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JetBlue flight avoids collision with US Air Force jet in mid-air
JetBlue avoids collision with Air Force jet that was not tracked Incident after US military build-up near Venezuela FAA warns airlines about risks in Venezuelan airspace By David Shepardson WASHINGTON, DECEMBER 15: A JetBlue passenger plane bound for New York avoided a midair collision on Friday with a U.S. A pilot reported in an air traffic recording that a?Air Force aircraft was near Venezuela. JetBlue Flight 1112 was departing Curacao in the Caribbean and flying approximately 40 miles (64km) off the coast Venezuela when an Airbus A320 reported that it had encountered the Air Force plane, which didn't have its transponder turned on, according to a recording taken by liveatc.net. JetBlue's pilot stated that the Air Force pilot flew within a few miles and was at the same height as the plane. They passed directly in our flight path. The transponder on their aircraft was not turned on. "It's outrageous", said the pilot. JetBlue's pilot reported that the Air Force jet entered Venezuelan airspace. "We nearly had a mid air collision up here." JetBlue's spokesperson stated?on Sunday that safety is the company's number one priority. Our crew is trained in proper procedures to handle various flight situations. We appreciate that our crew reported this incident promptly to our leadership. We have reported the incident to federal authorities, and we will cooperate in any investigation. The incident occurred as the United States mounted a 'large-scale military buildup' in the southern Caribbean, as President Donald Trump campaigns against Venezuelan leader Nicolas Maduro. This pushed relations to their most explosive point in years. U.S. Southern Command stated in a Monday statement that it was aware of the incident, and is'reviewing' the matter. The military said that its "aircrews" are highly-trained professionals who follow established procedures and adhere to applicable airspace requirements. Safety is our top priority and we're working through the appropriate channels to gather the facts about the situation. Last month, the Federal Aviation Administration issued a warning to major airlines that they were flying into a "potentially dangerous situation" over Venezuela, and asked them to be cautious. As tensions worsened, major airlines around the globe have suspended flights. Trump has also threatened to start hitting Venezuelan land targets. The FAA didn't immediately comment on Monday about the JetBlue incident. (Reporting and editing by Lisa Shumaker in Washington, with David Shepardson reporting from Washington)
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Kenya signs power line deal worth $311 million with Africa Fund, Indian company
Kenya signed a $311 million agreement on Monday with PowerGrid Corporation?of India and a pan-African Infrastructure Fund for the construction of high-voltage transmission lines. In order to fund infrastructure projects, the East African nation has turned to public-private partnership and securitisation. This is due to high public debts and a tight fiscal environment. According to the Ministry, under the power line deal, Africa50, an infrastructure fund based in Morocco that is owned primarily by African countries, will work with PowerGrid on the design, financing, construction and operation of?the transmissions lines and sub-stations. Africa50 announced that the project company would "undertake the complete lifecycle?of the transmission network, from construction through to operation -- over a 30-year period of concession". It said that the two lines "would unlock cleaner, more affordable and reliable power for millions Kenyans." It was unclear how much money would be invested and what the increase in transmission capacity would look like. Kenya Electricity Transmission Company Limited, a state-owned firm, is the contracting party. According to the Finance Ministry, the project will "enhance the system stability, reduce load-shedding and technical losses, and facilitate renewable energy integration." In the past, high demand-driven 'overloads' were blamed for tripling up the grid and causing nationwide blackouts. The government is trying to 'address this by expanding infrastructure in order to accommodate increased demand without straining network. The debt burden of 'Kenya and the resistance to tax increases have closed off traditional financing sources for such infrastructure. President William Ruto responded by negotiating with the private sector. Critics claim that the strategy exposes state liabilities to increased liability through opaque "contracts". The government has dismissed the criticism. Last year, Ruto's attempt to build new transmission lines with India’s Adani Group fell through after the founder of Adani was indicted by the United States. Duncan Miriri, Aiden Lewis and Duncan Miriri contributed to this report.
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USDOT declares energy emergency in Northeast US because of propane shortage
U.S. Department of Transportation declared a regional disaster for Delaware, New Jersey?, New York? and Pennsylvania because of cold weather, and an outage of power at a Pennsylvania gas refinery? that disrupted propane flow. Declaratory action taken on Friday allows propane, natural gas and heating oil carriers to circumvent the maximum driving time rule while still providing direct assistance in an emergency. Propane is a vital heating fuel, particularly during the winter months. It powers furnaces, water heaters, and stoves for homes and businesses. Cold snaps and winter storms may cause a shortage of propane, so timely deliveries are essential to maintaining?energy security. The National Propane Gas Association states that the emergency is a result of an incident in November at Energy Transfer's Marcus Hook Terminal. The operator declared force majeure and implemented allocation to cover 70% of the contracted loads. Energy Transfer didn't immediately respond to an inquiry for comment. According to the Federal Motor Carrier Safety Administration of the USDOT, the emergency declaration would remain in place 'until the emergency ends or until 11:59 pm ET on December 25, 2015. The department also stated that it could modify the declaration if necessary, including the modification of transportations and goods, or extend or terminate the declaration based on the conditions. FMCSA stated that the exemption from the "declaration" only applied to shipments supporting humanitarian relief, and that it did not waive any other safety requirements such as drug and alcohol tests, commercial driver licenses, and hazardous materials regulations.
