Business Post reports that Ryanair CEO O'Leary believes fares will remain 'flat' this summer.

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• European shares fall as markets ponder hawkish US Federal Reserve

  Investors increased their bets that the U.S. Federal Reserve rate increase later this year?after policymakers struck a more hawkish tone. The pan-European STOXX 600 closed 0.3% lower and ended a five-day streak of gains. The regional bourses showed mixed results, with France, Germany and Italy posting gains and Spain and Italy declining. The FTSE 100 in Britain ended the day 1% down as heavyweight healthcare and energy stocks weighed. In June, the Bank of England held interest rates at 3.75% because it deemed it premature to increase rates due to uncertainty regarding 'inflation pressures. Oil and gas shares in Europe fell 1.5%, as oil prices dropped to their lowest levels since the first day of trading during the Iran War. U.S. president Donald Trump signed an agreement with Iran to end a war that has disrupted the global energy supply. The interim ?pact has brought relief for markets, with energy-price-sensitive travel and leisure shares rising 0.8% on Thursday. But despite the relief, it was short-lived due to monetary policy uncertainties. NEW FED CHAIRMAN The Fed in the U.S. held rates at the same level on Wednesday but nine policymakers predicted a rate increase this year. The Fed's statement on Wednesday removed any guidance regarding future rate movements, a sign of the influence of the new Fed chairman Kevin Warsh. "Transitions such as this are unsettling to markets." Steven Blitz is the chief U.S. economic at GlobalData.TS Lombard. He said that political and economic volatility will?confront and confound Warsh's plan to get the Fed in his promised land. According to LSEG data, the European Central Bank increased borrowing costs last week. Traders expect another 25 basis-point rate increase by year's end. Mining shares fell 3.1%, and were the largest decliners in the STOXX major subsectors. Commodities suffered from a stronger dollar. Mercedes-Benz, Volkswagen, and Stellantis were all at the bottom of the list. BMW fell 4%, after falling 8.3% in the previous session following a shocking profit warning. Accenture's cut in its full-year guidance caused a sharp drop among European IT service firms. Capgemini fell 8.9%, a six-year low, while Cancom, Atos, and Reply all saw declines between 2% to 6.9%. Edenred rose 17.2% after the French voucher company confirmed that it was approached by investment funds following media reports about possible takeover interests from investment firm BC Partners.

• There are some flights to the Middle East that have resumed but there is still disruption.

