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Transportation chief Duffy believes that saving Spirit Airlines could be a case of putting 'good money into bad'.
Sean Duffy, the U.S. Transportation Secretary, raised concerns on Tuesday about using taxpayer funds to save a?low-cost?bankrupt airline Spirit Airlines. "We don't want Spirit to lose money. They've spent a lot and haven't been profitable. Would we then just delay the inevitable, and own it? Duffy stated in an interview. "Or is Spirit on a path to success and I don't know what the answer to this question is." Donald Trump stated Tuesday that he would love to see someone buy bankrupt low-cost airline Spirit and said the federal government might get involved. Trump said, "It's a 14,000 job situation. Maybe the federal government could help out." Duffy said that it seems no one wants Spirit, and it's not clear what Spirit's customers feel about the airline. What would someone buy? Duffy asked. Duffy asked. Spirit?did not immediately respond to an?request? for comment. Duffy said that he will speak to Trump about Spirit's fate on Tuesday. Duffy said that it takes more effort from within the government to determine where we should be going. If you decide to do Spirit, then who is next? "Who is the third?" "I am concerned about the Spirit employees... we also need to be good stewards with the tax dollars." We can't just put money into investments that will be lost, or to forestall the inevitable. Duffy stated that some people believe the administration wants all primary carriers to be merged with low-cost carriers. Duffy stated, "I envision a world in which I would like low-cost carriers." Low-cost carriers are well suited to a certain?market. There are also premium carriers. "I want to see each market vibrant and competitive." Spirit Airlines' bankruptcy plan was under renewed pressure last week after a sharp increase in jet fuel prices. Spirit seeks court approval for its second restructuring in less that a year after it emerged from bankruptcy in March of 2025. In 2024, the administration of 'Joe Biden' went to court to block JetBlue Airways from acquiring Spirit. They argued that this would eliminate an airline which helped keep fares low. Duffy stated, "If Spirit disappears, JetBlue will be better off." JetBlue wouldn't be happy if we bailed out Spirit. (Reporting and editing by David Shepardson, Chizu Nomiyama, and Chris Sanders).
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Senators urge US Postal Service to not implement Trump's mail-in voting order
On Tuesday, a group of?of?37 Democratic U.S. Senators urged the U.S. The U.S. Postal Service is urging the President Donald Trump to not comply with an executive order issued on March 31, tightening rules for mail-in voting. In a letter, Gary Peters and Alex Padilla along with Chuck Schumer, Dick Durbin, Maria Cantwell and others said that the executive order, issued by President Donald Trump on March 31, sought to illegally transform USPS into an election administration agency, with the ability to decide who can vote via mail, as well as to set ballot specifications. USPS has not yet commented. Trump's executive orders requires USPS only to deliver ballots to those voters who are on the approved mail-in voter list of each state. States are also required to keep election records for a period of five years. The senators stated that "this directive will have a chilling impact on the eligibility of?Americans voters to exercise their right to vote constitutionally by imposing unnecessary obstacles and would?corrupt? the independent mission of?Postal Service in determining who can vote via mail," adding USPS has the final say over whether or not to transmit a vote's absentee votes to election officials. A coalition of Democratic state attorney generals filed a lawsuit against Trump's order earlier this month. They joined other suits being pursued by the Democratic Party, voting rights activists, and arms of the Democratic Party. Trump, as a Republican has been promoting the false claim for years that his defeat in the 2020 elections was due to widespread voter fraud. He has also called for tighter voting rules by mail ahead of the midterm elections of November. In March 2025, Trump forced Postmaster General Louis DeJoy out of his job. David Steiner, the current postmaster general of USPS, warned that USPS may run out money as early as next year. Trump has nominated 4 candidates to the U.S. Postal Board of Governors are currently awaiting confirmation hearings. The state attorneys general argue that Trump's order interferes unlawfully with mail-in votes by ordering USPS to block delivery of ballots on criteria outside the control of the states. Trump has also urged Congress to pass the SAVE America Act. This bill would require proofs of U.S. Citizenship to register to vote, and photo IDs to cast a ballot. The bill was passed by the U.S. House of Representatives but is facing a long road in the Senate. (Reporting and editing by Nick Zieminski; David Shepardson)
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United Airlines' outlook is disappointing as jet fuel surge threatens near term