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Spirit Airlines receives bankruptcy funding of $100 Million
Spirit Aviation announced on Monday that it had secured $100 million in bankruptcy financing as the struggling?carrier worked on a restructuring plan. Spirit Airlines' parent company filed for bankruptcy a second-time in August after struggling to cope with shrinking cash reserves and mounting losses. Spirit Airlines has been cutting jobs, trimming routes, and reducing operations as part of its broader cost-cutting strategy. The company has already withdrawn from 14 airports and refused leases for over 80 aircraft. The ultra-low cost carrier announced on Monday that all operations, including flights and ticket sales, will continue as normal. Spirit can access $50 million right away, and the rest is subject to restructuring discussions or a possible deal. The?carrier didn't disclose the source of?funding. The Aviation-focused publication, The Air Current, reported on Friday rival airlines are preparing to capitalize on Spirit Airlines' routes if it is forced shut down. (Reporting and editing by Sahal Muhammad in Bengaluru, with Nathan Gomes reporting from Bengaluru)
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Airbus delivered 30 jets during the first half of December, according to sources
Sources and analysts in the industry said that Airbus has delivered 30 aircraft during the first half December. This is a lower-than-average rate for the month, as some airlines are waiting for information on fixes for a recent fuselage issue. Airbus has delivered 657 jets between January and November. "If they have to deliver another 104 planes to reach the revised?guidance around 790 aircraft, it seems to be a very difficult challenge at this stage in the month," said analyst Rob Morris. He noted that Cirium data indicated 29 deliveries by last Friday. Airbus declined to comment on the mid-month figures. Airbus has cut its delivery target for the full year by 4%, to 790 jets instead of 820. This is after CEO Guillaume Faury referred to "weak" deliveries in November following the discovery that some A320 family fuselage panels had a problem. Sources in the industry said that several airlines were reluctant to accept delivery of up to 628 aircraft either in production or already in their fleet until they received more?technical information about inspections to be performed on these planes. They said that some carriers have pressed for better warranty terms and compensation for the disruption. This comes after a software recall. Airbus has declined to comment on any commercial discussion. The company said that the panel defect did not affect safety in?flight. However, the emergency software recall addressed a vulnerability to cosmic radiation revealed by a midair loss of altitude on JetBlue flight. Airbus is ahead of Boeing in terms of deliveries, which helps determine revenue. However, last week, it admitted that it would likely lose the race to win orders for the first time since six years. Tim Hepher is the reporter. (Editing by Tomasz Janowski and Mark Potter.)
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Shipping data shows that tankers have made a U-turn after the US seized Venezuelan oil cargo.
At least four supertankers, due to pick up crude in Venezuela, have made U-turns since the U.S. seize a vessel carrying Venezuelan oil. Last week, the U.S. Coast Guard intercepted and seized a very large crude carriers (VLCCs) that were carrying about 1.85 million barrels of Venezuelan heavy oils sold by PDVSA. This is a sign of increased friction between Venezuela and the U.S. which has increased pressure on President Nicolas Maduro. More than 11 million barrels of oil were left on other vessels in Venezuelan water after the seizure. Some tanker owners have ordered u-turns, to avoid problems. An armada U.S. ships are patrolling the Caribbean Sea. According to LSEG'vessel monitoring data, the Benin-flagged Boltaris tanker, which was carrying 300,000 barrels Russian naphtha bound towards Venezuela, did a u turn late last week, and is now headed for Europe without discharge. Monitoring service 'TankerTrackers.com' said that at least four VLCCs scheduled by PDVSA to load crude oil in Venezuelan ports over the next few weeks also reversed course in recent days. Data showed that the U.S. has been exerting pressure on Venezuela to reduce its oil exports. Only tankers chartered by Chevron are sailing with Venezuelan crude to the U.S., under a Washington-issued authorization. PDVSA announced on?Monday that it was hit by a cyberattack. According to sources, the attack forced the shutdown of Monday's administrative, operational, and oil delivery systems. (Reporting and editing by Julia Symmes Cobb and Jan Harvey; Reporting by Marianna Pararaga)
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Airbus delivered 30 jets during the first half of December, according to sources
Airbus delivered 30 aircraft during the first half of December. This is a lower-than-average rate of delivery for a month, as airlines await details on a fix to a recent problem with fuselages, according to industry sources and analysts. Airbus delivered 657 jets from January to November, so more than 100?jets are still needed to meet the revised?target for 2025 of 790 - a new target. "If they have to deliver another 104 planes to reach the restated guidance around?790 at this point in the month, that seems to be a very steep task," said analyst Rob Morris, noting Cirium data which showed 29 deliveries as of last Friday. Airbus, which has a history of increasing its output during the last days of the calendar year, declined to comment on the mid-month figures. (Reporting and editing by Tomaszjanowski)
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Abu Dhabi Ports signs MoU with Kuwait to develop and operate Shuaiba Container Terminal
Kuwait Ports Authority said that it had signed an agreement with Abu Dhabi Ports Group to operate and develop the container terminal in Kuwait's Shuaiba Port under a concession. Kuwait's oldest harbor, Shuaiba, was established in?1960. According to KPA, it covers a total of 2.2 million sqare metres (543.63 acres), has 20 berths and a container terminal with a storage space of 318,000 sqare meters. The port is located 60 km (37 miles) south of the city and handles commercial cargoes, heavy equipment, raw material, and chemicals essential to many industries. KPA stated in a press release that the MoU is "the first preliminary step" towards concluding a contract of concession, but did not disclose the value.