  Several airlines have resumed flights to certain parts of the Middle East, as diplomatic efforts intensify to resolve the conflict that erupted after U.S. and Israeli airstrikes against Iran. However, many other carriers continue to suspend flights, causing global travel disruptions. The following is an alphabetical update of the flight status for airlines: AEGEAN AIRLINES The largest airline in Greece has cancelled flights between Thessaloniki and Tel Aviv until the 26th of June. Flights from?Dubai to Erbil,?Baghdad and?Baghdad are all cancelled until September 30. AIRBALTIC AirBaltic, a Latvian airline, has cancelled all flights to Tel Aviv and Dubai until the 28th of June. AIR CANADA Canadian Airlines has cancelled all flights to Tel Aviv, Dubai and Abu Dhabi until October 24. AIR EUROPA Spanish Airlines has cancelled all flights to Tel Aviv up until the 28th of June. Air France-KLM Air France suspended flights to Tel Aviv until June 23, Beirut until 24 June and Dubai until 30 June. KLM has suspended flights from Riyadh to Dammam, Dubai and Dammam until August 9. CATHAY PACIFIC Hong Kong Airlines has suspended flights to Dubai and Riyadh through August 31. The U.S. carrier suspended service for the Atlanta-Tel Aviv routes through December 18, 2018. The airline plans to resume New York JFK-Tel?Aviv service on September 6. However, the launch date of Boston-Tel?Aviv, originally planned for October, has now been pushed back until further notice. FINNAIR Finnair has cancelled all Doha flights until October 2 and continues to avoid airspace in Iraq, Iran Syria, and Israel. The airline will resume Dubai flights in October, which are only operated during the winter. British Airways, owned by IAG, delayed the resume of its flights to Doha and Riyadh to August 8th. Flights from Amman, Bahrain, Amman, Tel Aviv and Dubai will be paused for the remainder of the summer and resumed on October 25. When the flights resume, it plans to reduce service to Dubai, Doha and Riyadh to just one flight per day, and drop Jeddah from its list of destinations. JAPAN AIRLINES Japan Airlines has suspended its scheduled Tokyo-Doha and Doha-Tokyo flight until August 31, and Doha-Tokyo until September 1. Polish Airlines has cancelled all flights to Riyadh and Beirut until 30 June. LOT will begin operating its winter route from Dubai in October. LUFTHANSA GROUP Lufthansa has announced that it will resume Tel Aviv flights as soon as July 1. ITA Airways also confirmed they would resume the flights from July?1. SWISS delayed the return of flights to Tel Aviv until August, while Brussels Airlines suspended its operations until October 24. The suspension of Dubai flights by Lufthansa SWISS and ITA Airways continues until September 13th. Lufthansa has suspended all flights to Abu Dhabi until October 24, as have SWISS, Austrian Airlines, Brussels Airlines, Beirut Airlines, Dammam Airlines, Riyadh Airlines, Erbil Airlines, Muscat Airlines, and Tehran Airlines. Eurowings, a low-cost carrier, has suspended flights from Tel Aviv to Beirut and Erbil until July 9; to Dubai, Abu Dhabi, and Amman until Oct 24. ITA Airways also extended its suspension of flights to Riyadh through July 31. MALAYSIA AIRLINES From July 2, the Malaysian airline will resume limited service to Doha. NORWEGIAN AIR Low-cost carrier has delayed the launch of Tel Aviv and Beirut indefinitely and no new start dates have been determined. ROYAL MAROC Moroccan airline announced that flights to Doha have been cancelled until 30 June. SINGAPORE Airlines The carrier has extended the suspension of its Singapore-Dubai flights until August 2. It also added services to Singapore-London Gatwick, and Singapore-Melbourne from late March until 24 October in order to "meet increased demand". TURKISH AIRLINES SunExpress, Turkish Airlines joint venture with Lufthansa has cancelled flights to Dubai, Bahrain, Beirut, and Erbil, until July 14. WIZZ AIR Low-cost airlines have suspended flights from Europe to Dubai, Abu Dhabi and Amman until mid-September. (Compiled by Josephine Mason and Jamie Freed. Elviira Lioma, Tiago Branao, Agnieszka Olesska, Bernadette HOG, Alexander Klyve Gudbrandsen, Romolo TOSIANI, Boleslaw LaSocki). Matt Scuffham and Alexander Smith edited by Susan Fenton, Milla Nissi-Prussak Jonathan Ananda Joe Bavier, Louise Heavens, Louise Heavens, Louise Heavens, Louise Heavens, Louise Heavens, Louise Heavens, Louise Heaven, Bernadette Hogg, Romolo Tosiani.

• Minister: Germany deploys ships in the Red Sea to possible Hormuz missions

  Boris Pistorius said that Germany is deploying two ships in the Red Sea to prepare for a possible military mission in Strait of Hormuz. After U.S. president Donald Trump signed an agreement with Iran that ended a war which has disrupted the global energy supply, officials from the shipping and insurance industries called for the immediate deployment of mine-clearing ships to the Strait. As we speak, the?minesweeper Fulda is sailing through the Suez Canal to the Red Sea," Pistorius said as he arrived in Brussels for a meeting of his NATO counterparts. Pistorius did not specify a timeline, but said that Iran and Oman would need to approve any minesweeping mission before it could be undertaken. He added that the success of any such mission would depend on the progress made in the talks between Iran and America. Shipping and maritime security experts have said that clearing the strait of'mines' could delay the return to normal shipping by several weeks. Germany will also send underwater drones, divers, and teams to protect vessels. France and Britain are pushing for a multi-nation naval mission. Diplomats report that Iran is strongly opposed to foreign military presence on the waterway. It could also seek to impose transit charges on shipping, a red line for European powers. Athens has said it is ready to provide assets to help de-mine, but the government's spokesman Pavlos Marinakis stated on Thursday that "there was no concrete decision made at the operational level." Sheila Cameron is the CEO of Lloyd's Market Association. She said that the threat of mines was a major barrier to the return of trade. Cameron's association, which represents the interests of Lloyd's of London insurers, said that "ongoing monitoring of seaways" is necessary to "provide reassurance to shipowners and crew." Jakob Larsen is the chief safety and security officer at shipping association BIMCO. He said that both sides must give credible assurances before traffic can return to its pre-conflict level. The threat of mines remains a concern, both immediately and in the future. Mine-free routes must be established. (Reporting and editing by Kirsten Doovan, Bart Meijer Renee Maltezou Jonathan Saul, Sabine Siebold)

