Latest News
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India launches rescue operations after bulk carrier sinks near east coast
The Indian Coast Guard reported that India's maritime rescue agency had lost contact with a cargo vessel flying the Panamanian flag, which sank near the eastern coast of India. According to Commandant Amit?Uniyal?, a spokesperson for Coast Guard, the vessel was manned by 24 people, 20 of whom were Chinese, three Myanmarese and one Bangladeshi. Uniyal reported that the Coast Guard dispatched?two vessels from Sri Vijaya Puram (formerly known as Port Blair) for a search and rescue mission. The Coast Guard has rescued two people from life rafts. The agency reported that a search and rescue mission was underway for seafarers aboard the vessel. According to government sources the Ocean Winner was carrying ore from India to Singapore after leaving India's eastern Paradip Port on Thursday. They added that 240 nautical mile away, the ship sank. The cause of the sinking is unknown. Captain Alekha Charan Sahoo said that he hoped for the best and prayed for the safety of all the crew on board. Reporting by Nidhi verma, Saurabh sharma, Jatindra dash, and Disha mishra from Bengaluru. Editing by Sharon Singleton, Rod Nickel, and Rod Nickel.
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Two US tanker planes leave Bulgaria one month after their deployment infuriated Iran
Bulgaria's defence ministry announced on Saturday that two U.S. aircraft, tankers, had departed the Bezmer base in Bulgaria. This comes nearly a month after their deployment angered Iran. The United States has been at war against Iran since February 28 and requested that their temporary deployment be made under an agreement governing the?joint use of military installations. Sofia rejected the charge made by Iran that their deployment would be complicity in "aggression" and "war crimes". Defense Minister?Dimitar?Stoyanov informed reporters that two U.S. KC-135 aircraft left Bulgaria 'on Friday. It was not possible to reach the U.S. authorities for comment immediately. Residents in the area protested the deployment of the aircraft approved by Bulgarian parliament on July 22. They feared that the planes could be attacked by Iranian missiles and drones. Stoyanov stated that all of the aircraft's flights during their temporary deployment were training missions over other countries, and that Bulgaria had "no direct threats to our national safety." He said: "We work in full coordination with the U.S. Government?and have prior?information. This is why our decisions are well-founded." (Reporting and editing by Timothy Heritage, Aleksandar Vasovic)
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Seven people killed in UK when vehicle traveling the wrong way strikes police car
The local police said that seven people, including two police officers, died in a crash on Saturday in the?northeast of England after a vehicle driving 'the wrong way' down a major highway hit a marked police vehicle. The incident took place around 3:39 am (0239 GMT), near the South Bank area, east of Middlesbrough. All occupants of both vehicles died on the spot. Cleveland Police Chief Constable, Victoria Fuller said: "This tragic incident will be felt throughout Cleveland and our communities as well as the entire policing community." The police force said that it was still investigating and working to identify all of the victims. As is standard in these cases, the Independent Office for Police Conduct will review the incident. Ireland's chief of police warned this week that following two recent head on crashes near Dublin in which five people died, some young drivers were driving wrong way on the motorway "for social network likes". A?parliamentary committee in Ireland has asked TikTok how it removes "content that appears to glorify dangerous and illegal behavior?on our streets". Ireland's media regulator issued a similar demand on Tuesday. (Reporting and editing by Alexandra Hudson, Joe Bavier, and David Milliken)
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South Korea ships test Arctic commercial route amid Western concern
On Saturday, a South Korean container vessel set sail?for Europe via arctic in the nation's first commercial trip on the route. The?nation is testing its viability and hopes to turn the southeastern port of Busan into a maritime hub. The PanStar Acro is expected to sail north hugging the eastern Russia's Kamchatka Peninsula, crossing the Bering Sea and taking the Northern Sea Route. It will stop in Felixstowe, Britain, Rotterdam, the Netherlands, and Poland's Gdansk before returning in a trip that should take between 40 and 45 days. President Lee 'Jae Myung made Arctic shipping for South Korea a priority, making it a "shipping powerhouse". Officials claim that this could transform Busan, and make the Arctic a regular trading route by 2030. The project could cause friction with Western allies who want to?keep Russia isolated? during its war in Ukraine. Seoul has spoken to Moscow about the trip, including whether or not the ship needs help if it gets stuck in the ice. The Oceans Ministry of South Korea and the Foreign Ministry of Russia did not respond when asked for comments. According to Norway's Center?for High-North Logistics, last year?88 ships made 103 transits along the route. This is up from 97 vessels in 2024 and 42 in 2022. These vessels were primarily from countries such as Russia and China. Scientists say that melting Arctic ice makes it easier to travel through the north, and the increased shipping speeds up global warming. PanStar, a South Korean container ship operator, has secured 837 TEU cargo on the government-backed trip. This includes auto parts and chemical products as well as 100 empty containers. A government official stated that the PanStar?Acro will flag off at around 8 pm (1100 GMT), depending on loading and other preparations.