United Airlines forecast Tuesday that its second-quarter and annual profits would be below Wall Street's estimates as high jet fuel prices squeeze margins. This will cloud the airline's near-term outlook even though demand for premium travel remains robust. The Chicago-based carrier expects to earn between $1 and $2 per share adjusted in the second quarter. According to LSEG data, the midpoint, $1.50 is lower than analysts' average estimates of $2.08 per share. It predicted a full-year profit between $7 and $11 per share compared to an expectation of $9.58. United's stock was down about 2% after-hours. The airline's?forecast is based on a forward curve for Gulf Coast jet fuel as of April 17. It cautioned that the results could be at the upper or lower end of its guidance, depending on whether prices are falling or increasing. The cautious forecast is further evidence that the fuel shock caused by the Iran War has reshaped the economics of U.S. airlines. Delta Air Lines already canceled its growth plans, while Alaska Air retracted its full-year forecast and claimed that current fare increases only covered about a third its increased fuel bill. Spirit Airlines, a financially weaker carrier, is facing renewed strain. GE Aerospace has warned that the rising oil prices have created a more difficult environment for its airline customers. United expects to spend about $4.30 a gallon on fuel during the current quarter. This highlights the rising cost of energy. The airline expects to recover 40% to 50% of fuel price increases through fares and revenue measures during the second quarter. This will improve to 70% to 80% by the third quarter and up to 85% to 100 percent in the fourth quarter. This suggests that the airline is expecting its ability to recover fuel costs via fares and other revenue measures will improve over time but not enough to offset the latest cost'surge in near-term. PREMIUM DEMAND HOLDS United beat analysts' expectations of $1.07 per share by reporting a first-quarter adjusted profit of $1.19. The total revenue increased 10.6% on an annual basis to $14.6 billion. Premium revenue increased by 14% compared to a year ago, corporate revenue was up 14%, and loyalty revenue was up 13%. This shows that the higher-margin areas of its business are still thriving. Fuel costs rose $340 million in the third quarter, a 12.6% increase from a year ago. United Airlines said that capacity for the third and fourth quarters of 2018 is expected to remain flat or increase by 2% compared to a year ago. This indicates a more "restrained" approach to growth, as airlines seek to protect their margins. The airline will continue to be flexible with its capacity and may make further reductions or additions based on demand. The company will hold a conference call on Wednesday morning with analysts and investors to discuss its financial performance. (Reporting and editing by Pooja Deai; Rajesh Kumar Singh)
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US warns that it will soon run out of money for paying airport security staff
U.S. airports may face long security lines as early as next month after the homeland security chief announced 'on Tuesday' that he would run out of money in order to pay for 50,000 workers because of a partial shutdown of the government. Donald Trump directed DHS in late March to use emergency funding to pay Transportation Security Administration employees who had been without paychecks for six weeks. This caused disruptions at U.S. Airports. Homeland Security Secretary Markwayne Mullin said on "Fox and Friends," Tuesday, that the funds would run out in early May. Mullin stated that "that money will be gone if I continue on this path in the first week of may, as my payroll at DHS amounts to just over $1.6 billion every two weeks." Mullin said that after the next pay check, "there is no emergency fund. The president cannot do another executive order to allow us to use the money because there is no money left." TSA workers were also not paid for six weeks during a partial shutdown of the government in autumn last year. Airlines for America CEO Chris Sununu said on Tuesday that Congress must move quickly to fund DHS. Sununu is the CEO of Airlines for America, which represents American Airlines, Delta Air Lines and United Airlines. The TSA has been in existence for nearly 25 years. In March, a weeks-long standoff between Congress and the TSA caused some security lines to exceed 4 hours. Since mid-February, more than 500 TSA agents have quit. Senate Republicans are expected to'move forward in this week on a budget plan that would increase funding for DHS agencies over the next three-year period, said Senate Majority leader John?Thune as Congress seeks to end a partial shutdown at?DHS. Before authorizing any additional funding, Democrats have pushed to impose a number of new restrictions on ICE and Border Patrol. Both operate under DHS's direction. They have argued that ICE & Border?Patrol must follow the same rules as other police forces in the United States. This includes a requirement for agents to obtain judicial permits before entering private homes. (Reporting and editing by Chris Reese, Lisa Shumaker, and David Shepardson)
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Alaska Air: Fuel surge puts earnings at risk as it holds fares