Sources: Russia is weighing up how to support Russian Railways, which has a debt of $51 billion.
Two people familiar with the situation said that the Russian government is looking at different options to support Russian Railways. The company, the largest employer in the country, has accumulated a debt of 4 trillion roubles ($50.8 billion).
The state-owned Russian Railways employs 700,000 workers and has seen its revenues fall amid the sharp slowdown of Russia's wartime economy. Meanwhile, debt costs are on the rise, driven by interest rates that have reached their highest levels in 20 years.
Two people, who requested anonymity because the subject was sensitive, said that Moscow had been discussing ways to help the railways pay off its debt, which is mainly owed to banks of state.
Sources said that these include increasing the price of cargo, increasing subsidies, reducing taxes, or even using money from the National Wealth Fund.
One source said that Russian officials met in late November to discuss the current situation and will meet again in December. Requests for comments were not responded to by Russian Railways, Russian Government or the Transport Ministry.
There are some ideas that haven't been discussed yet at the level of government, such as capping interest rates for Russian Railways to 9% and converting debts into stakes. This would give state banks a piece of the company.
According to one source, a proposal would be to convert 400 billion Russian roubles in debt of Russian Railways into shares.
Sources portrayed the measures as a "save" Russian Railways. Russian Railways operates the third longest railway network in the world after the United States of America and China.
According to international standards, Russian Railways has reported revenues for 2024 of 3.3 trillion Russian roubles. Its expenditures are 2.8 trillion Russian roubles.
The company's financial statement for 2025 first half reported a net debt of 3.3 billion roubles at June 30. This included 1.8 trillion of short-term loans.
The debt grew by 0.7 trillion rubles in only half a calendar year.
Russian Railways has been a leading indicator of the health of the Russian economy for many years. It transports oil, passengers and cargoes from the Pacific Ocean to the Black Sea and Baltic Sea.
The state-dominated war-economy is a major challenge. Its struggles are a reflection of the challenges faced by too-big to fail companies that have debts with state-owned institutions. This leaves the state responsible for the debts at a time when Russia spends record amounts on its military, as the conflict in Ukraine enters its fourth year.
RUSSIA SLOWS
In the first two years of Vladimir Putin's presidency, from 2000 to 2008. Russia's GDP grew from $200 billion to $1.7 trillion. Currently, Russia's nominal GDP of $2.2 trillion, is about the same as it was in 2013, just before Russia annexed Crimea, and the economy will slow down sharply this coming year.
The International Monetary Fund, however, has reduced its forecast for 2025 to 0.6% from 0.9%.
The West claims it wants to cripple Russia’s economy in order to force the Kremlin into changing its course on Ukraine. However, Putin has stated that Russia will not bow to foreign pressure. Russian officials also claim the economy is secondary compared to the goals of the war.
Putin claims that the economy performed better than anyone could have expected, despite the thousands of Western sanctions. He also says that it has remained debt-free unlike many Western countries. Despite this, he has acknowledged that there are some issues with investments and the pain caused by high interest rates.
Sberbank's senior executive, who is the country's biggest lender, said that Russia's economy has been "continued cooling". Growth will be around 1% in next year, and business activity will remain weak for at least four or five quarters. $1 = 78.7500 Rubels (Additional reporting by Darya Korsunskaya and in Moscow; editing by Guy Faulconbridge, Tomaszjanowski).
(source: Reuters)