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Muslim group condemns Texas's request for federal investigation of airport wash facilities
Texas Governor Greg Abbott?on Friday requested a federal probe into airport facilities to determine if ritual washing was performed before islamic prayers. A Muslim advocacy group referred to this as an "anti-Muslim" political stunt. Abbott, in a letter sent to the Department of Justice urging it to review immediately the ablution stations at Dallas-Fort Worth International Airport (DFWIA) and George Bush Intercontinental Airport (GWIA), criticized them for being discriminatory. Abbott's office stated that because airports receive federal funding, they are required to adhere to a number of conditions. This includes complying with all applicable laws against discrimination. Before daily prayers, many Muslims wash their arms, legs and faces. The Texas chapter of the Council on American-Islamic Relations (an advocacy group) said that these?are not spaces for Muslims only, any more than nursing rooms or interfaith prayer rooms are 'Christian-only.' "These are accommodations that are open to all travelers, but are primarily used by the Muslim community." This is not discrimination. This is how accessible public infrastructure should look," CAIR Texas said in a press release. Abbott threatened to revoke funding for the state airports last week after referring them to Sean Duffy, U.S. Secretary of Transportation. Abbott stated that DFW has abandoned its plans to build more ablution stations as a result of this referral. The airport announced?this past week that it had determined the benefit originally expected may not be realized if more ablution stations are built. World Population Review reports that there are 4.5 million Muslims living in the United States, including more than 300,000. U.S. rights activists?say Islamophobia is on the rise since September 11, 2001 attacks in New York and Washington, D.C., and recently due to anti-immigration policy, white supremacy, and?the aftermath of Israel's Gaza war. Rights advocates have also documented a spike in anti Muslim messaging and rhetoric during U.S. campaigning, as Muslim American politicians rose to high office. Republican governors of Florida and Texas have branded CAIR as a terrorist organization. The group has opposed Republican President Donald Trump’s crackdown on immigration, and pro-Palestinian demonstrations. CAIR and civil rights groups denounced these claims, and claimed that Republicans were trying to incite fear towards Muslims.
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If the court approves, US Postal Service will issue rules to tighten up mail-in voting.
The U.S. The U.S. USPS stated that it was issuing the 95-page rule so it could be implemented for the next election if a judge lifted their injunctions. USPS will not deliver ballots to states that don't comply with the new rules. USPS final rule requires that states provide a list of voters who have received mailed ballots. The U.S. District Court Judge Indira Talwani of Boston has blocked USPS from adopting the rules that President Donald Trump ordered ahead of November's elections, which will determine control of Congressional seats. Trump, who is a Republican and a member of the Republican Party, signed the executive order on March 1, after calling for stricter voting rules by mail. He also claimed that the reason behind his defeat in the 2020 elections was widespread voter fraud. The order, which was published late Friday night, will be officially published on 26 August. However, USPS will not take any action to implement it unless the court lifts its injunction. USPS directed questions to the White House. If the rule is implemented, USPS won't collect or record party membership, nor will it inspect the ballot content. Postal workers will also not be authorized to open mail that has been sealed against inspection. USPS will keep data on the outside of the envelope including the address and barcode information. USPS Postmaster-General David Steiner defended this plan in June. He said that the Postal Service is making sure "we match what a state thinks they are sending to what gets sent." Democrats and many states have said that USPS has no authority to change the rules of elections. It is also too close to an election for any major changes. The new rule, announced on Friday, would require that states provide the USPS with the names and barcodes associated with their mail-in votes for federal elections. USPS stated earlier that it "will assist in determining adherence to federal laws and facilitate law enforcement." (Reporting and editing by William Mallard, Muralikumar Aantharaman and David Shepardson)
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Costs of transmission constraints on the largest US grid will reach $6 billion by 2026
The grid's independent monitor said that congestion costs for PJM, America's largest power grid, jumped 43% in the first half of the year to $6 billion as a result of escalating high-voltage transmission line overloads. According to Monitoring Analytics' independent market monitor, PJM, transmission bottlenecks during stressful events such as storms are the main cause of the rise in wholesale electricity prices. According to the report of the Market Monitor, price adjustments for transmission restrictions were $6 billion. This is up from $2.1 in the previous year. The report stated that the $3.9 billion increase in the cost of natural gas fuels was dwarfed by the $2 billion increase. Costs will eventually be reflected in monthly bills for consumers as the PJM'market' struggles to keep up with the booming demand of power from data centers and electric vehicles, heat pumps and heat pumping stations. According to the market monitor, PJM "often" assumes that transmission lines are less capable than they actually are and, as a?result, charges penalty fees incorrectly 94% of time. PJM disagreed with the analysis of the watchdog. PJM issued a statement saying