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US Transportation Secretary sees space for airline mergers
?U.S. Sean Duffy, Transportation Secretary for the United States, said that he believes there is still room for consolidation within the airline industry. Sean Duffy, Transportation Secretary, said on Tuesday that he believes there is room for consolidation in the?U.S. Duffy stated on CNBC that if there were a merger of some of the bigger airlines, some of their assets would need to be separated. "I will not pre-commit to anything." The sharply increased jet fuel prices in the U.S. and Israeli war against Iran have?fed rumors that a new round could be of consolidation within the U.S. airline industry. Duffy said that any deal would require the approval of Donald Trump, USDOT, and the Justice Department. "Who will match up ?...? Does the aviation industry have room for mergers? Duffy acknowledged that "there has been a lot said" about possible deals. Since the 1970s, antitrust regulators have approved a series mergers which has resulted in four U.S. airlines controlling about 80% of domestic passenger traffic. American Airlines, Delta Air Lines United Airlines and Southwest Airlines. JetBlue canceled its $3.8 billion merger with Spirit Airlines in 2024 after an American judge blocked the deal over anti-competition concerns. JetBlue announced last year a partnership that allows travelers to earn and use frequent flyer points on both carriers websites. Former President Joe Biden’s Departments of Justice and Transportation launched a public inquiry in 2024 into the competition?in air travel. Biden's administration has taken a strong stance against consolidation in the airline industry. (Reporting and editing by Chris Reese, David Gregorio).
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Sources say that local suppliers have prevented jet fuel shortages at four Italian airports
Three sources said that local suppliers had stepped up to solve a temporary 'jet fuel shortage' at four Italian airports. This was in response to a sharp increase in jet fuel prices since the start of the U.S.-Israel war against Iran. Last week, the airports in Milan, Venice, Treviso, and Bologna alerted airlines about limited jet fuel supply from British company Air BP between April 2 and 9 according to advisories that were exchanged and seen by. Sources with knowledge of the situation said that alternative suppliers had filled the gap temporarily. They added that the problem affecting Air BP was due to a late cargo. The cause of the delay and where the cargo came from was not immediately clear. BP refused to comment. According to S&P Global, Europe imported more than half its jet fuel last year from the Middle East. The four airports have confirmed to? All four airports confirmed to? The SAVE Group has confirmed that the fuel supply is under control. There are no "critical issues" affecting supplies or flight operations, according to a recent statement from the operator of Venice airport and Treviso. SAVE has said that it can rely on multiple jet-fuel suppliers and has ruled out any supply problems for the short term. Corriere della Sera was the first to report jet fuel problems at four Italian airports. Reporting by Francesca Landini, London; additional reporting by Stephanie Kelly, Milan; editing by Giselda Vasgnoni
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China and Russia reject UN resolution protecting Hormuz shipping
China and Russia have vetoed the U.N. Resolution encouraging states to coordinate their efforts to 'protect commercial shipping along the Strait of Hormuz. The U.S. Ambassador to the world body has called for "responsible countries" to join with the U.S. to secure this vital waterway. The Security Council, which consists of 15 members, voted in favor of the Bahraini resolution with 11 votes. China and Russia were against and there were two abstentions. Donald Trump, the U.S. president, warned that "a whole civilisation will die tonight", if Iran did not accept his ultimatum by Tuesday evening (Washington time). The oil prices have risen since the U.S. & Israel attacked Iran at the end February. This has led to a conflict which?has lasted for more than 5 weeks, while Tehran has closed the Strait of Hormuz that used to be the route of about a fifth?of?global liquefied gas and oil. Bahrain's Abdullatif Bin Rashid Al Zayani, Bahrain's foreign minister, said that the draft resolution was not adopted due to a negative vote from a permanent council member. U.S. AMBASSADOR CONDEMNS VETOES Mike Waltz, the U.S. Ambassador to the United Nations condemned the Russian and Chinese Vetoes. He said that they marked "a new level" of repression, as the Iranian closure of the Strait prevented medical aid from reaching the humanitarian crises in Gaza, Sudan, and the Congo. No one should tolerate this. They are holding global economic growth at gunpoint. Today, Russia and China tolerated it. "They sided with a government that is brutalizing its own citizens while trying to intimidate the Gulf. Waltz stated that Iran could "reopen the Strait to seek peace, and make amends." He said: "But before then, we ask responsible nations to join in protecting the Strait of Hormuz and securing it for?lawful trade, humanitarian goods and free movement of goods around the world." France regretted the vetoes. Jerome Bonnafont, its ambassador to the United Nations, said that the goal was to "encourage strict and purely defensive actions to ensure the safety and security of the Strait" without spiraling into escalation. China and Russia exercised their'vetoes, despite the fact that Bahrain significantly weakened its draft when China refused to authorize force. The draft that was put to a vote did not include any authorization for the use of force. A reference to binding enforcement that was included in an older draft has also been removed. The?text instead strongly encouraged States to "coordinate efforts defensive in nature, commensurate with the circumstances, so as to contribute to ensuring the safety and security of the navigation across the Strait of Hormuz." The text also stated that such contributions may include "the escort of commercial and merchant vessels" and supported efforts "to discourage attempts to close or obstruct international navigation through Strait of Hormuz." Reporting by David Brunnstrom, Editing by Caitlin and Barbara Lewis
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Despegar CEO: Brazil-driven expansion will triple business in 3 years.
