Latest News
-
FedEx and Advent-led consortium secures more than 89% of InPost's shares in the takeover offer
InPost, a Polish parcel locker operator, announced on Friday that FedEx International, Advent International as well as other InPost shareholders had offered 89.81% of its shares. InPost?reported in a press release that the minimum acceptance threshold of 80% shares had been reached. The consortium agreed in February to purchase InPost for approximately EUR7.8 Billion ($8.95 Billion)?in a cash-only offer of EUR15.60 per equity share. After the transaction is completed, InPost's shares will be removed from Euronext Amsterdam. It is one of Europe's biggest networks of automated parcel lockers. The company operates in nine countries, including Poland. The company will continue to be known as InPost and keep its headquarters and management structure in Poland. Since 2021, the shares of 'its company have been under pressure due to intense competition in its home market and heavy investment expenditure?to support rapid growth.
-
Major US airlines reject Air China's bid to schedule more US flights
Air China has been criticized by a group of major US airlines for its plans to schedule additional flights between Beijing and New York, Washington, as part of the President Xi Jinping meeting with Donald Trump. Airlines for America, which represents American Airlines, Delta Air Lines and United Airlines, opposed the request. US carriers are effectively prohibited from flying to China from the US eastcoast because they can't access Russian airspace. Chinese carriers, however, have the ability to fly some US flights. US Airlines said that adding two flights to the schedule would allow Chinese carriers to request additional regular flights, and they should be classified a 'charter flight. The US Transportation Department has proposed that in October 2025 Chinese airlines be banned from flying over Russia on routes between the United States and China. They claim the shorter flight times this practice allows puts American carriers at an unfair disadvantage. The proposal was withdrawn after it faced opposition from US agencies. USDOT and an attorney for Air China did not comment immediately. US airlines have long been critical of the decision to let Chinese carriers use Russian airspace to fly on US routes, because it allows them to reduce their flying time. It also burns less fuel and lowers costs. In its filing, released on Friday, the airline group said that Chinese carriers offer "shorter and less expensive routes?to and from China, as well as more economical flights?from and to the United States." In retaliation to Washington's ban on Russian flights over the US in March 2022, after Ukraine invaded, Russia has banned US airlines as well as many other foreign carriers. Chinese airlines are not banned, and they have used this advantage to gain market share over non-Chinese carriers in international routes.
-
Brazil Police seize devices from former iFood Employee in Trade Secrets Probe
According to the investigator, Brazilian police conducted a search and seizure this week on a former iFood worker who was suspected of downloading confidential commercial data before leaving the company to 'join rival 99Food. This case is the latest in a larger investigation into allegations of corporate espionage within Brazil's multi-billion dollar delivery industry. Competition has increased since the entry Chinese-backed platforms Keeta and 99Food owned by ride-hailing company DiDi Global. Angelo Lages is the 'police inspector in charge of the investigation, who led the operation on Wednesday. He said that the purpose of the search is to collect electronic devices to conduct forensic analyses and determine what has happened to the data. 99Food stated that it takes these reports seriously and does not tolerate the use illegally obtained data. It also said the person targeted by this operation is not a member of its staff. Theft of Information Alleged According to the industry group Abrasel, iFood is owned by Dutch investment company Prosus and controls about 80%. Last year, it processed orders totaling about $20 billion. iFood, in recent months, has publicly accused rivals of attempting to gain confidential business information by paying third-party firms for paid consultations and former employees. iFood stated that this week's operations were the result of a complaint they filed involving a?alleged theft by a former worker of confidential and strategic commercial information. They also added that they are pursuing legal measures in order to protect their data and partners. Inspector Lages stated that the former employee resigned iFood by 2025, after informing them he was joining 99Food. He also noted that a later internal review revealed the download of strategic files just before his departure. According to Lages, the former employee informed officers that he was no longer employed by 99Food. He is now working as an independent consultant. Investigators also want to know if other individuals or companies had access to this information. ANTITRUST DISSPUTES Cade, Brazil's antitrust regulator, is currently dealing with a number of competition disputes. Keeta accused 99Food using exclusivity clauses and contract provisions which allegedly made it harder for restaurants operating across multiple platforms. Separately iFood asked Cade earlier this year to examine the expansion strategies Keeta's and 99Food's, alleging that they rely heavily on subsidies and sustained losses in order to gain market shares.