that the (market monitor) was wrong to claim that PJM reduced transmission line ratings in order to trigger penalties. "PJM was unable to reproduce and/or verify the assertions made by the (market monitor)." PJM provides electricity to 67 million customers in a region that stretches between Washington,?D.C. and Chicago. PJM's wholesale real-time cost to meet electricity demand during the first half of this year was $29.4 Billion, compared with $20.4 Billion in the first half of 2025. During the first six months of 2026, the number of 'five-minute periods during which PJM high-voltage transmission lines of 500-kilovolts exceeded or hit operating limits jumped to 8,920 from just 1,865 the previous year. The violations occurred primarily during a winterstorm, according to the market monitor. According to PJM market data, other impacted?areas include metro Baltimore and Delaware. According to PJM data, other impacted 'areas' include the metro Baltimore area and Delaware. The report stated that the average real-time wholesale 'electricity cost across PJM increased to $72.54 per Megawatt Hour in the first half 2026 from $51.75 a megawatt hour a previous year, an increase by $20.79 per MWh.
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El Nino returns: What it means for global trade and the Panama Canal
El Nino, just two years after the most severe drought in the history of the Panama Canal forced ships to wait for weeks for passage, and triggered multimillion-dollar bidding wars for transit slots. Now El Nino threatens again the rainfall that feeds this waterway. El Nino is strengthening and reservoirs are shrinking. The industry is preparing for another disruption on one of the most important waterways in the world. Some?ships have already taken long detours through Africa. The Panama Canal Authority reversed its previous promise to limit 'passage' as it prepares for an El Nino that is longer than usual. 1. Where does the canal receive its water from? The Panama Canal, unlike the Suez Canal (in Egypt), relies on the use of fresh water for the operation of three sets a locks. This artificial waterway stretches 80 km (50 miles) between the Pacific Ocean and the Atlantic Ocean. Operation depends on two manmade reservoirs: Gatun and Alajuela Lakes. These lakes release millions of liters per transit, allowing ships to be raised and lowered through gravity-fed locks. 2. El Nino and the Panama Canal: Why is it important? The weakened winds can cause the reservoirs to dry up as a result of the warm water in the Pacific Ocean. Samuel Munoz is an associate professor at Northeastern University of Civil and Environmental Engineering. He said that, when reservoirs are low, the authority that controls the canal must reduce the number of ships that it allows to pass through in order to conserve water. This reduction "creates disruptions of the shipping system that ripple throughout the global economy." 3. Why are these water resources vulnerable? The Smithsonian Tropical Research Institute's monitoring system in Panama has been recording some of the highest air temperatures ever since May. May, June, and July all posted record or near-record average monthly temperatures. Steven Paton, the monitor who runs the network, said that rainfall in Panama during this period was below average. He added that some stations report record lows or values near records, especially around the canal. 4. What is the Panama Canal Authority doing? Starting September 4, the Panama Canal Authority will cap daily?transit slots at 34 vessels and reduce that number to 32 by September 15. El Nino is expected to continue, and water levels are predicted to fall further. This could force the authority to tighten up again. The measures are similar to those taken in 2023-24, when drought reduced daily transits down to 22 ships according to official statistics. For the fiscal year 2026 (October to September), the canal recorded an average of 35 to 34 daily transits. 5. What impact does this have on shipping? Panama Canal Authority acknowledged, without providing further details, that some ships that transited the canal recently "paid amounts exceeding one million dollar at auction to meet specific market needs." 6. What are the alternatives? Rohit Rathod is a senior analyst for Vortexa and a senior oil industry analyst. He said that many shippers take the long route around Africa because they don't have long-term slots packages or large auction budgets. He said that so far, in August, about half of the gas carriers headed to Asia chose the Cape of Good Hope instead of the Panama Canal. This is the highest percentage for the past decade. A large gas tanker traveling from Houston to Japan would take about 26 days to pass through the Panama Canal, but it would take 45 days just to go around Cape of Good Hope. 7. What are the long-term options being considered? Panama is considering a longer-term solution: a reservoir at Rio Indio. The Panama Canal Authority claims that this would provide water to more than half of the population and ensure the operation of the canal for the next fifty years. It would also improve conditions for nearby communities. Environmental activists have been instrumental in blocking First Quantum Mining's contract. Some argue that the reservoir is unnecessary and suggest alternatives, such as Lake?Bayano. 8. What is the difference between this El Nino and previous ones? The Climate Prediction Center of the U.S. National Oceanic and Atmospheric Administration issued a forecast last week that El Nino was strengthening. It said there is a greater 90% chance of an "extremely strong" event in the Northern Hemisphere during the fall and winter of 2026-2027. Clarksons Securities stated in a recent research note that "El Nino has now emerged as a major risk" to a sector already struggling with capacity constraints and geopolitical conflicts in the Middle East. (Reporting from Stefanie Eschenbacher, Mexico City; Elida Moreno, Panama City; editing by Emily Green and Sanjeev miglani).
