Latest News
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US appeals court upholds Colorado congestion fee on rental cars
?The 10th U.S. The 10th U.S. Circuit Court of Appeals ruled on Monday that Colorado's congestion impact fee of $3 per day for rental cars is valid. Colorado will charge a fee on all rentals less than 30 days in 2024 to reduce the impact rental cars have on the public road system. The state said the funding would be used to support investments in rail and transit services, which will reduce?traffic. The fee is adjusted annually for inflation. It applies to car-sharing programs as well as larger vehicles such moving trucks. The American Car Rental Association that brought the legal challenge?didn't immediately respond to an?invitation for comment. The appeals court upheld the ruling of a lower court that had previously found this fee to be legal. The issue is laws passed by Congress in 1972 which expanded the prohibitions of local taxes on air travelers and air commerce to include businesses at commercial service airports. In 2018, a law was passed that said airport businesses could not be taxed unless they were used exclusively for aeronautical or airport purposes. The?court, in a 2-1 decision, found that the fee is?valid because?the payers of the fee are people who rent cars and not car rental companies. It also added that the fee will benefit 'travelers who use the services provided by the surface transportation infrastructure funded by the fee. A U.S. judge in New York ruled that the U.S. Transportation Department’s efforts to end Manhattan’s congestion pricing program were illegal. This was a blow for President Donald Trump’s efforts to remove this charge. (Reporting and Editing by Bill Berkrot.)
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JetBlue changes its fare structure to reflect the benefits of segmented pricing
JetBlue Airways announced on Monday that it will be overhauling its fare options to give customers more flexibility in choosing seats as well as?change and refundability options. Airlines are increasingly relying on segmented prices to 'boost revenue' and offset higher costs. The New York-based carrier said that the update would be released in the next few days. It is expected to announce its second-quarter earnings on Tuesday before the bell. The segmentation of fares and customer choice have become crucial for revenue performance, even though fuel price volatility will remain a risk. Customers will be able book the fare that is right for them. "First, they will be able to choose the best fare based on their preference for seat selection, refundability, and the onboard experience," said JetBlue President Marty St. George in a press release. Investors are watching to see how JetBlue did in recapturing fuel costs through higher ticket prices during the second quarter. United Airlines, Delta Air Lines, and Alaska Airlines are among the peers who reported higher revenue through fare increases. Now that we've heard a few carriers talk about it, now all the airlines must reflect that. Peter Trombetta is the vice president of corporate financing at Moody's Ratings. The revenue side is crucial. "We know that costs will be higher." The airlines raised their fares in the spring to compensate for the increase in jet fuel prices linked to the Iran War. However, these increases -- which averaged around 20% -- did not fully cover the cost. As of July 24, the U.S. spot price for jet fuel had risen to $3.67 per gallon. Prices are still well below the peak in early April of about $4.88 per gallon. Airlines are using consumer choice and flexibility as levers to "drive" stronger revenue performance. Southwest Airlines reported that the expansion of its basic economy product resulted in more base-fare purchases and a greater rate of customers upgrading?when given the choice. Delta announced last month that they would 'offer basic fares in all premium cabins so travelers can access premium products for a cheaper price. JetBlue said that while it has offered tiered fares in the past, its revamp will prepare travelers for BlueFirst, JetBlue's new first-class domestic experience. St. George stated, "We want customers to know JetBlue has the experiences that they're looking for."
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Avincis, an aerial firefighting company, says that Europe's massive wildfires are straining waterbomber capacities.