-
Virginia tightens restrictions on data centers amid political backlash
Abigail Spanberger, the Governor of Virginia, said that as a result of increasing political backlash against'server warehouses and technology developed in them, Virginia is tightening its environmental, commercial, and permitting controls. Virginia, the state with the highest concentration of data centres in the world, has unveiled plans that include a ban on non-disclosure contracts and clean energy mandates for the projects. This move is in line with a series of similar measures taken by the governors of New York, Texas, and Pennsylvania recently to curb the rapid expansion of data centres, which are increasingly being built?to train artificial intelligence and deploy it. Spanberger said at a press briefing that Virginia's "Data Center Accountability Framework", which was announced in April, is intended to ease public concerns about the secrecy surrounding data centers' development and their impact on energy bills and the environment. "Community members demand action," Spanberger said. Data centers with a capacity of 25 megawatts and above would be exempt from the ban on non-disclosure contracts. The governor also said that data centers would be given incentives to develop solar and wind backup generators instead of diesel or natural gas-fired ones to help power their operations. The state legislatures will have to approve a part of the framework next year.
-
Bloomberg reports that Aramco has halted October crude oil deliveries to certain European refiners following a pipeline attack.
Bloomberg News reported that Saudi?Aramco informed at least two European refinery?customers on Friday that they would not receive any crude?oil in the next?month due to an attack on Saudi Arabia’s main pipeline into the Red Sea. The report stated that European refiners usually buy Saudi crude under term contracts that guarantee monthly deliveries, but Aramco informed its customers that the next month's delivery will not take place. Saudi Arabia informed European customers earlier that some crude cargoes will be cancelled due to a 'drone attack' which shut down its East-West pipeline, damaged three pumping station and disrupted oil loading at the Red Sea Port of Yanbu. Orlen, a Polish refinery, has sought alternative crudes after the disruption. According to traders, Orlen purchased North Sea grades in order to replace disrupted Saudi imports. Could not verify the information. Saudi Aramco didn't immediately respond to a comment request outside of regular business hours. Bloomberg reported that Aramco is working to 'partially restart the pipeline in days and return it back to full capacity within six weeks. Saudi Aramco also increased crude exports from the Gulf via ship-to-ship transfers off Oman's Sohar port to offset volume losses due to reduced Red Sea shipments.
-
London's marine insurance companies expand high-risk zone in the Black Sea as shipping attacks increase
According to a recent advisory, London's marine insurers have widened their high-risk area for the Black Sea as the conflict between Ukraine and Russia escalates. The Black Sea is an important route for the shipment of grain, crude oils and refined products. Russia, Ukraine, Bulgaria, Georgia and Romania all share its waters. In the last two months, Russia and Ukraine have intensified their attacks on each others' commercial shipping, escalating their five-year war. The Joint 'War Committee' (JWC), which is made up of syndicate members in the Lloyd's Market Association, and representatives from the London Insurance Company market, provides guidance to underwriters on insurance premiums. The JWC expanded its reporting requirements for the Black Sea to include the entire Black Sea area this week. "The coastal waters of Russia, Ukraine, and the Baltic States were already listed," Neil Roberts said in a note that accompanied the advisory on Thursday. Roberts is the head of marine and aviation at the LMA, and the secretary of the Joint War Committee. "However voyages in the territorial waters of neighboring countries still do not require notification." In recent weeks, war risk premiums have risen dramatically as a result of the attacks on dozens of ships in the Black Sea.
-
The small English club Oxford Utd apologizes for the 'United 93 clothing line'
Oxford United, a third-tier English club, has withdrawn its clothing line featuring the slogan "United 93%" and apologized for not knowing 'its historical context. United 93 is the callsign of one of the hijacked passenger jets in the 9/11 Al Qaeda attack on the United States. The merchandise was meant to be a nod to the club's founding date of 1893. A club statement stated that the range was released "without an understanding of its historical context and associated associations." "It should not have been sold and we take full responsibility for failing to do proper due diligence. We have immediately removed the collection and are reviewing our processes to make sure that nothing similar happens again. We would like to record our'sincere apologies' for this mistake and any?offence that may have been caused. After being hijacked by terrorists on September 11, 2001, United Airlines Flight 93 crashed into rural Pennsylvania in Shanksville. All 44 passengers and crew were killed. The 2006 documentary "United 93" chronicled the tragic events of the plane's flight towards the US Capitol Building.