• European shares fall on Fed rate hike bets

  Investors?bet? that the Federal Reserve would raise rates next, following hawkish predictions from policymakers. However, easing oil prices helped to temper inflation fears. By 0812 GMT, the pan-European STOXX 600 Index was down 0.15% to 638.35. The Fed kept rates unchanged on Wednesday but persistent inflation worries led?nine officials to predict one rate increase this year. According to the FedWatch tool of CME Group, traders expect rates will remain unchanged through the end of this year. Brent crude oil prices continued to fall on Thursday, trading at around $77 per barrel after the U.S. signed an interim deal with Iran that would end the war and reopen Strait of Hormuz, and lift U.S. sanction on Tehran's petroleum. The energy-sensitive airlines Lufthansa & Air France grew by 0.9% &?2.7% respectively. Chipmakers Infineon, Aixtron and others gained more than 4% in response to a rally of Asian stocks. Generali gained 2.6% following a report that UniCredit was seeking to?double its stake in lender Delfin through the Del Vecchio holding company. Shares of?UniCredit rose 0.3%. Tesco, the UK's largest food retailer, fell 3.3% following a report that sales growth in its first quarter was impacted by the Middle East conflict. Edenred's stock jumped by?13.9% following a report in the media that BC Partners, a British company, is considering a takeover bid for the French voucher firm. Reporting by Utkarsh Hathi in Bengaluru and Johann M Cherian; editing by Harikrishnan Nair

• French and Benelux stocks: Factors to watch

  Here are some company news and stories that could have a significant impact on markets in France and Benelux or individual stocks. AIR FRANCE KLM: The Franco Dutch airline group has signed a multi-purpose credit facility worth EUR1 billion with 12 international banks. Its aim is to refinance existing financial instruments, including M&A, starting in H2 2026. AUTOS: The number of battery electric vehicles registered in Europe in May reached a new record, continuing a strong growth, as policy support, subsidies and higher petrol prices boosted demand. DERICHEBOURG SA : French waste management company Derichebourg Environnement has won a total of four waste collection contracts worth EUR74.85 million (USD 85.8 millions) over a multi-year period. FIGEAC AERO : French aerospace parts maker Figeac Aero has won a contract with Dassault Aviation for the production of?parts and canards for Rafale aircraft. Deliveries are expected to start in 2026, reaching cruising speed by 2027. GTT: A French group has received an order for the design of three?LNG tanks for land-based storage, scheduled to be delivered in Q4 2028. IRAN: On Wednesday, the U.S. president Donald Trump threatened to re-attack and kill Iranian officials who failed to honour their commitments. RENAULT GROUP - The French automaker acquired the full ownership of Flexis, an electric van company by purchasing Volvo Group and CMA CGM Group stakes. VINCI: French infrastructure company Vinci reported that autoroutes traffic was down 1.8% despite a 0.3% year-on year increase in May 2026. Airport passenger traffic, however, rose by 0.6% compared to the same period last year with a 0.1% year-on year gain in?May 2026. Pan-European market data: European Equities speed guide................... FTSE Eurotop 300 index.............................. DJ ?STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European pct ?gainers....................... Top 25 European pct losers........................ Stock markets: Dow Jones ............... Wall Street Report ..... Nikkei ?225............. Tokyo report............ London report ........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... Survey of global bourse outlook ......... European Asset Allocation........................ News in a glance Top News ............. Equities.............. Main Oil Report ........... Main currency report .....

