Latest News
-
AirAsia and Airbus to announce 150-jet A220 order on Wednesday, according to sources
Airbus will announce a new order for 150 A220 jets on Wednesday. This is a major boost for the planemaker's small jetliner, which has lost recent orders to Brazil-based Embraer. Quebec holds a minor stake in the A220 Program, which is produced in Mirabel to the north of Montreal and on a separate assembly in Mobile, Alabama. Mirabel is where A220 planes are manufactured for non-U.S. clients. Sources said that Mark Carney, Canadian Prime Minister will attend the announcement. The matter is confidential. Airbus Canada and Carney's spokesperson declined to comment about the order or the event, which may change or be postponed. AirAsia, based in Malaysia, could not be reached immediately outside of normal business hours. La Presse, a French-language publication, reported on the news of AirAsia's major A220 purchase on Tuesday. Bloomberg also broke the story on Monday. In February, Bloomberg reported that AirAsia was expecting a large order for the 110 to 130-seat A220. The report cited sources who claimed that 150 firm orders could be included in this deal. AIRBUS INTENDS TO BREAK EVEN WITH A220 This is good news for A220. Its rival, Embraer E2, won a Finnair campaign in March and outsold Airbus A220 by three to one last year. Airbus wants to increase A220 production in order to break even on the program that it took from Canadian planemaker Bombardier for free. Airbus, the world's biggest planemaker, has announced that it will only assemble 12 A220 aircraft per month in 2026. This is down from its previous goal of 14. The company blames supply issues and the fact that airlines are still waiting for upgraded engines. Canada's aerospace industry has suffered less damage than other sectors such as the auto industry, from a trade conflict with its largest partner, the United States. Washington exempts imports of aerospace from tariffs. AirAsia led the boom of low-cost carriers across?the region over the last two decades, as incomes rose. AirAsia is one of European planemaker's largest customers, with over 350 larger A320-family aircraft already ordered. Tony Fernandes, AirAsia's co-founder, had told the airline that it was prepared to expand its fleet to include smaller aircraft to serve new destinations. The airlines have cut back flights due to turbulence caused by high jet fuel costs as a result of the U.S./Israeli war against Iran.
-
What is the hantavirus which killed three passengers on a cruise ship?
A hantavirus outbreak on a luxury cruise ship has killed three people and confirmed four more cases. What is the hantavirus and how does its spread affect global?health? What is it? Hantaviruses can cause illness and infection in humans. The World Health Organization estimates that there are between 10,000 and 100,000 cases of human infection worldwide each year. How is the virus spread? Hantavirus is spread primarily by rodents. People can be infected through contact with mice or rats, their urine or droppings or even saliva. It can also spread through contaminated surfaces. The Andes strain, which is mainly found in Argentina and Chile (and other parts of South America), is the only variant known to spread via close, prolonged human-to-human contacts. The WHO has said that this strain may be responsible for the infections aboard the cruise ships, but this hasn't been?confirmed. What are the symptoms of infection? Hantaviruses are found in many parts of the globe and cause different symptoms. Some cause no symptoms at all. According to WHO, symptoms usually begin between one and eight weeks after exposure. They may include fever, muscle pains, and gastrointestinal problems. Hantaviruses are known to cause haemorrhagic syndrome with renal syndrome in?European and Asian countries. This disease primarily affects blood vessels and kidneys. In America, hantavirus can cause cardiopulmonary syndrome. This condition progresses rapidly and causes fluid to accumulate in the lungs, along with other heart problems. The WHO reports that the death rate from hantavirus is up to 50%. This compares to the 1-15% of infections in Asia and Europe. Can HANTAVIRUS infection be treated? As there is no specific treatment, the current approach focuses on supportive measures, such as rest and fluids. Some patients may require breathing support, such as a respirator. The prevention of rodents is based on measures such as keeping surfaces and areas clean. Contact tracing during outbreaks can improve outcomes, and prevent further spread, by allowing others who may have been exposed to the virus to receive hospital care earlier. What are the risks to the general public? WHO states that the outbreak on cruise ships is unusual. It's being investigated by experts from several countries and the WHO, but there's a low risk for the public. WHO's Americas branch warned in December that hantavirus infections are on the rise, especially in Bolivia and Paraguay. Brazil and Argentina, which have the most cases, are also seeing an increase in lethality. Argentina reported 21 deaths in the last year. This is a 32% mortality rate among 66 people who contracted hantavirus respiratory syndrome. The average death rate over the previous four years was 15%.
