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IAG's Iberia has resumed Venezuela service with four flights per week
Iberia, the Spanish flag carrier, is a part of the 'International Consolidated Airlines Group. (IAG). They have resumed flights between Madrid and Caracas after a suspension in November when tensions between Venezuela and the United States escalated. On Tuesday, a company spokesperson stated that the airline would be operating four flights per week. This is one less than it was before the suspension. Spanish carriers 'Air Europa' and 'Plus Ultra" resumed flights from Spain to Venezuela in February and March, respectively. Iberia was among the airlines to halt flights into and out of the country following a warning from the U.S. Federal Aviation Administration that civil aviation could be in a "potentially dangerous situation" due to increased military?and politic risks. Washington began to work to reopen Venezuelan airspace and remove restrictions on international airlines following the U.S. operation in which Venezuelan president Nicolas Maduro, who was captured by U.S. forces on January 3rd and transferred to New York for drug trafficking charges.
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Gunfight near Israeli consulate reminds Turkey of past militant attacks
According to witnesses and authorities, an attacker was killed during a gunfight with police outside of the building housing the Israeli Consulate in Istanbul on Tuesday. Here is a list with the major terrorist attacks that have occurred in Turkey over the past few years. December 29, 2025: Three Turkish police officers were killed and six Islamic State militants in Yalova, northwest Turkey. A 16-year old was arrested on September 8, 2025, for the murder of two police officers during a shooting attack at a police station located in Izmir in western Turkey. On October 24, 2024, two gunmen shot and killed five people at the largest Turkish aerospace company TUSAS. The attack was blamed by authorities on the militant Kurdistan Workers' Party. On January 28, 2024, two masked gunmen kill one person at a church in Istanbul. The Islamic State was linked to suspects captured. October 1, 2023: Two attackers detonated an explosive device outside Turkish government offices in Ankara. They killed themselves and injured two police officers. The PKK claimed responsibility. November 13, 2022: A blast in a busy Istanbul street killed six people and injured 81. Ankara blamed a Syrian Kurdish YPG milita, which they consider a PKK affiliate. Both groups denied any involvement. On January 5, 2017, a car bomb in Izmir caused the death of a policeman and an employee at a courthouse. Authorities claimed that PKK members are responsible. December 31, 2016 –?Islamic State claimed the responsibility for a mass shooting that took place in an Istanbul nightclub on New Year's Eve, killing 39 people. A car bomb in Kayseri killed 13 soldiers on December 17, 2016. A PKK offshoot claimed responsibility. On December 10, 2016, twin bombings took place outside a soccer stadium in Istanbul, killing 44 people. Most of them were police officers. The Kurdistan Freedom Hawks, a PKK-affiliated group, claimed responsibility. At least 11 people were killed in an attack by a suicide truck at a police HQ in the southeast of Turkey on August 26, 2016. PKK claimed responsibility. A suicide bomber killed at least 51 people in a suicide attack on a wedding celebration in Gaziantep. Tayyip Erdoan said that the attacker was linked to Islamic State. On June 28, 2016, a triple suicide attack and gun assault at Istanbul's airport main killed 45 people and injured over 160. The attackers, who are believed to have links to the Islamic State, were given life sentences. On March 19, 2016, a suicide?bomber in Istanbul killed four people, including two Israelis with dual citizenship and one Iranian. The alleged perpetrator was a Turkish member of the?Islamic State. On March 13, 2016, a car bomb-laden exploded in a busy transport hub of Ankara. 37 people were killed. TAK claimed responsibility. On February 17, 2016, a car bomb near military buses in Ankara killed 28 people and injured dozens. TAK claimed ?responsibility. On January 12, 2016, a suicide bomber in Istanbul's historical centre killed at least ten people, most of them German tourists. Authorities blamed Islamic State for the attack. On October 10, 2015,?Twin explosions near Ankara's main railway station killed more than 100 people. Turkish courts have sentenced perpetrators linked to the?Islamic State to life imprisonment. PKK militants have killed 15 policemen in eastern provinces Mardin and Igdir on September 8, 2015. On July 20, 2015, an Islamic State suicide bomber in Suruc, near the Syrian border, killed more than 30 people, mostly students. Canan Sevgili, Daren Butler, and Ros Russell edited the report.