• KKR invests $1.4 billion in aircraft leasing and targets airlines, Boeing, and Airbus

  Private equity firm KKR announced a new $1.4 billion bet on aircraft lease with a partner Altavair on Wednesday, as Airbus and Boeing continue to struggle with a lack of planes. Private equity firms and leasing companies are playing a greater role in financing aircraft purchases. This is because airlines are facing rising costs, recovering travel demand and limited aircraft supply. About half of the world's fleet is now leased, or rented. KKR has invested more than 12 billion dollars in aviation since 2015. Altavair is a company that focuses on the acquisition of new and used aircraft, and then leasing them to passenger and cargo carriers worldwide. A person familiar with the transaction stated that the majority of capital was still available to be allocated. This will take place over the next 4 years. KKR intends to purchase aircraft directly from airlines that are looking to release cash as well as from manufacturers like Airbus and Boeing, and via secondary market transactions. The deals involve leasing aircraft to airlines under long-term contracts. This allows them to continue operating their fleets while raising cash. The company is focused on long-term leasing with established airlines and freight operators, rather than distressed or bankruptcy cases, such as Spirit Airlines which ceased operation in May after failing?to secure support for a government bailout program, according to the source. Since 2018, KKR and Altavair have acquired 188 aircrafts and engines and leased them out to 67 airlines and cargo customers around the world. The person stated that fuel price volatility and geopolitical tensions had a limited impact on these investments in the near term, as leases are typically for 5-10 years, with predictable cash flow. KKR backed previous fleet transactions, including a 2020 deal that saw the company lease Boeing 777s and Airbus A330s back to Etihad Airways as part of its strategy for fleet transition. (Reporting and editing by Stephen Coates; Sabrina Valle)

• Qantas chooses London as the first non-stop flight to break Qantas' record

  Qantas Airways announced on Wednesday that?London was the first destination of the world's largest direct commercial flight. The trip is roughly 20 hours from Sydney, eliminating the?traditional halt on the "Kangaroo Route". Vanessa Hudson, the CEO of Australian carrier, told an audience in Toulouse, France that they plan to start selling tickets by February, and launch flights in October 2027. The airline is part of "Project Sunrise", which will serve New York in the future using modified Airbus A350 1000ULR jets that can fly up to 22-hours with 238 passengers aboard. The announcement is part a fleet revamp that began in 2017, when Qantas challenged Airbus to develop planes capable for ultra-long haul non-stop routes out of Australia. Hudson, who unveiled the first Airbus plane in bright sunshine without its Rolls-Royce XWB-97 engine because it was still in its early testing stages, said: "Australia's separation from the rest should not stand in the way." It is hoped to reduce the five-day journey on the Kangaroo Route to London from around 19 to 21 hrs, depending on wind direction and routing. Qantas plans to use polar routes around a quarter of time, particularly during winter in the northern hemisphere. The journey now takes between 24 and 25 hours, via Singapore. Qantas is taking a big risk with this project, which involves billions in aircraft upgrades, research on passenger health and a re-design of the cabin. It must be able to convince passengers to pay more in order to avoid long layovers while minimizing the discomfort of long flights. John Strickland, aviation analyst, said: "What they're selling is time. They need to charge a premium for all cabins, especially premium economy and business." Qantas named Project Sunrise in honor of its double sunrise endurance flight during World War Two. The airline remained airborne for long enough to witness two sunrises. The airline estimates that the project will add A$400,000,000 ($283,000,000) to its earnings every year. Hudson stated in February that this was based on ticket prices being around 20% higher in premium cabins than other one-stop options. Analysts say that high energy prices due to the Gulf conflict has raised the threshold for achieving break-even. 'POSITIVE MARKET' In an April note, Jefferies analysts predicted that after the initial U.S. Iran ceasefire and before this week's peace agreement, passengers would continue to prefer direct routes to Europe via Perth. They also said they expected Middle Eastern hubs to shift to Asian hubs through 2027. They said: "We expect Project Sunrise flights from London to have a good market." Gulf carriers like Emirates, who re-drew the aviation map around their hubs are expected to defend their share of the market. Australia lifted its "do-not-travel" warning against Gulf hubs, which had been in place for months. This had invalidated many travel insurance policies, even those of transit passengers. Airbus won Project Sunrise?order in 2019, after a fierce battle with Boeing's 787X. Airbus conducted the first test flight of one of 12 modified A350 1000ULR aircraft ordered by Qantas earlier this month. The planes with 238 seats have an additional rear-centre tank that helps to increase range from 1,000 nautical miles (1.852 km) up to 10,000 nautical mile. Flights are so long that fuel is used to carry the weight. Due to COVID-19 and the supply chain delays, the?first aircraft will be delivered in April 2027. This is about five years after originally anticipated. Reports this month stated that Qantas was in discussions to purchase 20 additional wide-body jets, including the smaller A350 900 or Boeing 787s.

