Latest News
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Ryanair's peak summer fares are flat, as Iran uncertainty affects bookings
Ryanair warned on Monday that economic uncertainty "looks like it will wipe out any growth" in fares during the summer peak months, as the Irish airline reported a profit slightly above expectations for 'the year to March. Last week, the largest airline in Europe by passenger numbers said that it did not expect any disruptions to the jet fuel supply in Europe during the summer months. However, its profit could be "a little under pressure" if oil prices continue to rise. It reported a profit after tax of 2,26 billion euros for the year that ended in march, compared to a forecast of 2,20 billion euros in an analyst poll. This did not include a special 85-million euro provision related to an Italian competition authority fine in December, which it has said it expects to be reversed on appeal. The airline stated that "pricing has been lowered in recent weeks due to the economic uncertainty brought on by the higher oil price, the fear of fuel shortages, and the potential impact of inflation on consumer spending." The statement stated that the pricing for the quarter of July to September, which was expected to show gains in the low single-digit percentage range, is now "trending broadly flat". It said that "with zero H2 visibility and significant fuel prices/potential supply volatility, it is far too early at this point to give any meaningful guidance for FY27 profits."
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Hapag-Lloyd and CMA CGM shippers suspend Cuba bookings following US executive order
Separately, CMA 'CGM and Hapag-Lloyd announced that they had suspended all bookings for travel to and from Cuba until further notice. Both cited an executive order of the United States issued on May 1. CMA CGM announced in an emailed press release that it had suspended its bookings from or to Cuba until further notice, following the U.S. executive order issued on May 1. The company said it would "closely monitor the situation" as well as adapt its operations to comply with applicable regulations. Hapag-Lloyd's spokesman confirmed that the German company was also suspending Cuban orders due to the compliance risks associated with President Obama's executive order from?May 1. A request for comment was not immediately responded to by the Cuban government. Two sources who have direct knowledge of the situation say that the temporary suspension of new orders from two of the largest shipping companies in the world could threaten as much as 60 percent of Cuba's volume of shipping. This would be a serious blow to a nation already on the verge of collapse amid a U.S. blockade of oil which has drained the island of its fuel. Sources said that the order would have the greatest impact on the shipping of goods out of China. The sources said that Northern Europe and the Mediterranean would also be severely affected, but all shipping to Cuba will be affected. The Trump executive order of May 1, expanded the existing U.S. trade sanctions against Cuba to include any foreigner operating in "the energy, defense, and related materiel, metals and mines, financial services, security, or other sectors of the Cuban economic system." Reporting by Gus Trompiz and Christoph Steitz; Writing by Mathieu Rosamain; Editing and review by Barbara Lewis and Chris Reese
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After a deadly train crash in Thailand, a driver is charged with the crime.
The Thai police has charged a driver with negligence following a crash that occurred?on Saturday, central Bangkok. A 'freight train' collided with a bus at a rail crossing. Eight people were killed and 32 injured. Urumporn Koondejsumrit is the head of the Makkasan Police Station. He said that evidence showed reckless behavior leading to deaths. He said that the bus driver would be charged as well, but was still undergoing medical treatment. He said that investigators are looking into whether additional charges could be filed. The freight train struck a bus on?Saturday? that was stopped at a red traffic light. It ignited a fire, which engulfed it and pulled several vehicles nearby along the tracks. In a press release, Siripong Angkasakulkiat, the Deputy Minister of Transport, said that authorities would tighten safety and oversight measures to prevent another incident. Commuters claimed that they had feared a collision for a long time, since vehicles continued to pass through the crossing despite stop'signals. It shouldn't have happened. "I want all drivers to know traffic laws correctly," said Thanphisit Nawatkonoangkoon (20), a train commuter. The World Health Organization has ranked Thailand's roads as among the deadliest in the world due to poor enforcement of safety regulations. Reporting by Orathai Shriring, Kitiphong Thaichareon, and Napat Wasshasartar. Editing by David Holmes.