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Fuel costs are increasing, so airlines are reducing their prices and cutting back on their outlook.
The U.S. and Israeli war against Iran, which has pushed up jet fuel prices, has shook the aviation industry around the world. Airlines have been forced to increase fares and adjust their financial forecasts. In recent weeks, jet fuel prices soared to $150-$200 per barrel from $85 to $90. This is a major financial blow to an industry that relies on fuel for a quarter or more of its operating costs. The list below is arranged alphabetically. AEGEAN AIRLINES The Greek airline anticipates that the suspension of Middle East flights, as well as a spike in fuel costs, will have "a significant impact" on their first-quarter earnings. AIRASIA X Executives from the Malaysian airline said that the company has cut 10% of its flights in the group, and imposed a fuel surcharge of around 20%. AIR FRANCE-KLM The airline group announced that it would be increasing long-haul ticket prices to combat rising fuel costs. Cabin fares will increase by 50 euros ($57). AIR INDIA The Indian flag carrier announced that it would change its fuel surcharge system from a flat surcharge for domestic routes to a grid based on distance, because fuel surcharges applied to international routes didn't compensate for the steep rise in jet fuel costs. AIR NEW ZEALAND On April 7, the airline announced that it would cut flights in May and June, and raise fares. It was among the first airlines to announce a large increase in ticket prices after the conflict erupted. The airline also suspended its earnings forecast for the full year due to volatility in the fuel markets. AKASA AIR Akasa Airlines, based in India, announced that it would be introducing fuel surcharges ranging from 199 to 1,300 Indian Rupees ($2 - $14) for domestic and international flights. AMERICAN AIRLINES Fuel prices are expected to increase by $400 million in the first quarter, according to the U.S. airline. CATHAY PACIFIC Hong Kong Airlines announced that it will increase its fuel surcharges by 34% on all routes starting April 1, and to review them every 2 weeks. The CEO of the carrier said that it would maintain its flight capacity despite high fuel costs, but warned that its 10% growth plan for passenger capacity could be altered if demand declines because of high fuel prices. CEBU AIR The Philippines-based carrier said that the sharp increase in fuel prices is a major concern. It will continue to review pricing and network strategies and try to minimize the impact. CHINA EASTERN EXPRESS AIRLINES Air China said that it would increase fuel surcharges on domestic flights starting April 5. Flights?of less than 800km will be charged a surcharge of 60 yuan, and flights above 800km will be charged a surcharge of 120 yuan. EASYJET EasyJet CEO Kentonjarvis says European consumers can expect to pay higher ticket prices at the end of the summer when fuel hedges end. FRONTIER AÉRIENS Fuel prices have increased dramatically since the airline's last forecast. GREATER BAY Airlines The Hong Kong based company announced that it will increase fuel surcharges for most routes on April 1, but keep charges the same on routes to mainland China and Japan. The?carrier's surcharge on flights between Hong Kong, Philippines and other Asian countries will double. HONG KONG Airlines The airline announced that it would increase fuel surcharges up to 35% starting March 12. The biggest increases would be on flights between Hong Kong, the Maldives and Bangladesh, and Nepal where the charges would go from HK$284 to HK$384 (49 dollars). British Airways' owner IAG stated on March 10, that it does not intend to increase ticket price immediately as it has hedged a large amount of fuel in the short to medium term. INDIGO India's largest airline announced that it will introduce fuel charges for domestic and international flights starting March 14. The charge for flights into the Middle East is 900 rupees and for flights into Europe, 2,300 rupees. Sources say that the company also lobbys for the Indian government to reduce fuel taxes. JETBLUE AERWAYS As a result of "increasing operating costs", the low-cost airline based in America has increased fees for optional services, such as checked luggage. The company announced that baggage prices would increase by $4 or $9. KOREAN AIR A source familiar with the matter said that South Korea's flag carrier would enter emergency mode in April as rising oil costs weigh on its cost