Avincis, Europe's leading aerial emergency services company, warns that Europe is not prepared for longer and more severe wildfire seasons. The chief executive of the firm told? Avincis' chief executive told?treffenificaresprache?nemzeug vo Ihre ore the company's CEO John Boag stated that bureaucratic barriers and longer European wildfire seasons have caused regional shortages in both aircraft and experienced pilots. Boag, a helicopter pilot who began his career in Australia's outback herding?cattle in a Bell 47 chopper in 1985, said that "globally, fire seasons have been getting longer. Aircraft are not moving from area to area and it is becoming increasingly difficult to find pilots." Boag's comments, made as a helicopter pilot, who started his career in Australia in 1985 herding cattle in the outback of Australia in a Bell 47, coincide with France and Spain battling historic wildfires following weeks of drought that turned?forests in to major fire hazards. Avincis of Lisbon says that Europe is under pressure in part because extra months spent fighting fires narrows the window to move capacity between hemispheres and leaves gaps in capacity. Boag stated that aircraft are now available from March and April, all the way through October. The problem is made worse by the wet winters, which encourage the growth of tinder-like vegetation. The spread of fire risks further north is also a cause for concern. Boag explained that commercial companies cannot go to the South and make more money during the off-season. PILOT RECRUITMENT HUDLES Avincis operates a fleet of 180 helicopters and 40 fixed-wing aircraft worldwide, including 22 Canadair Waterbombers. Avincis, which uses 47 aircraft in Spain and Portugal to fight fires, has already flown over 5,000 hours this year. This is more than twice the amount of time it flew in 2025. De Havilland Canada, based in Toronto, has sold 22 rugged water-scooping Canadairs to Europe. A new model will be released after a decade of production halt. However, it won't reach its first customer in Greece until 2028. Alternatives are few. Airbus A400M, a military aircraft that dropped 20 tonnes of fire retardant in France to fight the fires. Other companies, such as China's Comac, showcased possible plane variants during the Farnborough 'Airshow' last week. A French startup called HYNAERO is currently in the design phase for an amphibious aircraft that will be ready by 2032. The firefighting process is difficult, as it requires precision low-level flying to combat unpredictable air currents. There is a shortage in experienced pilots and technicians, according to experts. Boag criticized European rules that force?pilots who come from abroad or the military to retake civil aviation exams. Boag stated, "We need to have a way to quickly get people to Europe without bureaucracy." The aerodynamics of a helicopter is the same for the military as it is for the civilian world. The European Union Aviation Safety Agency did not immediately comment on its pilot license rules. (Reporting and editing by Susan Fenton; Tim Hepher, Reporting)
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Ireland's DCC Energy will go private with KKR Energy Capital in a $7.7 billion deal
Irish energy distributor DCC Energy agreed on Monday to a PS5,75 billion ($7.68billion) sale to a U.S. consortium of private equity firms KKR & Energy Capital Partners. This is the second foreign takeover this year of a UK listed company. DCC shareholders can expect to receive PS65.25 in cash per share, a final dividend of 147.22?pence and up to PS1.25 per share if the company sells its Nexora Technology unit for more than $800?million. When asked to explain the reasoning behind the agreement, CEO Donal Murphry said: "We have simplified the group and spent a lot of time on investor relations. But that hasn't translated in?the value private capital will put on our company." The third bid, which was made by the consortium, represents a more than 26% premium to the closing price of the group on April 28, a day before the consortium's initial offer. Investors, including Fidelity shareholder, had been opposed to a takeover. Murphy stated that one of the opposition shareholders, whom he did not name, "sold a very large percentage of their stake for a price lower than what the consortium is offering" and that the board felt confident that investors would support the deal. Alex Wright, portfolio director of Fidelity Special Situations Fund and Fidelity Special Values Fund, stated that the fund continues to oppose this deal and believes DCC remains an attractive long-term investment proposition. By 1403 GMT, shares of DCC had risen 1.2% to PS63.60. LONDON EXODUS CONTINUES Private equity has increased its interest in UK listed companies that trade at low valuations. EasyJet has been in discussions with two firms about a possible sale. Intertek, meanwhile, agreed to be taken private by EQT in June. Angeline Ong is a senior investment analyst with trading platform IG. She said that the UK excels at fostering successful companies but has difficulty in retaining them as domestically-located and owned global firms once they grow or want to grow. LSEG data shows that UK M&A will be largely driven by foreign bids in 2026, with a total of more than $197 'billion. This is the highest figure for a year since records began in 1980. U.S. buyers account for over half of foreign takeovers this year.
