Latest News
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IndiGo, India's largest airline, estimates a payout of over $55 Million to its customers after flight cancellations
IndiGo, India's largest airline, estimated on Friday that it would pay out more than 55.19 million dollars to customers affected by its massive cancellations of flights last week. After the airline cancelled 4,500 flights due to poor roster planning last week, it left tens and thousands of passengers stranded. The civil aviation regulator then ordered that 10% of their domestic winter schedule be cut. In a message on X, the budget airline stated that it was identifying 'flights in which customers were severely impacted on December 3, 4, and 5. IndiGo said it would compensate passengers whose flights "were cancelled within 24 hours before departure time and/or customers who were severely stranded in certain airports." IndiGo was criticized for not planning for the new rest periods and duty rules. This resulted in planes being grounded and disrupting travel arrangements. In response to the reduction of its winter schedule, the 'Indian carrier cut its capacity forecast and passenger unit revenue for?the?third quarter on Wednesday.
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Southwest Airlines will open Austin crew base by 2026 and create 2,000 jobs
Southwest Airlines announced on Friday that it will open a "crew base" at Austin-Bergstrom International Airport in March 2026. This move is part of the carrier's efforts to expand into central Texas, which is experiencing rapid growth. The airline said that the majority of the new Austin base's staff would be made up of captains, flight attendants and first officers, supported by administrative and leadership teams. Southwest plans to also add a training facility that will be used for a regular basis by flight attendants as part of its broader business transformation. The carrier expects to open the Austin base in early March, with approximately 335 pilots and about 650 flight attendants. This number will grow to around 2,000 employees by mid-2027. The airline stated that the decision was made after months of planning and discussions with Austin city officials, Texas economic development leaders, and other stakeholders. It was to increase the airline's operational efficiency?and long-term growth in the state. Southwest said that it would also strengthen its partnerships with local workforce programs and the airport’s career center in order to support hiring for the new base. (Reporting and editing by Maju Sam; Apratim Sarkar)
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Venezuelan oil exports plunge sharply following US tanker seizure, as only Chevron vessels sail - data sources
According to documents, shipping data and maritime sources, Venezuelan oil exports are down sharply after the United States seizes a tanker this week. Only tankers chartered in the United States are allowed to enter international waters. Since Wednesday's seizure, oil major Chevron has sailed into international waters with Venezuelan crude. Chevron has a U.S. Government authorization is required to run joint ventures and export oil from the United States. According to sources and data, tankers with?about 11,000,000 barrels of fuel and oil are stuck in Venezuelan waters. Sources claim that some of the cargoes were on board tankers sanctioned by Washington as part of measures taken against Iran or Russia. The U.S. oversees these tanks and could take further punitive actions.
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Ukraine strikes Russian oil infrastructure on the Caspian Sea for a second time
An official of the Security Service of Ukraine said on Friday that two Russian oil rigs were struck by Ukrainian drones in the Caspian Sea. Sources claim that SBU drones attacked the Filanovsky oil rig and Korchagin oil platform, both of which belong to Russia's Lukoil. This week, the Filanovsky oil rig, which is part of Russia's biggest Caspian field was attacked. This was the first such attack in the war, as Ukraine intensifies its campaign to disrupt Russian oil production. Source: According to preliminary reports, drones damaged critical equipment and suspended production on both platforms. Could not verify the information immediately. Lukoil has been contacted for comment. The Caspian Sea lies more than 700 kilometers (435 miles), away from the nearest Ukrainian border. Kyiv conducted drone strikes against Russian oil facilities in an effort to undermine Moscow’s ability to fund its war?in Ukraine. The strike has targeted oil refineries in particular, with many located?in Europe? of Russia. Last month, Ukraine expanded its campaign by targeting tankers that transport Russian oil through the Black Sea. In the last two months, Ukrainian drones have hit three of these vessels. (Reporting and writing by Tom Balmforth; editing by Kirby Donovan).