structure. The airline will implement phased responses based on the oil price levels and increase company-wide efficiency to offset rising fuel costs. PAKISTAN INTERNATIONAL FLIGHTS Fuel surcharges are cited as the reason for raising domestic flight prices by $20, and international flight rates by up to $100. Scandinavian Airlines announced that it would cancel 1000 flights in April due to high fuel and oil prices. In March, the airline said that it had cancelled "a couple of hundred" flights. SAS, which has already raised flight prices, stated that the surge in fuel prices would be a major blow to the aviation sector, even if they tried to absorb it. SPRING AIRLINES Budget Chinese airline announced that it will increase fuel surcharges for domestic flights starting April 5, details to follow. THAI AIRWAYS The Thailand-based airline said that it would increase fares between 10% and 15% in order to combat rising fuel prices. TURKISH AIRLINES LUFTHANSA SunExpress, the joint venture between Turkish Airlines, Lufthansa and Lufthansa announced that it would begin imposing a temporary fuel charge of 10 euros per passenger on routes between Turkey, Europe and Africa, starting May 1. The fuel surcharge will apply to all bookings made after April 1, for departures after May 1. UNITED AIRLINES Scott Kirby, CEO of the U.S. Airline, said that the airline will cut unprofitable flights in the next two quarters to prepare for the oil price to remain above $100 by the end 2027. Andrew Nocella, United's Chief Commercial Officer, said that the company was able to increase fares in response to a rapid rise in jet fuel and oil prices. In an email to customers, the carrier announced that it would also increase first and second checked baggage fees by $10. This applies to all travelers in North America, Mexico, Canada, and Latin America. VIETJET Vietnamese budget airline?said that it had reduced flight frequencies on certain routes due to possible fuel shortages. VIETNAM Airline Vietnam's Aviation Authority announced that the carrier will cancel 23 flights a week on domestic routes starting in April after it requested assistance from the government to remove an environment tax on jet fuel. VIRGIN AUSTRALIA Virgin Australia announced that it would be adjusting its fares in order to reflect the rising costs across the aviation industry, which were being exacerbated significantly by the Middle East situation. WESTJET Canadian Press reported that the airline would add a fuel surcharge of C$60 ($43.14 USD) to certain bookings, and also combine flights due to rising costs.
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Fuel costs are increasing, so airlines are reducing their prices and cutting back on their outlook.
The U.S. and Israeli war against Iran, which has pushed up jet fuel prices, has shook the aviation industry around the world. Airlines have been forced to increase fares and revise their financial forecasts. According to the International Aviation Transport Association (IATA), jet fuel prices have risen to $209 per barrel worldwide, from an average of $85-$90 per barrel before U.S. and Israeli attacks on Iran began in February. Here is an alphabetical list of the ways airlines are responding to this issue: AEGEAN AIRLINES The Greek airline anticipates that the suspension of Middle East flights, as well as a spike in fuel costs will have "a significant impact" on its first-quarter results. AIR FRANCE-KLM Cabin fares will increase by 57 euros ($50) per round-trip. The airline group plans to raise long-haul ticket prices to offset rising fuel costs. AIR NEW ZEALAND On March 10, the airline was among the first to announce a large increase in ticket prices. The airline also suspended its earnings projections for the full year due to volatile fuel markets. AKASA AIR Akasa Airlines, based in India, announced that it would be introducing fuel surcharges ranging from 199 to 1,300 Indian Rupees ($2 - $14) for domestic and international flights. AMERICAN AIRLINES Fuel prices are on the rise, and American Airlines expects to incur $400 million more in expenses for the first quarter. CATHAY PACIFIC Hong Kong Airlines announced that it will increase its fuel surcharges by 34% on all routes starting April 1, and to review them every 2 weeks. The CEO of the carrier said that it would maintain its flight capacity despite high fuel costs, but warned that its 10% growth plan for passenger capacity could be altered if demand drops due to high prices. CEBU AIR The Philippines-based carrier said