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Houthis claim they have targeted Saudi oil exports from the east to west
Yemen's Houthis, who are aligned with Iran, said that they had targeted a number of sensitive sites for supplying and transporting crude oil between eastern Saudi Arabia and the important Red Sea oil export hub Yanbu. Aramco, the Saudi state oil company, did not immediately respond to an inquiry for comment. Yahya?Saree, the Houthi military spokesperson, said that the operation was a response to what he called Saudi drone incursions in Yemeni airspace. Saudi Arabia has rerouted its crude production?to Yanbu through?its east-west pipe to avoid Iranian attacks on shipping along the Strait of Hormuz. These attacks began after the U.S. launched a military campaign against Iran in February. Last week, Iran’s Houthi allies announced a 'blockade' of Saudi Arabia’s oil industry on the Red Sea. This pushed oil prices higher. Saudi Arabia has responded by airstriking what it says are Houthi military facilities in Yemen's Hodeidah Port, saying that it would protect shipping. (Reporting and editing by Michael Georgy and Tomaszjanowski, Sharon Singleton and Eman Abouhassira)
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Brookfield raises 2 billion dollars for Middle East Fund from investors, including Saudi Arabia's PIF
Brookfield, a global investment firm, announced on Monday that it had raised $2 billion in private equity funds from strategic anchor investors including Saudi Arabia’s sovereign wealth fund. The fund will invest in Saudi Arabian companies and other Middle East firms. The Brookfield Middle East Partners fund (BMEP) aims to allocate half of its investments in Saudi Arabia. Brookfield, with a portfolio of?more than 1 trillion dollars, will contribute $500 million. Private equity firms from around the world have increased their investments in the Gulf region in recent years. They are attracted to the proximity of some of the largest sovereign wealth funds in the world and the growing pipeline of regional deals, such as in infrastructure. Bruce Flatt, CEO of Brookfield, said: "We see an opportunity to partner and position businesses in the region for long-term success." He cited "global trust and a strong demand for private equity opportunities in Saudi Arabia". Brookfield is a member of a global consortium of investors that announced a $16 Billion deal on Saturday with Kuwait Petroleum Corporation (KPC). This deal was made to counter concerns about the?impact the Iran War. Our partnership with Brookfield is intended to anchor international private equity in Saudi Arabia and the region. The partnership will accelerate deal 'flow and continue to 'bring world class expertise to the local market ecosystem," said Yazeed Al-Humied. He is deputy governor of PIF and head MENA Investments.
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Source: Kazakhstan's daily crude oil production has been reduced by half after the closure of export terminals
An industry source reported on Monday that Kazakhstan, one of the 10 largest oil producers in the world, had more than halved its daily oil production after drone attacks forced the closure of the main terminal for exporting crude oil into Russia's Black Sea. Kazakhstan's production decline is likely to contribute to global concerns about oil supply due to the Strait of Hormuz being effectively closed and the risks of shipping commodities via other sea routes. This also demonstrates the fact that Russia is the largest country in the world to be landlocked. According to an industry source, the oil and gas condensate output in Kazakhstan dropped by more than half on Sunday compared with June's average levels, dropping from 2,16 million barrels a day to 133,200 tons or 1 million barrels a day. The Kazakhstan energy ministry announced on Monday that the Caspian Pipeline Consortium (CPC), which operates the pipeline, had resumed loading operations after a one-week suspension. More than 80% oil is exported from Kazakhstan through the pipeline, which connects the 'giant Tengiz' oilfield in Kazakhstan to the Black Sea terminal. This country has a number international oil companies, such as ExxonMobil and Chevron. TANKERS BERTHED FOR LOADING According to the ministry, two oil tankers - Seamajesty Milos - were docked at CPC's terminal for loading. The ministry added that both vessels were loading volumes of Tengizchevroil, a U.S. Chevron company. The company did not make any comments on the production cuts. Last week, it said that export restrictions and CPC loadings were the reason for the reduction in output. CPC said that two tankers were berthed on the Black Sea terminal by Monday. It also stated that its pipeline had been back online since 12 :28 pm. Moscow time (0928 GMT). LSEG data shows that the Suezmax Asia, chartered by Chevron, was also at Black Sea Terminal at noon on Monday. Chevron stated that it "continues" to monitor the CPC situation, adding that the safety and security for its personnel remains its highest priority. It declined to comment further. The CPC pipeline is more than 1,500 km long (940 miles), and runs from Kazakhstan’s Tengiz Oilfield in the west of the nation via Russia to the port of Novorossiysk, on the Black Sea coast of Russia. As the four-year-old war continues, Ukraine and Russia are intensifying their counterattacks against vessels and other targets. Drones have attacked several tankers near or at the terminal. Reporting by Louise Heavens; Editing by Emelia Sithole Matarise and Louise Heavens