Price hikes and outlook cuts are used by airlines to combat the fuel price surge.
The aviation industry was blindsided by the sudden increase in jet fuel costs from $85 to $100 to $150 to $200 per barrel during the U.S./Israeli war on Iran. Fuel accounts for as much as a quarter or more of the operating costs, which has forced airlines to increase fares and review their financial forecasts.
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 "notable impacts" on its results for the first quarter.
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 CANADA
The volatility in jet fuel prices has caused the largest Canadian carrier to suspend its full-year forecast.
Fuel prices have increased and the company has announced that it will reduce four of its 38 daily flights from New York.
AIR CHINA, CHINA SOUTHERN AIRLINES, CHINA EASTERN AIRLINES
China's "big three" airlines have reduced surcharges for domestic flights to 60 yuan (9 dollars) for flights less than 800 kilometers and 120 yuan (120 dollars) for those more than 800 kilometers, from respectively 10 and 20 yuan.
AIR FRANCE-KLM
The airline group has said that it expects a $2.4billion increase in fuel costs this year. It also downgraded the outlook for capacity to a 2%-4% increase from 2025. It had previously predicted a 3%-5% increase.
Cabin fares will increase by up to 59 euros (50 euros) for round-trip flights. The group announced previously that it would be increasing long-haul ticket costs to combat rising fuel prices.
KLM, the Dutch arm of the?group, announced?on 16 April that it would cancel 160 flights across Europe in a month's time due to increasing fuel prices.
AIR INDIA
Between June and August, the Indian carrier will temporarily reduce flights on several international destinations.
Bloomberg News reported that the company was considering furloughing employees who were not technical and reducing flight capacity more than 20% over the next three month.
The company said that it will also revise the fuel surcharge, moving from a flat surcharge for domestic travel to a grid based on distance. The company 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 began. 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 imposing a fuel surcharge on both domestic and international flights ranging from 199 to 1,300 Indian Rupees ($2 - $14).
ALASKA AIR
Fuel prices are rising sharply, putting pressure on airline margins.
The carrier had previously withdrawn its profit forecast for the full year and warned that earnings would be severely affected in the second quarter. The carrier has also reduced capacity in certain markets.
AMERICAN AIRLINES
The U.S. airline slashed their 2026 profit projection, pushing it to the lower end, a loss. They also said that they expected to see an increase in jet fuel costs of more than $4 billion for this year.
The government has increased the fees for checked bags on domestic flights and short-haul flights by $50 for the third bag and $10 for each of the first two bags. It also reduced certain benefits to economy passengers.
It said that higher fuel costs would increase its costs by approximately 140 billion yen (890 million dollars) this year. However, it is expected that hedging and cost reductions will limit the impact of the increased fuel prices to about 60 billion yen. It has said that it will consider introducing a domestic surcharge for fuel in the fiscal year starting April 2027.
ASIANA AIRLINES
Newsis reported that the South Korean airline would cut 22 flights from April to July because of fuel price increases.
CATHAY PACIFIC
Hong Kong Airlines will reduce fuel surcharges on most flights starting May 16 as part of its "agile" response to the volatile jet fuel price.
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.
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 increase will be $10 on first and third checked bags and $50 on second and fourth checked 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 (729 and 756 million dollars), including an extra 25 million pounds of fuel costs in march.
FRONTIER AERLINES The Wall Street Journal reported that a group of U.S. low-cost airlines, including Frontier, has proposed a $2.5 billion relief package to the U.S. Government. The report stated that the figure was based on the amount of jet fuel the group is expecting to spend this year in comparison to previous forecasts.