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US House passes bill for fast-tracked natural gas pipeline permits
The U.S. House of Representatives voted on Friday 213-184 in favor of a bill aimed at?accelerating federal permitting of interstate gas pipelines, by?designating?the Federal Energy Regulatory Commission?as?the leading?agency?. The Improving Interagency Coordination for Pipeline Reviews Act allows the agency to consider water quality assessments as part of its environmental review instead waiting for state certifications under the Clean Water Act, which delays the permitting process. This bill is one of many pieces of legislation that are aimed at speeding permitting up in the?Congress. Bipartisan support was also given to another bill, Promoting Efficient Reviews for Modern Infrastructure Today. Why it's important The upcoming?year will see the?Congress prioritize the passage of broad permitting reform legislation to help build the energy infrastructure required to meet the growing demand for power from data centers, and lower the rising costs for household energy. FERC has traditionally had five members of the panel who are appointed by the president and confirmed by Senate. It has been approving most of the "natural gas pipeline" decisions for years. KEY QUOTE In a press release, American Petroleum Institute President Mike Sommers stated that "These bills will help unlock the infrastructure America requires to meet the growing demand for reliable and affordable energy." What's Next? The Senate is pursuing a separate reform of energy permitting that would go beyond the bills passed by the House. The Senate is focused on reforming the National Environmental Policy Act (the bedrock environmental law) for projects such as upgrading electric transmission lines. (Reporting and editing by Paul Simao; Valerie Volcovici)
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US threatens New York State with a withdrawal of highway funding over the issue of non-citizen licenses for truck drivers
U.S. Transportation Department threatened on Friday to 'pull $73million in funding from New York State over commercial driver licences improperly issued?to non U.S. citizens. This is the latest of a series Trump administration 'threats?aimed at Democratic run states. After a federal audit, the department warned that New York State must act within 30 days to address concerns regarding immigrant truckers or risk losing federal highway funding. In September, the agency issued an emergency rule to severely restrict commercial drivers licenses for immigrants and non-U.S. Citizens after a fatal crash in Florida. U.S. Secretary Marco Rubio announced in August that the U.S. would immediately suspend the issuance all commercial truck driver worker visas. Sean Duffy, Transportation Secretary, said that if we want drivers on American roads, they must be well-trained and skilled. If operated incorrectly, or in an inappropriate manner, these vehicles can become lethal weapons. Duffy's Department announced on December 1 that it could withhold federal highway funding of up to $30,4 million from Minnesota due to improperly issued commercial driver's licenses. Separately the department has removed nearly 3,000 commercial license training providers from government registry because they failed to properly equip trainees in early December. Another 4,000 are on notice of potential noncompliance. The Department of Transportation on Tuesday threatened withholding transit funding from Chicago trains and buses, and demanded increased police protection. Citing an incident where a 26-year old woman passenger was beaten and set ablaze last month, the department also called for more police security. The department has sent similar letters in the past to express concerns over transit problems in New York City, Boston and other cities. Chicago is also heavily Democratic, as are the other two cities. Donald Trump has threatened to cut funding for cities that are run by Democrats. This includes major infrastructure projects in Chicago and New York. The U.S. Transportation Department said in October that it would pull $160 million from California due to the issue. In November, California agreed to revoke the commercial driver's licenses of 17,000 foreigners that the Department said were issued improperly. In October, the department withheld $40,6 million of federal transportation funding for California because it failed to comply with rules governing truck driver English proficiency. In 2023, it said that approximately 16% of U.S. drivers were born abroad. (Reporting and editing by Paul Simao in Washington, with David Shepardson reporting from Washington)
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US Transportation chief assures safety of DC air traffic
By David Shepardson WASHINGTON DEC 12 - U.S. Transport Secretary Sean Duffy announced on Friday that he would not allow military helicopters or commercial passenger planes?to come?into close proximity near Reagan Washington National Airport. This is despite a bill before Congress which some critics claim could cause unsafe traffic. The crash of an Army Black Hawk on January 29, near Reagan, between an American Airlines passenger plane and an Army Black Hawk killed 67 people. It also raised concerns about aviation safety. We will not allow fixed-wing or helicopter traffic to cross that airspace. Duffy told a press briefing that it was not going to occur. He added that department lawyers were studying the language, but said safety measures would remain in place. "We are in control of the civil airspace... we will drive safety no matter what." On Thursday, the lawmakers called for the strengthening of military helicopter safety regulations proposed in an annual Defense Bill. SAFETY REFORMS ARE PROPOSED Senate Commerce - Committee Chair Ted Cruz and Maria Cantwell (top Democrat on the panel) filed an amendment to remove the'military helicopter' language from the defense bill, and replace it with tougher requirements that were approved by the committee back in October. The Cruz-Cantwell bill would require aircraft operators by the end of 2031 to equip their fleets with an automatic dependent surveillance-broadcast system, also known as ADS-B. Advanced tracking technology allows aircrafts to broadcast their exact position, altitude and velocity. Duffy expressed his support for reform in July. The Cruz-Cantwell Bill also proposes safety reforms including an increase in oversight of jet and helicopter traffic and flight routes close to commercial airports. The Army Black Hawk helicopter that crashed was not broadcasting ADS-B and flew 'above the maximum altitude level at the time. The Federal Aviation Administration banned the Army from flying helicopters around the Pentagon after a near-miss in May. The bill specifies that U.S. Military helicopters in training missions must broadcast alerts for nearby commercial aircraft. However, it does not specify what type of alerts are required. The Defense Department may be able to waive this requirement after a thorough risk assessment has been conducted and the risks to commercial aircraft have been addressed. Jennifer Homendy, Chair of the National Transportation Safety Board, called the Defense Bill helicopter proposal an "inacceptable risk for the flying public."
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The PM of Peru has said that the government will no longer fund Petroperu's deficit,
Ernesto Alvarez, the Prime Minister of Peru, said that his government would not continue to fund?Petroperu. He called it a "deficit ridden company". In a press conference, the cabinet chief revealed that the interim government of President Jose Jeri was preparing a proposal which would be presented to 'the next administration' to decide "what to do" with Petroperu. Alvarez said that this proposal will'seek to ensure that the investment made by Petroperu in Talara refinery with a processing capacity of 95,000 bpd does not go to waste. He said the goal was to "ensure the company does not become a burden on the government." Jeri’s administration has been trying to improve Petroperu’s management and finances in recent months. In October, his administration dismissed the chairman.
Fraport anticipates significant decline in net earnings by 2026, first dividend since 2019.
Fraport, a German airport operator, said that it expected a "significant" decline in its net earnings by 2026.
It said that this was due to a higher depreciation amounting to approximately 140 million euros ($164 millions) as well as higher interest expenses of about 90 million euros.
It expects to have a positive free cash flow in 2026 and will pay a dividend of 1 euro per share.
This would be the first dividend paid by the company after the outbreak of the COVID-19 Pandemic.
In November,
It would most likely meet its?requirements, including ending cash outflows from investments in its airports around world.
(source: Reuters)