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Italy prepares measures to keep fuel costs below EUR2 amid fiscal worries
Italian officials and a leading lawmaker announced on Monday that the cabinet would 'adopt new...measures to curb the soaring fuel?prices.' Concerns about fiscal impacts of such measures are growing. The increase in energy prices and consumer costs due to the Middle East war has caused major problems for the Italian Government, which is attempting to balance state finances and protect the purchasing power of households and energy-intensive industries. The government sources said that the cabinet will meet on Monday evening to discuss new measures, focusing on diesel prices. Further action is expected on August 4th. Massimo Garavaglia of the Finance Committee of the Upper House of Parliament, without specifying a timeframe, told journalists in Milan that the "government" would take action to ensure that diesel and gasoline prices remain below EUR2 threshold. "We are now going to make some adjustments to excise duty to ensure that all Italians have a smooth holiday start. "We will then, as always monitor the situation," said he. In March, Italy implemented a temporary reduction in?acquisition duties on diesel and petrol as a response to the energy crisis triggered by Israel-Iran Conflict. The measure was repeatedly extended and then progressively'scaled back' until it ended on July 3 at a cost of nearly EUR2 billion ($2.28 billion) to the taxpayers. The European Commission and IMF both criticised the reduction in excise duties, saying that Italy should have taken more targeted measures, to protect the most vulnerable households. This would have had a less impact on Italy's already stretched budget. In a Monday statement, the industry ministry stated that "the average price for fuel at self-service stations on Italy's road system is EUR1.982 per litre of petrol and EUR2.185 per litre of diesel. This has increased from EUR1.803 on July 3 and EUR1.882 on July 3, respectively." The industry ministry said in a statement on Monday that?the average price of fuel at?self-service stations across Italy's road network is EUR1.982?per litre for petrol and EUR2.185 for diesel, up from EUR1.803 and EUR1.882 respectively on July 3.
NTSB Chair urges Congress to pass aviation legislation
The head of the National Transportation Safety Board urged Congress on Monday to end a long-running standoff over competing safety measures in aviation and approve major reforms.
Jennifer Homendy, the NTSB's Chairperson, said that "the board" had "provided a roadmap for improving aviation safety and reducing the risk of another mid-air collision." It's now time to take the action promised months ago."
The U.S. House of Representatives voted in April 396-10 for a sweeping aviation reform bill that would address dozens of recommendations made after a collision between an American Airlines regional plane and a U.S. Army chopper in January 2025, which killed 67 people. Meanwhile, a rival bill called the ROTOR act passed the U.S. Senate in December unanimously but required a two-thirds vote in the House under fast-track regulations and fell one vote short.
The NTSB stated that ADS-B could have prevented the collision of 2025 in the crowded airspace near the nation’s capital.
The NTSB reported in January that systemic failures of the FAA were responsible for the accident, which was the worst U.S. airline disaster since 2001.
The House legislation mandates the installation of collision-prevention technology on all military aircraft, except for fighters, Bombers, and Drones. It also establishes requirements to equip collision-mitigation technologies for civilian planes and helicopters.
The House and Senate are currently in talks to resolve their differences.
Bryan Bedford, the head of Federal Aviation Administration, said earlier this month that he provided technical assistance to Congress regarding?the bills.
Bedford stated that the FAA would rather have lawmakers direct the FAA on ADS-B than wait for a perfect solution which could take six or seven years.
The NTSB found that the accident in 2025 was caused by the FAA's decision of allowing?helicopters close to airports?without safeguards to separate aircraft from helicopters, and their failure to review and act on recommendations for moving helicopter traffic away. Reporting by David Shepardson, Editing by Chris Reese & Aurora Ellis
(source: Reuters)