that the sharp rise in fuel prices is a major concern. It will continue to review pricing and network strategies and try to minimize the impact. DELTA AIR LINES The U.S. carrier announced that it would increase fees for checked baggage on domestic and selected short-haul routes by $10 on the first and second bags. It added that the cost of a 3rd bag would increase by $50. EASYJET EasyJet CEO Kentonjarvis says European consumers can expect to pay higher ticket prices at the end of summer when fuel hedges end. FRONTIER AÉRIENS Fuel prices have increased dramatically since the airline's last forecast. HONG KONG Airlines The airline announced that it would increase fuel surcharges up to 35% starting March 12. The biggest increases would be on flights between Hong Kong, Bangladesh, and Nepal where the charges would go from HK$284 to HK$384 (US$49). British Airways' owner IAG stated on March 10 that it does not intend to increase ticket price immediately as it has hedged a large amount of fuel in the short to medium term. INDIGO India's largest airline announced that it will introduce fuel charges for domestic and international flights starting?March 14. The charge for flights into the Middle East is 900 rupees and for flights in Europe, 2,300 rupees. Sources say that the company also lobbys for India to reduce fuel taxes. JETBLUE AERWAYS Low cost airline based in the United States has announced that it will increase fees for optional services, such as checked luggage, due to "rising operating expenses." The company announced that baggage prices would increase by $4 or $9. KOREAN AIR A source familiar with the situation said that South Korea's flag carrier would enter emergency mode in April as rising oil costs weigh on its costs. The airline will implement phased responses based on the oil price level and increase company-wide efficiency to offset rising fuel costs. PAKISTAN INTERNATIONAL FLIGHTS Fuel surcharges are cited as the reason for raising domestic flight prices by $20, and international flights by up to $100. Scandinavian Airlines announced that it would cancel 1000 flights in April due to high jet fuel and oil prices. It said that it cancelled "a couple hundred" flights in March. SAS, which has already raised flight prices, stated that the surge in fuel costs would be a major blow to the aviation sector, even if they tried to absorb them. SPRING AIRLINES Budget Chinese airline announced that it will increase fuel surcharges for domestic flights starting April 5. Details to be announced in due course. THAI AIRWAYS The Thailand-based airline said that it would raise fares between 10% and 15% in order to combat rising fuel prices. TURKISH AIRLINES LUFTHANSA SunExpress, the joint venture between Turkish Airlines, Lufthansa and Lufthansa announced that it would begin imposing a temporary fuel charge of 10 euros ($11.46), per passenger, on routes between Turkey, and Europe, starting May 1. The fuel surcharge will be applied to all bookings made after April 1, for departures after May 1. UNITED AIRLINES Scott Kirby, CEO of the U.S. carrier, said that the airline will cut unprofitable flights in the next two quarters to prepare for the oil price remaining above $100 by the end 2027. Andrew Nocella, United's Chief Commercial Officer, said that the company was able to increase fares in response to a rapid rise in jet fuel and oil prices. In an email, the carrier said that it would also be increasing the first and second checked bag fees for customers travelling to the U.S. and Mexico, Canada, and Latin America by $10. VIETJET A potential fuel shortage has led to the Vietnamese budget airline reducing flight frequencies on certain routes. VIETNAM Airline Vietnam's Aviation Authority announced that the carrier will cancel 23 flights per day on domestic routes starting in April, after it requested assistance from the government to remove an environmental tax on jetfuel. VIRGIN AUSTRALIA Virgin Australia announced that it would be adjusting its fares in order to reflect the rising costs across the aviation industry, which were exacerbated by the Middle East situation. GREATER BAY Airlines Greater Bay Airlines, based in Hong Kong, said that it would increase fuel surcharges for most routes starting April 1, due to increased fuel prices related to the Iran War. However, charges on routes to mainland China and Japan will remain unchanged. The carrier has announced that the surcharge on flights between Hong Kong, Philippines and other destinations will be more than doubled.