• There are some flights to the Middle East that have resumed but there is still disruption.

  Some airlines have resumed flights to certain parts of the Middle East, as diplomatic efforts to resolve the conflict that followed the U.S.-Israeli strikes on Iran gain momentum. However, many carriers continue to suspend flights, causing global travel disruptions. The following is a list of the current status of flights by alphabetical order. AEGEAN AIRLINES Thessaloniki-Tel Aviv flights were cancelled by Greece's largest airline until June 26. Dubai flights are cancelled until August 31. Erbil and Baghdad flights until September 30. AIRBALTIC AirBaltic, a Latvian airline, has canceled flights to Tel Aviv and Dubai until the 28th of June. AIR CANADA Canadian Airlines has cancelled all flights to Tel Aviv, Dubai and Abu Dhabi until October 24. AIR EUROPA Spanish Airlines has cancelled all flights to Tel Aviv up until the 28th of June. Air France-KLM Air France suspended flights to Tel Aviv until June 23. Flights to Beirut will be suspended until June 24, and flights to Dubai until the 30th of June. KLM has suspended flights from Riyadh to Dammam, Dubai and Dammam until August 9. CATHAY PACIFIC Hong Kong Airlines has suspended its flights to Dubai and Riyadh through August 31. The U.S. carrier suspended service for the Atlanta-Tel Aviv routes through December 18, 2018. The airline plans to resume New York-JFK-to-Tel Aviv flights starting September 6. However, the launch of Boston-Tel Aviv, originally planned for October, will be delayed until further notice. FINNAIR It has cancelled its Doha flights up to October 2 and continues to avoid the airspaces of Iraq, Iran Syria, and Israel. The airline will resume its Dubai flights in October, which are only operated during the winter. British Airways, owned by IAG, has delayed the resumption?of its flights from Doha to Riyadh and until August 8th. Flights from Amman, Dubai, Tel Aviv and Bahrain are on hold until the end the summer season. They will resume in October. When it resumes, the airline plans to reduce its services to Dubai and Doha to just one flight per day, and to drop Jeddah from the list of destinations. JAPAN AIRLINES Japan Airlines has suspended its scheduled Tokyo-Doha and Doha-Tokyo flight until August 1, as well as Doha-Tokyo until July 31. Polish Airlines has cancelled all flights to Riyadh and Beirut until 30 June. LOT will begin operating its winter route from Dubai in October. LUFTHANSA GROUP Lufthansa has announced that it will resume Tel Aviv flights as soon as July 1, whereas ITA Airways confirmed they would begin on July 1. SWISS delayed the return of flights to August, while Brussels Airlines suspended its operations until October 24. The suspension of Dubai flights by Lufthansa SWISS and ITA Airways continues until September 13th. Lufthansa has suspended all flights to Abu?Dhabi until October 24, as have SWISS, Austrian Airlines, Brussels Airlines, Beirut Airlines, Dammam Airlines, Riyadh Airlines, Erbil Airlines, Muscat Airlines, and Tehran Airlines. Eurowings, a low-cost carrier, has suspended its flights to Tel Aviv and Erbil from June 30 to July 9 and Dubai Abu Dhabi and Amman till October 24. ITA Airways also extended its suspension of flights to Riyadh through July 31. MALAYSIA AIRLINES From July 2, the Malaysian airline will resume limited service to Doha. NORWEGIAN AIR Low-cost carrier has delayed the launch of Tel Aviv and Beirut indefinitely and no new start date has been set. ROYAL MAROC Moroccan airline announced that flights to Doha have been cancelled until 30 June. SINGAPORE Airlines In order to?meet increased demand, the carrier has extended its Singapore-Dubai suspension until August 2. It also added services on Singapore-London Gatwick?and Singapore -Melbourne routes between late March and October 24. TURKISH AIRLINES SunExpress, Turkish Airlines joint venture with Lufthansa has?cancelled' flights to Dubai, Bahrain, Beirut, and Erbil, until July 14. WIZZ AIR Low-cost airlines have suspended flights from Europe to Dubai, Abu Dhabi, and Amman until mid-September. (Compiled by Josephine Mason and Jamie Freed. Elviira Lioma, Tiago Branao, Agnieszka Olesska, Bernadette HOG, Alexander Klyve Gudbrandsen, Romolo TOSIANI, Boleslaw LaSocki). Matt Scuffham and Alexander Smith edited by Susan Fenton, Milla Nissi-Prussak Jonathan Ananda Joe Bavier, Louise Heavens, Louise Heavens, Louise Heavens, Louise Heavens, Louise Heavens, Louise Heavens, Louise Heaven, Bernadette Hogg, Romolo Tosiani.