Fuel prices have risen significantly since the carrier's forecast, and it has stated that it will be reviewing it.
GREATER BAY Airlines
The Hong Kong-based airline 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% on flights between Hong Kong, the Maldives and Bangladesh, and Nepal. Charges would go from HK$284 to HK$384 for these flights.
British Airways' owner IAG has warned that the annual profit will be lower than expected, due to rising jet fuel prices and supply disruptions.
It had previously announced that it would increase ticket prices in order to reflect the higher costs of jet fuel. Despite its fuel hedges it was still "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
JetBlue announced that it would reduce hiring, cut capacity, and raise fares in order to mitigate the impact of the rising jet fuel prices. CEO Joanna Geraghty stated on a earnings call that the airline had suspended its outlook for the full year.
Sources with knowledge on the subject have confirmed that KOREAN will be entering emergency management mode in April as oil prices continue to rise.
LATAM AIRLINES
The Chilean carrier has cut its core earnings forecast for 2026 after rising jet fuel costs pushed up costs.
LUFTHANSA
The German airline group has said that it will be hit by jet fuel prices of 1.7 billion euros in 2026.
Its subsidiary ITA Airways announced that it would increase ticket prices by between 5% to 10% in 2026, in order to compensate for rising fuel costs.
The group announced in April a new low-cost "Economy Basic", which limits free carry-on luggage to a "laptop or small backpack".
The group had previously announced that 20,000 short-haul flight would be removed from their schedule by October, which is equivalent to approximately 40,000 metric tonnes of jet fuel.
PAKISTAN INTERNATIONAL FLIGHTS
The airline said that it would increase domestic flight fares up to $20, and international flights by up $100. It cited higher fuel surcharges as the reason for this.
QANTAS AIRWAYS
Qantas, an Australian airline, said that it has delayed a planned A$150-million ($109-million) buyback. It also increased its fuel estimate for the second half 2026 from A$2.5-billion to A$3.1-3.33 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 "couple hundred" of flights.
SPIRIT AIRLINES
The U.S. Low-Cost Carrier shut down abruptly, after collapsing due to financial pressures. This included the sharp increase in fuel prices caused by the Iran War.
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 SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWAST AIRLINES
The U.S. airline forecast a second-quarter loss below the market's expectations, and its CEO warned that the spike in jet fuel would cost the airline billions of dollars 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 AIRASIA
Thai low-cost airline said that it would reduce its overall seat capacity between May and July by 30% on average to offset the impact of rising aviation fuel costs and a softening of demand.
THAI AIRWAYS
The Thailand-based airline said that it would increase fares between 10% and 15% in order to combat rising fuel prices.
The European airline, tour operator and travel agency cut their full-year profit forecast and suspended revenue guidance. They said they had incurred extra costs of about 40 million euro due to the March war, including repatriation and operational disruptions.
TURKISH AIRLINES LUFTHANSA
SunExpress, the joint venture between Turkish Airlines, Lufthansa and Lufthansa 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 on or 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 the earnings and preserve cash.
T'WAY AIR
As part of measures taken to combat the effects of war, the South Korean low cost carrier announced that it would furlough cabin crew in May and/or June without pay.
UNITED AIRLINES
The CEO of the?U.S. Scott Kirby, the airline's CEO, said that ticket prices could rise up to 15%-20% to offset an increase in jet fuel costs. The company has already implemented five fare hikes late in the first-quarter, along with increased baggage fees that it says have begun to offset rising fuel prices.
The carrier forecasted second-quarter profits and profits for the full year below Wall Street expectations. It said that it would recover only 40-50% through fares and revenue measures during the second quarter. This figure was expected to improve to 70-80% by the third quarter and up to 85-100% in the fourth.
VIETJET
Due to possible fuel shortages, the?Vietnamese low-cost airline has adjusted flight frequencies on certain routes.
VIETNAM Airline
Vietnam's Aviation Authority announced that the carrier will cancel 23 flights per week on domestic routes starting in April after it requested assistance from the government to remove a tax on jet fuel.
VIRGIN ATLANTIC
Corneel K. Koster, CEO of the Financial Times, said that although fuel surcharges will be added to fares this year, the airline still faces a struggle to become profitable.
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.
WIZZ AIR
Low-cost carrier reassessed its forecast upwards citing strong bookings in advance and quick action to offset rising fuel prices and flight cancelations by adding capacity on new and existing routes and using promotional rates. The airline had warned of a possible profit drop at the beginning of the Middle East war.
(source: Reuters)