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Delta Air increases checked baggage fees due to rising jet fuel prices
Delta Air Lines announced on Tuesday that it would increase the fees for checked baggage on select domestic and international short-haul routes. The airline is trying to offset soaring jet fuel costs linked to escalating Middle East tensions. This is the first time Delta has increased its domestic baggage fees for two years. JetBlue Airways and United Airlines have also taken similar steps. After tensions in the Middle East caused the Strait of Hormuz to be disrupted, airlines worldwide are struggling with dramatically?higher fuel costs, which have pushed up operating costs, and squeezed margins. According to the International Air Transport Association, jet fuel has risen to $209 per barrel worldwide. It had been averaging $85-$90 per barrel prior to the U.S./Israeli strike on Iran last February. Delta has announced that the fees for the first and second bags checked on any bookings made after Wednesday, will go up by $10. The third bag checked will cost $50. The fee for the first bag to be checked will now increase to $45; the second bag to $55; and the third to $200. Delta has a buffer in the form of a Pennsylvania-based refinery owned by a subsidiary with a daily capacity of approximately 190,000 barrels. This refinery supplies about three quarters of Delta's fuel needs. The benefits of checked baggage that are tied to Delta's frequent flyer program, co-branded credit cards and premium fares will not change. Delta has also confirmed that there will be no change to the baggage fee on international long-haul routes. (Reporting and editing by Vijay Kishore in Bengaluru, with Shivansh Tiwary reporting from Bengaluru)
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Sources say that the Sheskharis terminal in Russia's Black Sea halted loadings following a drone attack.
Two sources with knowledge of the situation said that the?crude oil exports from the?Russian Sheskharis terminal in the Black Sea Port of Novorossiysk had been suspended following a massive drone strike and an fire. The Black Sea's main oil outlet is the terminal that?loads approximately 700,000 barrels of crude per day. The suspension of the terminal will increase the strain on Russian infrastructure that has been repeatedly targeted. Sources in the industry say that Russia's main Baltic Ust-Luga Port's oil 'exports' have been suspended since last Monday 'after heavy drone attacks 'and fires. Sources say that Russia is likely to be forced to reduce its production as storage and supplies fill up, especially when the international demand for Middle Eastern crude oil is high. It could also be doing this to maximize the benefits to its economy from a spike in oil prices caused by the Iran War. Due to the sensitive nature of the situation, the two sources who are familiar with the situation cannot be named. The port has not yet estimated the extent of the damages, they said. A Black Sea Terminal attack early in March caused the suspension of loadings for five days. Novorossiysk Port loads Russian Urals, Kazakh KEBCO oil and sweet Siberian Light crude. Barbara Lewis (Reporting and editing)
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As the Middle East conflict escalates, airlines cancel more flights
The global air travel industry is still severely affected by the Iran 'war,' with many people unable to reach their destinations as planned after major Middle Eastern hubs such as Dubai, Doha, and Abu Dhabi were closed. Here are the latest flight information in alphabetical order. AEGEAN AIRLINES The largest airline in Greece has cancelled flights from Tel Aviv to Beirut and Tel Aviv to Amman. Flights to Riyadh, Amman and Riyadh were also cancelled until June 27, and flights to Tel Aviv to Amman until 26 June. The airline has cancelled flights to Erbil, Baghdad and Dubai until June 29, and Erbil and Baghdad up until July 2. AIRBALTIC AirBaltic, a Latvian airline, has announced that flights to Tel Aviv are cancelled until May 31. Dubai flights are cancelled through October 24. AIR CANADA The Canadian carrier has canceled flights to Tel Aviv, Dubai and Abu Dhabi until September 7. AIR EUROPA Spanish Airlines has cancelled all flights to Tel Aviv till May 3. AIR FRANCE-KLM Air France has suspended Tel Aviv flights to Beirut, Dubai, and Riyadh until April 19. KLM has suspended its flights to Tel Aviv and Riyadh until May 17. CATHAY PACIFIC Hong Kong Airlines has cancelled all flights to