR
The Philippines-based carrier said that the sharp increase in fuel prices is a major concern. It will continue to review pricing and network strategies for a reduction of?the impact.
CHINA EASTERN EXPRESS AIRLINES
Air China said that it would increase fuel surcharges on domestic flights starting April 5. Flights of less than 800km will be charged a surcharge of 60 yuan, and flights above 800km will be charged a surcharge 120 yuan.
DELTA AIR LINES
Delta announced that it would reduce capacity by 3.5 percentage points compared to its original plan, and increase fees for checked baggage in order to offset the rising costs of jet fuel. The price increase will be $10 on first and second bags and $50 on third bags.
The U.S. carrier pulled all planned growth in capacity for the current quarter, and forecast profits below Wall Street expectations. Delta CEO said that it would not update its full-year forecast due to uncertainty about how long fuel prices would rise.
EASYJET
EasyJet CEO Kentonjarvis warned that European consumers can expect to pay higher prices for tickets towards the end summer when fuel hedges expire.
FRONTIER AÉRIENS
Fuel prices have increased dramatically since the airline's forecast.
GREATER BAY Airlines
The Hong Kong-based firm said that it will increase fuel surcharges for most routes starting April 1, but keep them the same on routes to mainland China and Japan.
The carrier has announced that its surcharge on flights between Hong Kong and the Philippines will double.
HONG KONG Airlines
The airline announced that it would 'raise fuel surcharges up to 35% starting March 12th, with the biggest increase occurring on flights between Hong Kong, Bangladesh, and Nepal where the charges will rise from HK$284 to HK$384 (US$49).
British Airways' owner IAG stated on March 10, that it does not intend to increase ticket price immediately as it has hedged a large amount of fuel in the short to medium term.
INDIGO
India's largest airline announced that it will begin charging fuel fees on both domestic and international flights as of March 14. The charges include 900 rupees per flight to the Middle East, and 2,300 rupees per flight to Europe. Sources say that the company is lobbying for the Indian government's reduction of fuel taxes.
JETBLUE AERWAYS
Low-cost airline based in the United States has announced that it will increase fees for optional services, such as checked luggage, due to "increasing operating costs". The airline said that baggage prices would rise either by $4 or $9.
Sources with knowledge on the subject have confirmed that KOREAN will be in emergency mode as of April due to rising oil costs. The airline will implement phased responses based on the oil price levels and increase company-wide efficiency to offset rising fuel costs.
PAKISTAN INTERNATIONAL FLIGHTS
Fuel surcharges are cited as the reason for raising domestic flight prices by $20, and international flights by up to $100.
QANTAS AIRWAYS
Qantas, Australia's largest airline, said it had delayed its planned A$150-million ($106-million) buyback. It also increased the estimated fuel bill in 2026 for the second half to A$3.1-A$3.3 billion from an earlier A$2.5 billion estimate.
Scandinavian Airlines announced that it would cancel 1,00 flights in April due to high jet fuel and oil prices. In March, the airline had cancelled "couple hundred" of flights.
SAS, which has already raised flight prices, stated that the surge in fuel costs would be a major blow to the aviation sector, even if they tried to absorb them.
SPRING AIRLINES
Budget Chinese airline announced that it will increase fuel surcharges for domestic flights starting April 5. Details to be revealed later.
SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWAST AIRLINES
The American carrier announced that it would increase the fees for checked bags by $10 each for the first two bags. This will bring the cost to $45 and $55 respectively for the first bag.
The Portuguese airline claimed that its price increases would partially offset the impact of fuel prices changes on its revenues.
THAI AIRWAYS
The Thailand-based airline?said that it would increase fares between 10% and 15% in order to combat rising fuel costs.
TURKISH AIRLINES LUFTHANSA
SunExpress is a joint venture of Turkish Airlines and Lufthansa. It announced that it would be imposing a temporary fuel charge of 10 euros per person on routes between Turkey, Europe and the Middle East, starting May 1. The fuel surcharge will be applied to all bookings made after April 1, for departures after May 1.
Turkish Airlines announced on April 10, that it would not be distributing any dividends from its 2025 net profits, instead opting to keep earnings in order to conserve cash.
T'WAY AIR
As part of its efforts to combat the effects of the Middle East war, the South Korean low cost carrier announced on April 13 that it will furlough cabin crew in May and/or June without pay.
UNITED AIRLINES
Scott Kirby, CEO of the U.S. carrier, said that the airline will cut unprofitable flights in the next two quarters to prepare for the oil price remaining above $100 by the end 2027.
Andrew Nocella, United's Chief Commercial Officer, said that the company was able to increase fares in response to a rapid rise in jet fuel and oil prices.
In an email, the carrier said that it would also be increasing the first and second checked bags fees by $10 to customers traveling in Latin America, Mexico, Canada, and the United States.
VIETJET
Vietnamese budget airline?said that it had reduced flight frequencies on certain routes due to possible fuel shortages.
VIETNAM Airlines
Vietnam's aviation authority announced that the carrier will cancel 23 flights per day on domestic routes from April after it requested assistance from the government to remove an environment tax on jet fuel.
VIRGIN ATLANTIC
Corneel Kster, the CEO of the airline, told The Financial Times that despite adding fuel surcharges on fares this year it will struggle to achieve profitability.
VIRGIN AUSTRALIA
Virgin Australia has said that it anticipates an increase of jet fuel costs of between A$30 and A$40million for the second half this fiscal year. It also expects a 1% decrease in capacity during the fourth quarter. The airline had previously announced that it would adjust fares in order to reflect the rising costs.
WESTJET
Canadian Press reported that the airline would add a fuel surcharge of C$60 ($43), and will combine some flights to reduce costs.
(source: Reuters)