Despegar, an online travel agency focusing on Latin America, plans to triple its size in the next three-year period. Its operations in Brazil will be the main driver, and it plans to invest $100m per year over that time. Gonzalo Estebarena, the company's top executive, said that it will invest in artificial intelligence technology for a "future based very much on artificial intelligent". Despegar, founded in Argentina in 1999 is one of Latin America’s largest online travel platforms. After its acquisition by Prosus, for approximately $1.7 billion, it was delisted from New York Stock Exchange. Estebarena, in an interview at Despegar offices in Buenos Aires, said: "We want to triple the company in three or four years both in terms of transactions and operations." He added that "the growth rate we propose going forward is more aggressive than growth seen in the past seven or eight year," By the end of this decade, the firm plans to more than triple the current gross bookings. Estebarena was Despegar's Chief Technology Officer before assuming his new role in this month. He said that growth would be driven by integration with other platforms, particularly those owned by Prosus, which owns iFood, Brazil's largest food delivery app. Estebarena reports that since the integration began in 2025, 14% (or more) of Decolar's revenue in Brazil has come from iFood clients who have earned points through a loyalty program. It gives us a great deal of?confidence because iFood 'has 25 times more customers than Decolar. This is a great growth opportunity. He said, "The opportunity is immense." He said that there has been a slowdown in sales of tickets and travel packages as the war in the Middle East pushed up oil costs and created uncertainty among customers. "The ?main impact is the uncertainty ?it creates among people and, potentially--although not ?yet to the extent it could reach in the future--we are starting to see an impact on prices due to rising fuel costs," Estebarena said. (Reporting and writing by Eliana Razewski, Editing by Janane Vekatraman).
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Transporters in Guinea-Bissau strike over fuel price increases
Transport drivers in three?locations in Guinea-Bissau, including the capital, went on strike Tuesday after the government raised fuel prices as a'response' to the Iran _war, but prohibited any increase in passenger fare. Residents reported that taxi and van drivers were not working in Gabu, which is the largest city of the east. They also said that Mansoa was the same. This forced passengers to walk long distances. Caram Gassama is the chairman of the country’s drivers’?union. He said that vans with at least 15 seats began their strike in Bissau on Tuesday. Taxis are expected to follow suit on Wednesday. African governments have increased fuel prices sharply as global oil prices are surging due to the Iran War. This could spark inflation on the continent. Guinea-Bissau raised the price for diesel last week from 700 CFA Francs (about $7.50) to $898 CFA Francs (about $8.99). The government also raised the price for gasoline from 794 to 899 CFA Francs. The government that took power in November through a coup d'état also prohibited?increases to fares for passengers. The shortage of petrol in West Africa has been a problem for the last two weeks. The government of Guinea-Bissau, headed by Major-General Horta?Inta-a did not comment on the transport strikes on Tuesday. A government spokesperson failed to respond to a comment request.
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Gautam Adani is seeking to dismiss the US SEC fraud charges against him
Gautam Adani will ask a U.S. His lawyers announced on Tuesday that he will?ask a?U.S. Adani and Sagar Adani, both executives and directors at Adani Green Energy where they are both employed, were charged in November 2024 by the Securities and Exchange Commission (SEC) with orchestrating a bribery scheme in which hundreds of millions of dollars in bribes would be paid or promised to Indian government officials for Adani Green Energy's benefit. Adani Green is accused of failing to disclose the scheme to bond investors in documents for its $750 million offering in 2021. Adani's attorneys said in a filing to the Brooklyn federal court that the SEC claims are "impermissibly exterritorial," as the alleged misconduct and the defendants were all in India, and the bonds were not traded on any U.S. exchange. Lawyers also said that the Adanis were not involved in the offering, and there was no credible evidence to support the bribery scheme. The SEC?did not immediately respond to an inquiry for comment.