-
ITA Airways will raise ticket prices but not reduce flights due to fuel costs
ITA Airways does not plan to reduce flights 'because of rising jet-fuel prices,' its chief executive stated on Tuesday. He added that?the group is 80% covered in fuel for the remainder of the year. Joerg Erberhart, CEO of the Italian airline, which is controlled by Lufthansa said that the company was looking to raise ticket prices by between 5% to 10% this year to compensate for fuel cost increases resulting from the U.S./Israeli war against Iran. As the Middle East conflict drives up jet fuel prices and disrupts major routes, airlines in Asia and Europe are raising fares, adding fuel surcharges, and adjusting schedules. Fuel is now twice as expensive as it was before the crisis. Jet fuel is responsible for 30% of all our costs. Eberhart said to reporters in Rome that without hedging, we would need to increase our prices by 30%. This would be very difficult. He said that the company is also "looking at increasing fuel-efficiency through technical measures", expanding its destination networks and long-haul route and tapping into opportunities in a buoyant Asian Market while the Middle East faces major disruptions. As part of ITA's current strategy, the company is also aiming at reducing the average age in its fleet by replacing older jets with newer ones to reduce fuel consumption. CONSOLIDATION PLANS Eberhart responded that it was up to Lufthansa to decide when they would increase their stake from 80% to 90%. The German airline holds 41% in ITA. The remainder is owned by the Italian Economy Ministry. According to an initial agreement with Rome, Lufthansa can do this until June 2026. Eberhart stated that ITA was optimistic that Lufthansa will proceed with increasing its stake, as this would allow it to gain from a?closer integrated with the German parent company. "ITA will become the specialist in South American destinations once it is consolidated," he said. "It already serves more routes in that region than the entire Lufthansa Group combined." Eberhart stated that the group did not see the need to revise its long-term or this year's strategy, even though it would take at least six months to "normalise" oil flows after the end of war. The executive said that the majority of additional costs (resulting from jet fuel) could be compensated by higher air fares and hedging. He said that a decision has not yet been taken regarding flights to 'Tel Aviv, Riyadh, and Dubai – all of which have been cancelled until the end the month – and that ITA will suffer a loss of approximately 10 million euros ($11.70 millions) if the three destinations remain closed for the whole year.
-
India approves a $1.9 billion credit to help businesses affected by the Middle East crisis
The Indian cabinet approved on Tuesday a new emergency credit assurance programme valued at 181 billion rupees (US$1.9 billion). It is designed to help businesses, especially small ones, who are experiencing short-term liquidity stress due to the Middle East crisis. A government statement stated that the Emergency Credit Line Guarantee Scheme 5.0 (ECLGS 5.0) will provide additional support to eligible borrowers. The government offers 100% coverage for small and mid-sized enterprises, and 90% for other firms, including the airline sector. National Credit Guarantee Trust Company Ltd. will provide the guarantees. Textile and glass manufacturers have been affected by the Middle East war between Israel and the United States. India, the third-largest importer of oil in the world, faces the risk of inflation and slower economic growth. The scheme will cover any additional loans extended by member institutions to borrowers who have standard accounts, existing working capital limits, or outstanding credit facilities on March 31, 2026. Borrowers can borrow up to 20% (capped at 1 billion rupees) of the peak working capital they used during the quarter January-March of fiscal 2026. Scheduled passenger airline can borrow up 100% of their outstanding credit facilities. Business loans will be for five years with an additional year of moratorium. Airline loans will last seven years and have a two-year period of moratorium. The statement stated that the scheme will target a total additional credit flow (including?5 billion for airlines) of 255 billion rupees and apply to all loans sanctioned until March 31, 2027. The government stated that the measure is intended to help businesses maintain their?operations?, protect jobs?and sustain supply chains during the conflict-related interruptions.
-
Expeditors' profit tops estimates on strong air freight, customs services demand
The shares of logistics firm Expeditors international of Washington rose 6.3% on Tuesday after it posted a higher-than-expected quarter profit. This was due to increased air freight volumes and strong demand for its customs brokerage services. Expeditors, for example, benefited from the fact that U.S. importers used freight and customs brokers to help them navigate President Donald Trump’s evolving trade policies. The company's brokerage services revenue jumped by 17%, to $1.15billion in the first quarter. The company's largest segment, customs brokerage, contributed 41% of its overall revenue. But CEO Daniel Wall stated that the company anticipates "the freight climate to remain highly unpredictable, as global events, macroeconomic concerns, and our customers, and?our industry, weigh on us." LSEG data shows that Expeditors posted a profit of $1.71 a share for the quarter, which was higher than analysts'?average estimate? of $1.33 - Air freight revenue increased by 14% thanks to higher rates and an increase in demand from customers who use technology. Ocean freight revenue fell by 23% due to lower prices and volume, especially in Asia. The company's total?revenue increased by 4.4%, to $2.78 Billion. This was higher than analysts' expectations. (Reporting by Nandan Mandayam in Bengaluru; Editing by Shilpi Majumdar)
-
CEO of ITA Airways says that despite rising jet fuel costs, ITA Airways won't cut flight schedules.