• Qantas announces first route for ultra long-haul Project Sunrise flights

  Qantas Airways will announce the first destination on Wednesday for the longest non-stop flight in the world?from east Australia to London or New York. This is a major breakthrough after years of delays. Since 2017, "Project Sunrise", a plan to offer direct flights on modified Airbus long haul jets to London hubs in the Middle East and Asia, has been under development. It is expected to be operational by the end next year. It is hoped to reduce the five-day journey on the "Kangaroo Route", which used to take place from Sydney to London, to a maximum of 22 hours depending on wind and route. The journey now takes between 24 and 25 hours via Singapore. The airline has not yet announced which destination will be first. Qantas currently flies to New York from Sydney via Auckland. The project is considered a "major bet" by the Australian airline, who has spent billions of dollars on changing fleets, cabins, and researching the health effects associated with a single round-the-world flight. It must convince passengers to pay extra to avoid long layovers while minimizing the discomfort of long flights. John Strickland, aviation analyst, said: "What they're selling is time. They need to charge a premium for all cabins, especially premium economy and business class." Qantas' Project Sunrise is named after its double sunrise endurance flight during World War Two. The airline stayed airborne long enough to witness two sunrises. The airline has estimated that the project will add A$400,000,000 ($282,68 million) to its earnings every year. Qantas CEO Vanessa Hudson stated in February that the project was based on an assumption that non-stop flights would attract ticket prices 20% higher than alternatives with one-stop stops in premium cabins. Analysts say that high energy prices due to the Gulf conflict has raised the bar on breaking even. 'POSITIVE MARKET' In a note published in April, Jefferies analysts stated that passengers will continue to prefer direct flights to Europe via Perth. They also said they would switch from Middle Eastern hubs to Asian hubs until 2027. They said: "We expect Project Sunrise flights from London to have a good market." Gulf carriers, like Emirates, who redrew aviation maps around their hubs have said they will defend their markets. The Australian government lifted its "do-not-travel" warning against Gulf hubs on Wednesday, which had been in place for months and had invalidated most travel insurance policies. Qantas will present the economics behind the new direct flights and its customized cabins at an event on Wednesday in Toulouse. Airbus won Project Sunrise after an intense competition with Boeing's new 777X aircraft in 2019. It conducted the first test flight of one of twelve?modified A350 1000ULR aircraft ordered by Qantas earlier this month. The planes with 238 seats have an additional rear-centre tank that helps increase the range from 1,852 km to 10,000 nautical mile. Flights are so long that much fuel is used to carry the weight. The first plane is expected to arrive in April 2027. This is five years after the original date due to issues with the aerospace supply chain and COVID-19. This month, it was reported that Qantas has been in discussions to purchase 20 additional wide-body aircraft. The smaller A350-900 and more Boeing 787s are being considered. $1 = 1.4150 Australian Dollars (Reporting and editing by Jamie Freed; Tim Hepher)