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SCENARIOS - Deal, delay or strike? Investors are on edge as Trump's Iran date approaches
Investors are weighing the various outcomes, from a ceasefire to a renewed military escalation, and their impact on oil, currencies, and risky assets. Iran did not show any sign of 'agreeing' to Trump’s demand that the Strait of Hormuz be opened by Tuesday evening or face massive attacks on civilian infrastructure. This would be the largest escalation of the?war yet. The Wall Street Journal reported on Tuesday that Iran has 'cut off direct diplomacy' with the U.S. Trump gave Iran until 8 pm in Washington (midnight GMT, and 3.30 am in Tehran) on Friday to end its Gulf oil blockade. This move has shook the commodities and financial markets in recent weeks. David Morrison is a senior market analyst with Trade Nation. He said that the markets are in a binary situation, as they attempt to position themselves before a deadline. This will either result in a quick resolution or an abrupt escalation. The S&P 500 index fell by nearly one percent on Tuesday. Gold and the dollar also declined, but oil rose. Here's what could happen: MILITARY ESCALATION Citigroup stated in a note that a prolonged conflict or severe disruptions to oil supply could drive Brent crude prices up to $130. Investors would price in a sharp slowdown of the economy and higher inflation by selling cyclical and interest rate-sensitive stocks. Pete Mulmat, of IG North America, said that American Airlines, as well as other travel stocks like Carnival, are the most vulnerable to rising fuel costs and weakening consumer demand. Palantir, on the other hand, and CrowdStrike, an AI-defense hybrid, have the biggest upside if volatility increases and the conflict continues. The U.S. Dollar has been one of the major beneficiaries of the safe haven trade sparked by?the conflict. Steve Englander, Standard Chartered's FX strategist, stated that if oil prices are expected to remain high for a longer period of time, the USD may strengthen. This could increase inflation and output pressures on energy importers. The rise in the dollar could also put pressure on the Japanese yen, and increase the possibility of an intervention from the Bank of Japan. UniCredit analysts stated that the BOJ would intervene likely if USD/JPY rose quickly above 160 and reached its highs of July 2024 near 162. The last time the yen traded was at 159.82. PEACE DEAL Trump has abruptly backed off similar threats to escalate the conflict over the last few weeks. He cited what he described as productive discussions with unidentified Iranian figures, even though Tehran denies that any substantive talks took place. S&P 500 is up about 4% from its low of late March, which was a seven-month high. This rebound has been attributed to the hope for a resolution. J.P. Morgan analysts stated that if a ceasefire were to occur, they would expect bond yields to fall, oil/energy prices to drop significantly, USD to be sold off, credit spreads tightened, and equity markets to soar. Stocks of energy, fertilizer, and defense companies that have surged in recent months on the expectation of a long conflict and higher input costs, could give back some of their gains. Oil-sensitive airlines and cruise operators, which have been hit hard by the oil price slump, could recover some of their losses as travel demand expectations improve and fuel prices fall. Bets on rate reductions could also be reinstated if the conflict in the Middle East de-escalates. Oil prices have spiked and inflationary fears are causing traders to expect a prolonged pause on monetary easing this year. Extension of Deadline Investors may be tempted to take risks in the short-term if they believe that a deal is near. Raffi Boysadjian is the lead analyst at Trading Point. He referred to a Wall?Street cliche that Trump "always chickens out." J.P. Morgan analysts prefer a neutral stance due to?unresolved risks in shipping and uncertainty about energy supply. Brent crude is expected to stay around its current price range of $10 per barrel as long as the Strait of Hormuz continues to be closed. Gold prices could remain the same as long-term uncertainty continues to drive hedging. The stronger dollar has hurt gold prices, which have dropped 12% since war began. (Reporting by Sruthi Shankar, Medha Singh, Anjana Anil, Vidya Ranganathan and Shashwat Chauhan in Bengaluru; editing by Colin Barr and Sriraj Kalluvila)
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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.
DHS: US airports could no longer process international travelers in certain'sanctuary' cities
Homeland Security Secretary Markwayne Mullin stated on Tuesday that Customs officials may stop 'processing international travellers at major U.S. Airports in "sanctuary Cities" that have refused to cooperate with a hardline immigration crackdown by the Trump administration. This could seriously impact U.S. tourism and trade. This move could halt air travel, commerce and tourism at major airports located in Democratic states. It will also have a major impact on the FIFA World Cup which is scheduled to begin in early June. Last year, more than 50?million foreign travelers landed at three major New York Airports. In October 2025, the U.S.?Department of Justice released a list of sanctuary cities and state that included many major international airports in cities such as Denver. Philadelphia, Chicago. Los Angeles, New York City. Newark. Seattle. and?San Francisco. Since?mid February, the U.S. immigration enforcement and airports have been at a center of a partisan funding battle. Democrats refused to fund additional money to President Donald Trump's immigration clampdown without reforms that would scale back aggressive tactics. Mullin cited Democrats' refusal to agree to a funding deal for the Department of Homeland Security including Customs and Border Protection and said he was looking forward to speaking with?Trump on the idea of pulling the customs offices.
Mullin said to reporters in North Carolina that it was an option, but no decision had yet been made. "If cities are going to say they won't enforce immigration policies and sit there, then I will repeat that it makes no sense for us process international travelers in that city."
Mullin said that pulling customs officers from the DHS was just one option being considered as Congress is still deadlocked on funding. "We are going to have those conversations. This is something that I am merely?thinking about, as?I stated. He said, "This isn't necessarily something I'm going to do."
Mullin argued state and local policies and laws that limit immigration enforcement are illegal, because they contradict federal immigration laws.
(source: Reuters)