Alaska Air Group announced on Tuesday that strong travel demand, higher fares and a sharp rise in fuel prices are helping to offset the?rise. The airline also lowered its outlook for the full year and warned about a severe hit to earnings during the second quarter. The surge in jet-fuel prices after the Iran War is the first real stress test for the airline industry since the pandemic. Profits are squeezed even though demand remains steady. The airlines sell their seats in advance, and can't raise the price quickly. This leaves them "exposed" when fuel prices rise. Alaska Airlines said that bookings were stable despite steep fare increases. In recent weeks, Alaska's core U.S. markets have seen a 20% increase in fares compared to a year earlier. This could support strong revenue growth in the second quarter if current trends continue. Benito Minicucci, Chief Executive of the company, said that a strong demand background and a stable fare increase offset some of this pressure. However, the cost increases are not fully covered by higher fares. Alaska Airlines said that it has recovered 'about one-third' of the increase in fuel costs. This gap is expected to affect earnings for the second quarter. FUEL SURGE CLOUDS FOREWARD Fuel prices are also becoming more unpredictable. The airline reported that prices had fluctuated between $4.45 and 5.15 per gallon over the last week, making it difficult to plan. It also prompted it to withdraw its full-year forecast. Refining margins has exacerbated the cost spike. Alaska stated that margins in Singapore increased by more than 400% during the first quarter. This made what was usually one of their cheapest fuel sources into its most expensive source. Singapore is still a major long-term advantage for the airline. The airline is aiming to increase its fuel sourcing from Singapore to up to 30%-40% over time. The demand remains strong across the board. The airline reported that premium travel rose by 8%, corporate travel was up 19% and advance bookings for corporate customers were nearly 30% higher. Alaska has said that it does not anticipate fuel supply disruptions on its network. However, the industry must address long-term issues with jet fuel supply, particularly along the U.S. West Coast where refinery and pipeline capacity are limited. The airline said that it has reduced capacity in certain markets to protect its margins, while continuing to invest on premium seating, expansion internationally and loyalty. (Reporting and editing by Nick Zieminski, Rajesh Kumar Singh)
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Argentina port protest delays 10 ships waiting for grain
A source said that?truckers blocking access to the terminal in Argentina's Quequen port, who were demanding higher freight rates, caused at least 10 vessels to be delayed on Tuesday. Source: "No trucks entering with grain. We are completely paralyzed." Source: The protest was'staged by truckers camped along the road leading to the port. They are blocking grain trucks from passing while they negotiate tariff increases with grain storage companies and farm producer groups,' the source stated. In 2025, Quequen in the Buenos Aires province loaded 2.4 millions metric tons (that's 20%) of soybeans, which is equal to the oilseeds exported by Argentina in 2018. The port is home to major exporters such as Bunge, Cofco, and the local cooperative ACA. More than 80% of the grain that is shipped to Argentina's ports are transported by trucks. This action temporarily affected the Bahia Blanca port. The Argentine ports Chamber said Monday that the truckers protest had prevented exports?worth $450 million. The Rosario ports, which handle more than 85% of Argentina’s grain exports and almost all its soy oil, soymeal, and other products, are operating normally. (Reporting and writing by Maximilian Heath, Editing by Sarah Morland; Writing by Brendan O'Boyle)
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Iran has not yet decided whether it will attend the talks as the ceasefire deadline approaches
Iran announced on Tuesday that it had yet to decide if it would attend the last-ditch talks with the United States after U.S. troops boarded an Iranian oil tanker at sea, with only a day remaining before the ceasefire in the Gulf War expires. Donald Trump stated that he was hoping to achieve a "great agreement" to end the war. However, he didn't want to extend the ceasefire and said that the U.S. Military would be "ready to go" in the event of a failure to negotiate. Vice President JD Vance had not yet boarded a plane for Islamabad where the center of the city was closed and a hotel cleared to host the talks. Vance will attend additional meetings on Tuesday in Washington, according to a White House official. IRAN ACCUSES U.S. PIRACY Esmaeil Bahaei, spokesperson for the Iranian Foreign Ministry, said on state television that Iran still had not decided whether it would attend the conference. He called the boarding of the oil tanker and the seizure on Sunday of another cargo ship "piracy at the sea and state terror", saying that it called Washington's commitment to negotiations into question. Baghaei stated that "the aggression against Iranian vessels and the continuing pressure indicates the continuation of the opposing side's contradictory behavior." Attaullah Tarar, Pakistan's Information minister, said on X in a posting that Pakistan is still waiting for Iran to reply to its invitation. "Pakistan has been in constant contact with Iranians. We are pursuing a path of dialogue and diplomacy." TRUMP SAYS MILITARY IS 'RARING TO GO' When asked about the possibility that the truce could be extended, Trump replied to CNBC by saying: "I do not want to do this." We don't really have that much time." He added, "I'm expecting to bomb because that is a better attitude with which to enter the situation." "But we are ready to go." "I mean, the military are ready to go." According to IRNA, the Iranian state news agency, Fatemeh Mohajerani, a spokesperson for the Iranian government, said that: "We don't want to be attacked, but if this happens, we will respond even more strongly than before." U.S. SAYS THAT IT BOARDS A TANKER "WITHOUT INCIDENT" The U.S. Military said that its forces had boarded the Tifani tanker, which was under sanctions due to trading with Iran. This operation took place "without incident". According to tracking data from?MarineTraffic, the vessel reported its last position as being near Sri Lanka on Tuesday morning. The vessel was almost fully loaded with two million barrels of crude oil and had indicated Singapore as its final destination. U.S. Central Command stated that "We will continue to pursue global maritime enforcement to disrupt illicit networks, and interdict vessels providing material assistance to Iran -- wherever they operate." Iranian officials publicly cited the U.S. ship blockade as a reason to not negotiate. Trump stated on social media that Iran violated the ceasefire numerous times, but did not provide any further details. He told CNBC the blockade was a success, and that the U.S. is in a good position to get a "great" deal. OIL PRICES RISE AGAIN Confusion has surrounded the exact timing of the end of this ceasefire. Trump announced that it would last for two weeks starting on the evening of Tuesday April 7th in Washington. He said that this week it will run until the evening of Wednesday, April 22. A Pakistani source who was involved in the negotiations said that they would also expire on Wednesday at 8 pm Eastern Time, which is 3 am Thursday in Iran. Iran has blocked the Strait of Hormuz, which controls the access to the Gulf for all ships except its own. The strait was reopened last week, but the decision was reversed on Saturday when Trump refused to lift the blockade against Iranian ports. The strait is now closed, and the 20 million barrels of crude oil that crossed it each day are no longer available to the world. Ten days ago, a first round of talks ended without agreement. Tehran had ruled out a subsequent round because the U.S. refused its blockade after seizing an Iranian cargo vessel. Trump has threatened that if a deal is not reached, he will attack Iran's civil infrastructure. A source in Pakistan involved with the talks said that there was momentum to resume the talks and Vance would still be expected in Islamabad. Wall Street stocks largely declined, while global equity markets fell as optimism about?peace negotiations faded. Oil prices rose about 3%. IRAN NUCLEAR POWER PROGRAMME - A Critical Issue Trump has said that Iran must not be able to produce a nuclear weapon. He wants an agreement which will prevent future oil price increases and stock market fluctuations. He wants Iran's stockpile of highly-enriched uranium to be destroyed, as it could, if further enhanced, be used in a nuclear weapon. Tehran hopes to use its control over the Strait of Hormuz to reach a deal to avoid a re-start of the war, lift sanctions and retain more of its nuclear program, which, it claims, is for peaceful purposes. Thousands of people have died in U.S. and Israeli strikes on Iran, as well as a parallel Israeli bombardment campaign and invasion. The war has sparked fears of a global recession and a shock to energy supplies. Pakistan has prepared to host the discussions despite the uncertainty. Officials said that nearly 20,000 security personnel had been deployed in Islamabad.
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EU finds Chinese bidder for Lisbon subway line benefitted from unfair subsidies
The European Commission announced on Tuesday that a Chinese company, which was chosen to build a new Lisbon metro line, received 'unfair' foreign subsidies. This forced the consortium leader Mota-Engil, to hire a Polish firm instead. In a statement, the European Commission stated that the Metropolitano de Lisboa commissioned the 'Violet Line' and was authorized to hire Mota-Engil led consortium provided they replaced the Chinese rolling stock maker CRRC Tangshan by the Polish competitor PESA. In a statement, the Commission said that it began an 'in-depth' investigation in?late 2025. It found that the unit of Chinese state owned CRRC had benefited foreign subsidies which distorted the procurement process and gave them "an unfair competitive edge" at the expense of other bidders. Portugal CRRC Tangshan has not?immediately responded to a comment request. The 'Violet Line' is a surface light-rail metro that connects Odivelas to Loures, both located north of Lisbon. The base price for the project is around?600 millions euros ($705.72 million) and it's scheduled to be completed in 2029.
Fuel shock causes United Airlines to see a weak Q2 and full-year profit
United Airlines?forecast?second-quarter and?full-year -profits -below Wall Street expectations on Tuesday as a'surge in fuel -prices?squeezes -margins and clouds -its near-term outlook.
The Chicago-based carrier expects to earn adjusted earnings between $1 and $2 per share during the second quarter. LSEG data shows that the midpoint, $1.50 is lower than analysts' avg. estimate of $2.08.
It predicted a full-year profit of $7 to $10 per share, compared to an expectation of $9.58.
United expects to spend about $4.30 a gallon of fuel during the current quarter based on the curve forward as of April 17. This highlights the increasing pressure due to higher energy prices.
The airline said it expected to recover only 40% - 50% of the fuel price increase through fares and other revenue measures during the second quarter. This figure would improve to 70% - 80% by the third quarter, and up to as much as 85% % to 100% in the fourth quarter. (Reporting and editing by Pooja De Sai; Reporting by Rajesh Kumar Singh)
(source: Reuters)