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Comoros suspends fuel price hikes after deadly protests
By Abdou Moustoifa MORONI, 16 MAY - Comoros has announced the suspension of the new fuel prices that were introduced as a response to the Iran War. The reversal comes after the price hikes led to protests and deadly clashes in the East African Archipelago. An announcement was made after protesters and security forces clashed on Anjouan island, resulting in the death of one person and the injury of five others. "The Comorian people's cries were heard by the government and Azali Assoumani (Assoumani). Listening to them was the only solution. At a press conference, Energy Minister Aboubacar?Said Anli stated that the goal was to maintain peace. Azali said that he suspended the decrees relating to the fuel price increase, which he said were "introduced" on May 9 to allow for discussions on the matter. On?Friday, clashes broke out following a meeting held between the mayor of Mirontsy on the island of Anjoua and the association of fishermen who have been on strike against the rising fuel price since Wednesday. In Mutsamudu - the capital of Anjouan - roads were also blocked by stones. The circumstances surrounding the death of the victim, who occurred near Mpage, are now being investigated by a judicial investigation. The unrest was a result of a wider strike that began Monday, after the government increased 'diesel prices' by 46% and gasoline by 35%. It cited the global oil prices surge caused by 'the war in the Middle East. According to the National Human Rights Commission, 39 people were detained after transport workers and shopkeepers paralyzed public transportation in Moroni's capital. The head of the merchants union and the?president? of the transport workers?union announced that the strike ended on Saturday.
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Tunisians protest Saied's arrests over economic strain
On Saturday, hundreds of Tunisians demonstrated in the capital Tunis against President Kais Saied. They accused him of undermining freedoms and preside over an escalating 'economic & social crisis. The protest was under the slogan "People are hungry and jails are full". Demonstrators demanded an end to the one-man rule, and displayed banners that denounced?arrests made of journalists, politicians and civil society figures amid fears?of a wider crackdown on dissent. The protesters used the police and the judiciary to silence their critics. They also said that Saied had failed to address the economic crisis. Tunisia faces a'severe economic strain', with a sluggish economy, high prices, shortages in food and medicine, financial pressures and deteriorating services. Saied, the man who disbanded parliament and started ruling by decree in the year 2022, is facing mounting criticism from rights groups for what they claim to be the destruction of the post-2011 democratic system. Saied denies these accusations and says that his "measures" are necessary to save the country from chaos. The bar association is calling for strikes over the erosion of judicial autonomy in the coming days, and the journalists' union will protest against restrictions on press freedom as well as journalists being jailed. Authorities claim they enforce the law, and deny accusations of political repression. Reporting by Tarek Amara. Mark Potter edited the story.
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China claims that the Trump visit is a 'preliminary deal'
China's 'commerce ministry' described the tariff, aircraft and agricultural deals as "preliminary". This was in response to Donald Trump's visit this week. Trump left Beijing Friday, after two days of talks between President Xi Jinping and Trump that were filled with pageantry and warm words but with limited details on tangible outcomes in trade and investment. The ministry announced on its website that the two parties had agreed to create an investment board and?a trade panel to negotiate reciprocal tariff reductions on specific products, as well as larger cuts on unspecified goods, including agricultural products. Beijing also said that both sides will work together to resolve issues of non-tariff tariff barriers and market access. "FINALISED?AS SOON as possible" The ministry stated that the U.S. will "actively promote" the resolution of China's longstanding concerns about?the automatic removal of aquatic products from China, the export of bonsai plants in growing media to America, and the recognition of Shandong Province as a region free of avian flu. The Chinese side also pledged to actively resolve U.S. concerns about the registration of beef plants and poultry meat exports from certain U.S. States to China. The ministry didn't identify any companies, or give details about volumes, values or timelines. China released its first public statement on Saturday, describing the results of trade talks held this week in Beijing & Seoul. This comes amid concerns about what Trump's 'first state visit' to China has achieved. Trump said that China had?agreed' to buy 200 Boeing planes, but analysts questioned this lack of timeline. The Commerce Ministry confirmed "arrangements" on "Chinese aircraft purchases from the United States" and U.S. assurances regarding the'supply of aircraft parts and engines to China", but did not elaborate. The statement said that discussions were ongoing and the agreement would "finalised as quickly as possible". Reporting by Eduardo Baptista. Mark Potter (Editing by Mark Potter).