Dubai and Riyadh up until May 31. In April, the airline will increase its passenger flights from London to Paris to Zurich to meet the increased demand for travel to Europe. The U.S. carrier cancelled all New York-Tel Aviv flight and has delayed the start of its Atlanta-Tel Aviv routes until September 5. The launch of the Boston-Tel Aviv flight, originally scheduled for late October, was delayed. EL AL ISRAEL AIRLINES Customers who had planned to leave Israel by April 18, 2018, have been informed that their flights, including the return flight, will be cancelled. The airline operates a limited number flights to key destinations. EMIRATES After a partial opening of the regional airspace, Emirates Airlines has announced a reduced schedule. ETIHAD AERWAYS The UAE carrier has announced that it operates a commercial flight schedule from Abu Dhabi to around 80 destinations. FINNAIR The airline has cancelled all flights to Doha until July 2 and continues to avoid the airspaces of Iraq, Iran Syria, and Israel. Dubai flights will only be resumed in October. FLYNAS Saudi budget airline suspends flights to Dubai, Abu Dhabi Sharjah Doha, Bahrain Kuwait Iraq and Syria. British Airways, owned by IAG, has extended the cancellation of flights to Amman and Bahrain until May 31 and Doha until April 30. They have also added flights to Bangkok, Singapore, and Maldives. In May, a third daily flight will operate between London and Mumbai. Flights to Abu Dhabi are suspended until the end of this year. Iberia Express is IAG's low cost airline. All flights between Tel Aviv and Tel Aviv have been cancelled until May 31. JAPAN AIRLINES Japan Airlines suspends scheduled Doha-Tokyo and Tokyo-Doha flight schedules until May 10. Japan Airlines has also announced that it will be adding extra flights between Tokyo, London and Doha until May 11. KUWAIT AIRWAYS Starting April 5, the airline will resume its flights from Dammam to India. The Polish airline has suspended flights to Tel Aviv till May 31. The airline also cancelled flights from March 31 until May 30 to Beirut and Riyadh. The airline will operate its winter route from Dubai to October. LUFTHANSA GROUP Lufthansa and Swiss Airlines suspended flights from Dubai and Tel Aviv to Abu Dhabi until May 31. They also suspended flights to Amman, Beirut Dammam, Riyadh Erbil Muscat and Tehran to October 24. Lufthansa Cargo will remain the same except for Tel Aviv, which is suspended until April 30. Eurowings, the low-cost carrier, plans to suspend its flights to Tel Aviv and Erbil until April 30, and to Dubai, Abu Dhabi, and Amman until October 24. MALAYSIA AIRLINE Malaysian Airlines has suspended all flights to Doha through June 14. NORWEGIAN AIR Low-cost airline 'has delayed planned launches of Tel aviv and Beirut service to June 15 The airline cancelled Dubai flights until April 8 for the rest of the winter. PEGASUS Pegasus Airlines, Turkey's national airline, has cancelled all flights to Iran, Iraq, Amman Beirut, Kuwait Bahrain Doha Dammam Riyadh Dubai Abu Dhabi Sharjah and Abu Dhabi until May 1. ROYAL MAROC Moroccan airline?says that flights to Doha and Dubai have been cancelled until June 30, while flights to Doha will be cancelled until May 31, QANTAS Australia's national carrier has added flights to Rome, Paris and London to respond to a surge in demand on European routes. The number of flights to Paris will be increased from three to five weekly return flights, and the Perth to Singapore service will go from daily to ten flights per week. A new schedule will be implemented gradually for flights starting in mid-April. It will run until late July. QATAR AIRWAYS The airline said that it will gradually increase flights to Doha from 120 destinations by mid-May. SINGAPORE Airlines In response to increased demand, the carrier has extended the suspension of Singapore-Dubai flights until May 31. It also added services on Singapore-London Gatwick (late March) and Singapore-Melbourne (late March-October 24). TURKISH AIRLINES SunExpress, a joint venture between Turkish Airlines and Lufthansa that operates flights to Dubai, has cancelled all flights until 30 April. WIZZ AIR Low-cost airlines have suspended flights from Europe to Israel, Dubai, Abu Dhabi, and Amman until the middle of September. All flights to Medina are suspended permanently. (Compiled by Josephine Mason and Jamie Freed. Elviira Louma, Tiago Branao, Agnieszka Olesnska, Bernadette HOG, Boleslaw LaSocki, Romolo Tosiani, and Bernadette Hogg. Sumana Nady, Joe Bavier, and Mark Potter edited the book.