• Riyadh Air, a Saudi-backed airline, has been granted permission to fly US routes

  The U.S. Transportation Department announced Tuesday that Saudi Arabia's Riyadh Air won the rights to fly to and from the United States. Last week, the airline began its first London flight using its new Boeing fleet. Riyadh Air, Saudi Arabia's next national airline, will be launched in 2023. It is owned by Saudia's Public Investment Fund. USDOT stated that "the grant of this authority is in the public's interest." Riyadh Air informed the?USDOT last month when it requested approval that it intended to operate to more than 100 destinations Delta Air Lines, for example, has or is planning partnerships with at least 10 international airlines. Delta plans to launch nonstop flights to Riyadh in October from Atlanta. Last week, Tony Douglas, CEO of Riyadh, said that the company plans to deliver eight aircraft by the end of July and fly to 22 destinations by March 2027. Douglas describes it as "the largest global aviation startup in recent history" with up to 72 787s, 60 A321neos, and 50 A350s ordered. The airline is part of the plan for the oil-producing nation to diversify their economy by focusing on new industries like tourism, logistics, and technology. Douglas stated that Riyadh Air has so far announced routes to Cairo, Dubai, Jeddah and Manchester, with cities in India likely to follow.

• Norwegian Air will buy Nordic Leisure Travel Group at $843 Million

  Norwegian Air, a budget airline, announced on Tuesday that it has agreed to?buy the package holiday company Nordic Leisure Travel Group. The deal is worth around 8.94 billion Swedish crowns (US$842.90m) in cash and stocks. Norwegian stated that the 'deal', which includes tour operator and hotel brand names, would create a Nordic Travel Group serving 'roughly 30 millions customers annually. Revenues will increase by close to 50%, and earnings will be accretive starting in 2027. Norwegian Air CEO Geir Carlsen stated in a press release that "we?see an opportunity to grow our hotel and holiday sales amongst our existing customers." The deal, which is backed by Geveran's largest shareholder, is subject to shareholder and regulatory approval, including EU antitrust clearance. It is expected to close in the second half of 2026. Norwegian stated that upon closing Strawberry Equities, funds managed by Altor and TDR Capital will become "significant shareholders".

• EU lawmakers continue to pay compensation for delayed flights

  The European Parliament agreed Monday that the EU should keep the current three hour flight delay threshold as the compensation threshold in its next set of airline passenger's rights. This agreement ended a decade-long debate. On 'Friday, the 27 member states agreed to maintain the current level compensation for airlines in case of delay. More than a decade before, the European Commission, which is the EU executive branch, proposed to reduce the amount passengers are entitled to. This issue pitted airlines who demanded greater flexibility in order to "remain competitive" against consumer protection organizations. Both sides have lobbied EU Institutions for many years. According to rules that have been in place since 2004, passengers who are delayed more than three hours may be entitled to compensation ranging from EUR250 ($290.05),?upto EUR600, depending upon the length of their flight. After years of debate the EU countries and European Parliament agreed to the status quo. The member states and the parliament have agreed that airlines can charge for large bags as long as they offer free small bags. They also agree to include the fee for cabin baggage in the basic ticket price. Consumers who choose to opt out of the agreement will receive discounts. The aim of the measure is to increase 'price transparency and comparison. These fees were widely criticized by consumer rights associations across the EU. This sparked a political fight in 2024 when the Spanish Consumer Rights Ministry fined low-cost airlines EUR179,000,000 for charging them. The airlines have appealed against the fine. These countries have also enacted rules allowing an accompanying adult?to sit near a child?without paying a fee, and forcing airlines to provide?more services in the event of missed connections. The law also prohibited airlines from forcing their passengers to download an app on their mobile phones to obtain a boarding card, a practice Ryanair began in November.