The group's chief executive stated that ITA -Airways does not plan to reduce flights due to a rise in jet fuel prices. He added that 80% of the group's fuel requirements are covered for the remainder of the year. Joerg Eberhart, CEO of the Lufthansa group, said that the Italian airline, which is owned by Lufthansa, will increase ticket prices between 5% to 10% this year in order to offset the rise in fuel costs caused by the U.S. and Israeli 'war on Iran. Fuel is now twice as expensive as it was before the crisis. Jet fuel is responsible for 30% of all our costs. Eberhart, who spoke to reporters in Rome, said that without hedging we would have to raise prices by 30%. This would be "difficult". He also?added that the company is looking to increase fuel efficiency by?technical means. The carrier's?current strategy also includes a goal to reduce?the age of its fleet. More modern jets are key to improving fuel efficiency.
-
Sources say that Russia's vast Kirishi refinery has halted processing after a drone attack.
?Russia's vast Kirishinefteorgsintez (Kirishi) oil ?refinery halted processing on Tuesday following Ukrainian ?drone attacks ?which damaged ?the ?plant's units and caused a fire, two industry sources said. Surgutneftegaz which controls the refinery did not respond immediately to a comment request. Sources who requested anonymity because of the sensitive nature of the situation said that three of four crude distillation unit (CDU) at the refinery had been damaged by the drone attack. Sources said that it is difficult to estimate the time needed for the repairs of damaged units. They added that secondary units also suffered damage. Alexander Drozdenko, the region governor of Leningrad, said early on Tuesday that there had been an fire in the industrial zone at?Kirishi. Kirishi refinery suffered several drone attacks this year. The most serious one occurred in May. The refinery has a capacity of?around 400,000 barrels a day, or?20 million metric tons. In recent years, it has been processing?around 18 millions tons per year?representing around 7% of Russia's total oil refining volume. Guy Faulconbridge, Guy Faulconbridge (Reporting)
-
What we know of the passengers on cruise ships affected by Hantavirus
According to the World Health Organization, seven passengers aboard a cruise ship sailing in the Atlantic Ocean, including three people who died, have either been 'confirmed' or'suspected' of having hantavirus. Based on the information provided by WHO and national authorities, here are some facts about passengers: A 70-year old man from the Netherlands was the first to die aboard the ship. On April 6, he developed mild diarrhoea, a headache and fever. He died on April 11, after suffering respiratory distress. On April 24, his body was removed from the vessel in Saint Helena. The wife, aged 69, of the first victim was killed. She was ill on the ship and disembarked in Saint Helena. She was supposed to fly to the Netherlands from Johannesburg, South Africa on April 25, but she collapsed in the airport and died on April 26. Thirdly, a British passenger fell ill after the ship left Saint Helena. He was treated at Ascension Island and then medically evacuated from there to South Africa on the 27th of April. He is still hospitalised in Johannesburg and is in isolation at an intensive care unit. Fourth case: a German woman died on the ship, May 2, five days after she developed symptoms. Three other suspected cases are still on the ship, which is docked near the coast of Cape Verde. They have been reporting a fever or gastrointestinal symptoms. WHO reports that medical teams are in Cape Verde evaluating patients and collecting samples for testing. (Reporting and editing by Nellie Pettit; Alison Williams).
Spirit Airlines lawyer: High jet fuel prices forced carrier to close due to lack of alternatives.
Lawyer for the defunct Spirit Airlines said that on Tuesday, sharply higher jet-fuel prices forced the budget carrier to shut down. The lawyer is seeking approval for a plan to expedite asset sales and to pay retention bonuses to employees. Marshall Huebner said that at a U.S. Bankruptcy Court Hearing, the airline had learned Thursday afternoon that government financing would not be going forward. He apologized on behalf of the carrier to its customers and the American people. Last month, the Trump administration proposed a $500-million bailout to help Spirit out of bankruptcy. However, some creditors objected.
Huebner stated that Huebner, after learning on Thursday that government funding initiative would not be taking place, transported 50,000 passengers to the airport on Friday in order to 'wind down operations' before making the news public.
Since the U.S. and Israeli strikes on Iran, which disrupted the Strait of Hormuz traffic, global carriers have been dealing with rising jet fuel prices. This is the worst crisis for the airline industry since the COVID-19 epidemic. Spirit Airlines was already struggling to make a profit prior to the fuel shock, and now faces $100 million in additional fuel costs.
He said that fuel costs would be high for the remainder of the year, costing the airline hundreds of millions of dollars.
Spirit seeks?court approval for $10.7 million retention bonuses, which will be paid to employees who stay on as the company closes its doors. This amounts to $76,000 per employee. The top three executives will also receive a larger bonus but the amount has not been disclosed.
The U.S. The U.S.
Spirit claims it lacks the?money? to hold an organized auction of its aircraft, engines, and other equipment and asks for court permission to sell them quickly or abandon them.
Let the lender repossess. Mark Porter, Doyinsola Oladipo, and David Shepardson edited the report.
(source: Reuters)