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French high-speed trains collide with military trucks, killing the train driver
Separate statements from the local railway operator and prefecture said that a 'high-speed' train in France collided with a truck transporting military equipment near Calais on Tuesday morning, killing the driver. The?prefecture also reported that 16 people were injured, and two of them were in a critical condition. The?prefecture said that more than 200 passengers were aboard the train at the moment of the accident. Around 7 a.m. (0500 GMT), near the town Bully-les-Mines in northern France, a high-speed rail travelling from Dunkirk towards Paris collided with a truck that was?carrying a military vehicle, according to a statement released by railway operator SNCF. SNCF'said that traffic was 'interrupted and disruption is expected until the end of the day. Reporting by Inti Landauro, Sophie Louet and Tomaszjanowski; editing by Sudipkar-Gupta & Tomaszjanowski
India's Adani Ports increases its annual earnings forecast and expects Australia terminal to boost
India's Adani Ports and Special Economic Zone raised its ?annual core earnings forecast on Tuesday, driven by a higher-than-anticipated growth ?and the acquisition of an export terminal in Australia. This and?U.S. The stock of the company soared by up to 9.54% after President Donald Trump announced a reduction in tariffs on Indian products, boosting the markets.
The company, which is part of the billionaire Gautam adani-led group has raised its upper limit of core?earnings for the fiscal year that ends March 2026 to 228 billion Indian rupees (US$2.53 billion). Ankita Shah said that the revenue growth was in line with their estimates and the strong growth across the portfolio of businesses confirmed the ability to reach all the long-term goals for the company. Adani Ports is India's biggest private port operator by volume. Its consolidated?net profits rose by nearly 21%, to 30.54 billion rupees (US$338.02 millions) for the quarter ending December 31. This was due to strong volume growth.
Ashwani Gupta, the CEO of the company, said that the "sustained" momentum across the four business units and the consolidation of Australia's North Queensland Export Terminal NQXT enabled the firm to increase its EBITDA projection for fiscal year 2026.
Adani completed its acquisition of NQXT in December. This is a multi-user natural deepwater export terminal that has a capacity of 50,000,000 tons per year.
Sreedhar Krishna Menon, a group insider, was also appointed as its new Chief Financial Officer. The company announced that he replaces D. Muthukumaran who has held this role since 2022.
Revenue from operations increased by nearly 22% on an annual basis to 97.05 trillion rupees. This was largely due to an increase of 9% in cargo volume.
JSW Infrastructure, a smaller competitor, also reported a 14% increase in its third-quarter profits last month. Adani Enterprises, the parent company of Adani, also announced a higher profit for its third quarter on Tuesday. Gains in its renewable energy and airport businesses were offset by weak demand in Adani's core coal trading segment.
(source: Reuters)