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In Thailand, a freight train collision with a bus has resulted in at least eight deaths and 32 injuries
Rescue officials and the deputy transport minister reported that at least eight people died and 32 others were injured after a train struck a bus in Bangkok and ignited a fire. Officials said that firefighters and rescue crews responded to the incident as fires consumed the bus and vehicles nearby near the Airport Rail Link station in Makkasan. They added that the crash involved motorcycles and cars. According to preliminary reports, the bus was stopped "on the tracks" at a red signal, which prevented the crossing barriers from closing. Deputy Transport Minister,?Siripong, Angkasakulkiat, told reporters that the preliminary reports indicated the bus had been parked?on the track?, and therefore, prevented the crossing barriers from being closed. He added that the train, which was carrying containers, could not stop in time to prevent colliding with?the bus. Eight people died and 32 were injured. The wounded are being treated at various hospitals. "All eight of the dead were on that bus," he stated. Social media videos showed the train dragging several vehicles and the bus along the tracks. The bus was stuck in a red-light situation, and so couldn't move. Wanthong Kokpho said that cars were also "blocked" and could not move forward. The fire broke out immediately. The damage would have been worse if this was a normal workday. Officials said that rescue teams pulled injured victims out of the wreckage while fire crews battled with water hoses. They said that the fire had been brought under control and that crews were cooling down the area and venting gas while continuing to search for survivors. Authorities are investigating what caused the incident. According to the World Health Organization (WHO), Thailand's roads are among the deadliest in the world due to a lack of enforcement of safety standards. Reporting by Orathai Shriring, Panarat Thepgumpanat, and Tananchai K. Keawsowattana. Editing by Louise Heavens & Joe Bavier
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One dead in Comoros as clashes erupt over rising fuel prices
By Abdou Moustoifa MORONI, 16 May - Five people were injured and one person killed in clashes between protesters on the comorian island of Anjouan and security forces, as unrest over fuel price increases spreads throughout the archipelago. The prosecutor stated in a Saturday statement that the Public Prosecutor's Office of Mutsamudu informed the public about a tragic incident which occurred in Anjouan in the Mpage region, and resulted in the death of a person, as well as five other injuries. After a meeting with the mayor of Mirontsy, and the 'fishermen association' which had been on strike since Wednesday in protest at rising fuel prices, there were clashes. In Mutsamudu (the capital of Anjouan), roads were blocked by stones. A judicial investigation was opened to determine what caused the death. The unrest is a result of a wider strike that began on Monday, after the government increased gasoline and diesel prices by 46% each. Citing the "Middle East" conflict as the reason for the increase. The strike by transport workers and shopkeepers has paralysed the public transportation system in Moroni. According to the National Human?Rights?Commission,?39 people were detained since the beginning of the strike. In an effort to reduce tensions, the government announced "cuts" to official travel and a reduction of 40% in customs fees. (Reporting and editing by Abdou Moostifa)
Ryanair does not expect a rise in summer peak fares but the risk of fuel shortages has receded
Ryanair warned on Monday that the U.S. and Israeli war against Iran would likely cause consumer anxiety, which could wipe out any increase in summer fares. However, the threat of fuel shortages has receded as suppliers adjust to the closing of the Strait of Hormuz.
Commentary came at the same time as Europe's biggest airline by passenger number reported a record-breaking profit for its fiscal year ending in March. This was slightly above analyst expectations.
Ryanair said last week that it does not expect any disruptions in jet fuel supplies for Europe this summer, but its profit may be "a little pressured" if oil costs remain high.
SUMMER TICKET PRICES 'TRENDING BROADLY FLAT'
Low-cost carrier said it had expected fares to increase by a low single-digit percentage during peak summer months. However, prices "are?now?trending broadly flat? in the July-to September period due to inflation fears and concerns from consumers about fuel shortages.
Ryanair stated that the visibility of fares was poor and that summer profitability would be heavily dependent on last-minute reservations.
Chief Financial Officer Neil Sorahan stated in an interview that the airline is "increasingly certain" there won't be any disruption in jet fuel supply even after summer, as suppliers increase their volumes and look for alternatives to Gulf Oil supplies.
In a video, Michael O'Leary, the Group Chief Executive of?O'Leary's group, said that?there will be no disruptions between now and mid July.
'RECORD TRADE, RECORD PROFITS.'
Ryanair announced a net profit after tax of 2,26 billion euros for the fiscal year, up from 1,61 billion euro a year ago. This is a significant increase over the 2.20 billion euro forecast by analysts in an 'internal poll.
This did not include a '85 million-euro special provision in relation to a fine imposed by the Italian Competition Authority in December, which?it expects will be reversed on appeal.
O'Leary stated, "We've had a record-breaking year with record traffic and record profits." "We are experiencing significant uncertainty at this time."
(source: Reuters)