-
Malaysian regulator will ask publicly traded firms to submit El Nino plans and is looking for deeper Middle East relations
Malaysia's Securities Commission will ask companies how they are preparing for El Nino, as it is concerned that businesses in the country may not be prepared for its effects. Forecasters warn of a super El Nino that could bring heat and drought to Southeast Asia. Conditions that are hotter and drier can affect crop yields, straining water supplies. This poses a risk to Malaysia's palm oil industry. "We are going to write to all major companies and ask: What is your El Nino Plan?" Mohammad Faiz said in an interview during an investor roadshow held in the UK. "And we'll then?have a conversation with them next to see if it worked or failed." Since a while, a number of regulators have required that companies disclose information about climate and weather impact. However, requests for specific events are typically not made public, even when they're made. Mohammad Faiz stated that the initiative will test whether climate-risk disclosures by companies translate into effective preparation. He argued many firms have not "seriously" considered how they would deal with drought, because Malaysia has historically abundant water resources. Separately he stated that the commission was?exploring closer ties with regulatory?in the Middle East in order to deepen Islamic financial links and channel more funds into Southeast Asia. In a first step regulators will examine the differences between how different jurisdictions classify stock as being compliant with Islamic Law, or Sharia. In July, Malaysia's Securities Commission signed an agreement that allows companies seeking dual listing to use one prospectus and a set of submission documents starting this month. Mohammad Faiz stated that Sarawak Energy is one of the IPO candidates which the commission encourages to consider a dual listing in order to achieve a higher valuation. He claimed that the company could reach a market valuation of $10 billion. Sarawak Energy didn't?respond to an?request for comments outside of office hours. Mohammad Faiz, when asked if AirAsia is on the regulator's watch list, said that he "neither confirmed nor denied" this. He added that the government has hired?consultants who will review the carrier's financials, though he wasn't aware of any plans to?takeover. AirAsia has not responded to a request for a comment. Tony Fernandes, AirAsia co-founder, said that the company had not been in contact with the government and that they did not require any bailout or rescue. Mohammad Faiz, speaking of the plans for the stock exchange, said that the government planned to increase the capitalisation of Bursa to 6.3 trillion Ringgit ($1.55 trillion), from the current 4.5 trillion Ringgit.
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 up to 25% of its operating costs.
Here is an alphabetical list of the ways airlines are responding to climate change.
AEGEAN AIRLINES
The Greek airline anticipates that the suspension of Middle East flights, as well as a spike in fuel costs, will have "significant impact" on their first-quarter earnings.
AIRASIA X
Malaysian Airlines executives claimed that the company has?cut 10 percent of flights in the group and imposed a fuel surcharge of around 20 percent.
AIR CANADA
The Canadian largest airline plans to reduce four of its daily flights to New York to 38 due to rising fuel prices. From June 1,?2026, the four flights to JFK International Airport are being cut.
AIR FRANCE-KLM
The airline group announced that it would increase the price of long-haul tickets to offset rising fuel costs. Cabin fares are expected to increase by 59 euros (50 euros) per round-trip.
KLM, the Dutch arm of the group, announced on April 16 that it would cancel 160 flights across Europe in the next month due to higher fuel prices.
AIR INDIA
The Indian airline said that it will change its fuel surcharge system from a flat surcharge for domestic flights to one based on distance. The Indian carrier said that surcharges for international routes do not compensate the steep rise in fuel costs.
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 broke. The airline also suspended its earnings forecast for the full year due to volatility in the fuel markets.
AIR TRANSAT
The Canadian airline announced that it would reduce its planned capacity by 6 percent from May to October of this year. Cuts are expected to be made on routes to Europe, the Caribbean and Cuba.
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 airline retracted its profit forecast for the full year and warned that margins would be severely impacted by the sharp increase in fuel prices. It has also reduced capacity in certain markets.
AMERICAN AIRLINES
The U.S. airline slashed their 2026 profit projection, pushing lower expectations to a lose, and stated that it expects its jet fuel bills to rise by more than 4 billion dollars this year.
The government has increased the fees for checked bags on domestic flights and short-haul international flight by $50 for the third bag and $10 for each of the first two bags. It also reduced certain benefits to economy passengers.
ASIANA AIRLINES
Newsis reported that the South Korean airline would cut 22 flights from April to July because of fuel price increases.
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 and try to minimize the impact.
CHINA - EASTERN AIRLINES
Air China said that it would increase fuel surcharges on domestic flights starting April 5. Flights of less than 800 km will be charged a surcharge of 60 yuan, and flights above 800 km will be charged a surcharge 120 yuan.
DELTA AIR LINES
Delta announced that it would reduce capacity by 3.5 percent from its original plan, and increase fees for checked baggage in order to offset the rising costs of jet fuel. The increase will be $10 for 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.
EASYJET
EasyJet has warned that it will suffer a larger half-year loss before tax of between 540 and 560 millions pounds ($732 and $759million), including an extra 25 million pounds of fuel costs in march.
FRONTIER Airlines According to The Wall Street Journal, a group of U.S. airlines including Frontier have pitched a $2.5 Billion relief plan to the U.S. Government. The report stated that the figure was based on the amount of jet fuel the group expected to spend this year in comparison to previous forecasts.
Fuel prices have increased dramatically since the carrier's forecast, and it has stated that it will be reviewing it.
GREATER BAY Airlines
The Hong Kong-based firm said that it will increase fuel surcharges for most routes on April 1, but keep them the same on routes to mainland China and Japan.
HONG KONG Airlines
The airline announced that it would increase fuel surcharges up to 35% starting March 12. The biggest increases would be on flights between Hong Kong, the Maldives and Bangladesh, and?Nepal where the charges would go from HK$284 to HK$384.
British Airways' owner IAG announced it would increase ticket prices in order to reflect the higher costs of jet fuel. Despite its fuel hedges it is "not immune" from the wider fallout caused by fuel price volatility.
INDIGO
India's largest airline announced that it will introduce fuel charges for domestic and international flights starting March 14. The charge for flights into the Middle East is 900 rupees and for flights into Europe, 2,300 rupees.
JETBLUE AERWAYS
Joanna Geraghty is the CEO of the low-cost airline based in the United States. She told her employees, via a memo, that she would not be considering bankruptcy this year despite the fact that rising jet fuel prices threaten the financial recovery. According to an SEC filing, the company has entered into a debt financing agreement worth $500 million.
Sources with knowledge on the subject have confirmed that KOREAN will be entering emergency management mode in April as oil prices continue to rise.
LUFTHANSA
The German airline group announced a new low-cost "Economy Basic", which limits free carry-on luggage to a "laptop or small backpack".
Previously, the group said that 20,000 short-haul flight would be removed from their schedule by October. This is equivalent to about 40 metric tons jet fuel.
PAKISTAN INTERNATIONAL AIRLINES
Fuel surcharges are cited as the reason for raising domestic flight prices by $20, and international flights by up to $100.
QANTAS AIRWAYS
Qantas, an Australian airline, said that it has delayed a planned A$150-million ($108-million) buyback. It also increased its fuel estimate for the second half 2026 from A$2.5 billion to A$3.1 billion or A$3.3 billion.
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 "couples of hundred" flights.
SPIRIT AIRLINES
Air Current reported that people familiar with the situation said the U.S. low cost carrier requested hundreds of millions in emergency funding from the Trump administration to offset the rising fuel prices and prevent a potential liquidation.
SPRING AIRLINES
Budget Chinese airline announced that it will increase fuel surcharges for domestic flights starting April 5. Details to be announced in due course.
SOUTHWEST Airlines The U.S. airline forecast its second-quarter profits below the market's expectations. Its CEO also warned that the price spike in jet fuel would be a "billion-dollar headwind" for the airline during the quarter.
The previous increase in the cost of checked bags was $10.
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 it would increase fares between 10% and 15% in order to combat rising fuel prices.
The European airline and tour operator reduced its full-year profit forecast and suspended revenue guidance. It said it had incurred extra costs of about 40 million euro due to the March war, including repatriation and operational disruptions.
TURKISH AIRLINES LUFTHANSA
SunExpress is a joint venture of Turkish Airlines and Lufthansa. It announced that it would charge a temporary fuel fee of 10 euros for each passenger on routes connecting Turkey with mainland Europe. 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 net profit for 2025, instead choosing to keep earnings and preserve cash.
T'WAY AIR
As part of the measures taken to combat the effects of war, the South Korean low-cost airline said that it would furlough cabin crew in May and/or June without pay.
UNITED AIRLINES
Scott Kirby, the CEO of the U.S. airline, said that ticket prices could rise up to 15%-20% to compensate for a spike in jet fuel costs. The company has already implemented five fares increases in the last quarter of this year, as well as higher baggage fees. This, it says, have helped offset the rising fuel prices.
The carrier forecasted second-quarter profits and full-year profit below Wall Street expectations. It said that it would recover only 40-50% through fares and revenue measures during the second quarter. This figure will improve to 70-80% in the third, and up to 85-100% in the fourth.
VIETJET
Due to possible fuel shortages, the Vietnamese budget airline has 'adjusted' flight frequencies on certain routes.
VIETNAM Airline
Vietnam's aviation authority announced that the carrier will cancel 23 flights per day on domestic routes starting in 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 expects an increase of jet fuel costs of between A$30 and A$40 million in the second half of the fiscal year. It also anticipates a 1% decrease in capacity for the fourth quarter.
VOLOTEA
The Spanish low cost airline has introduced a new pricing strategy that links ticket prices with fuel costs. This could add an additional surcharge after purchase of up to fourteen euros per passenger per flight.
WESTJET
Globe and Mail reports that the Canadian airline has reduced seat capacity in June. The Canadian Press reported previously that the airline would add C$60 ($44.50) to certain bookings, and combine flights due to rising costs.
(source: Reuters)