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CORRECTED: Airlines cancel flights due to Middle East conflict
The global air travel industry is still severely affected by the Iran War. Many people are unable to fly to their destinations as planned after major Middle Eastern hubs such as Dubai, Doha, and Abu Dhabi were closed. The latest flight information is listed below alphabetically: AEGEAN AIRLINES The largest airline in Greece has cancelled flights from Tel Aviv to Beirut and Tel Aviv to Amman. It cancelled flights from Erbil to Baghdad and Dubai to June 29. AIRBALTIC AirBaltic, a Latvian airline, has announced that flights to Tel Aviv are cancelled until May 31. Dubai flights are cancelled up until October 24. AIR CANADA The Canadian carrier has canceled flights to Tel Aviv, Dubai and other destinations until September 7. AIR EUROPA Spanish Airlines has canceled flights to Tel Aviv till May 31. AIR FRANCE-KLM Air France has suspended Tel Aviv flights to Beirut, Dubai, and Riyadh until May 3. KLM suspends flights to Riyadh, Dammam and Dubai until May 17, and until June 14. CATHAY PACIFIC Hong Kong Airlines has suspended its flights to Dubai, Riyadh and cargo freighter service to Dubai and Riyadh up until June 30, and until May 31, respectively. In April, the airline will add extra flights to London and Paris, as well as Zurich, to meet the increased demand for travel to Europe. It intends to continue operating all scheduled flights after June. The U.S. carrier cancelled all New York-Tel Aviv flight and has delayed the start of its Atlanta to Tel Aviv route till September 5. The launch of the Boston-Tel Aviv flight, originally planned for late October has been postponed until further notice. EL AL ISRAEL AIRLINES Customers who had planned to leave Israel between April 18 and May 1 have been denied access to their flights, including return flights. From April 13, the number of destinations will be increased to 30 and then gradually increase throughout the month. EMIRATES Emirates Airlines has announced that it will be operating a reduced flight schedule to more than 100 locations. ETIHAD AERWAYS The UAE carrier said that it operates a commercial flight schedule from Abu Dhabi to around 80 destinations. FINNAIR The Finnish airline has cancelled all Doha flights up until July 2 and continues to avoid airspace in Iraq, Iran, Syria, and Israel. The airline will only resume its Dubai flights by October. British Airways, owned by IAG, will reduce flights to the Middle East once services resume. Jeddah is no longer a destination. The plan is to reduce the number of flights to Dubai, Doha, and Tel Aviv to one per day starting in July. Riyadh will be reduced from two daily flights down to just one starting in mid-May. The changes will apply until the end of the summer season on October 24. One Dubai service will restart on October 16. Iberia Express, the Spanish low-cost carrier of IAG, has cancelled all flights to Tel Aviv until May 31. JAPAN AIRLINES Japan Airlines suspends scheduled Doha-Tokyo and Tokyo-Doha flight schedules until May 10. Japan Airlines has also announced additional flights between Tokyo, London and Doha on April 25. 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 have suspended flights from Dubai and Tel Aviv to October 24, and Amman, Beirut and Dammam to Riyadh. Lufthansa Cargo will be the same except for Tel Aviv, which is suspended until April 30. ITA Airways has extended its suspension of flights from and to Tel Aviv and Riyadh till May 10. Flights from and to?Dubai have been suspended until May 31. Eurowings, a low-cost airline, plans to suspend its flights to Tel Aviv and Beirut through April 30, and to Dubai, Abu Dhabi, and Amman until October 24. MALAYSIA AIRLINES Malaysia Airlines has suspended all flights to Doha till June 14. NORWEGIAN AIR The low-cost carrier has delayed the launch of Tel Aviv and Beirut flights until June 15. 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 cancels flights to Doha until June 30, and to Dubai until May 31, QANTAS Australia's national carrier has added flights to Rome, Paris and other European destinations to meet the increased demand. 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, and running until late July. QATAR AIRWAYS The airline said that it would be expanding its international flight networks, offering services to 150 destinations from June 16th. SINGAPORE Airlines In response to increased demand, the carrier has extended the suspension of Singapore-Dubai flights until May 31 and added services on Singapore-London Gatwick (late March) and Singapore-Melbourne (late March-October 24). TURKISH AIRLINES SunExpress, Turkish Airlines joint venture with Lufthansa has cancelled flights from Dubai to April 30. WIZZ AIR Low-cost carrier suspends flights from Europe to Amman, Dubai and Abu Dhabi until mid-September. All flights to Medina are suspended indefinitely. (Compiled by Josephine Mason and Jamie Freed. Elviira Loma, Tiago Branao, Agnieszka Olenka, Bernadette HOG, Boleslaw LaSocki, Romolo Tosiani. Editing by Sumana Nady, Joe Bavier Mark Potter and Milla Nussi-Prussak
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New Jersey offers $150 tickets on public transportation for World Cup games
The cost of round-trip tickets for World Cup games in New Jersey is now $150. This is up from $15 on an average day. The increase of more than 10 times in transit fares can add thousands of dollars to the cost of World Cup match tickets. The CEO of World Cup New York/New Jersey's host committee stated on Friday that "we expect public transportation to sell out because it's the fastest and most efficient way to get to the stadium." Service will include round-trips from New York City to the MetLife Stadium by trains and shuttles. Tickets are?nontransferable and refundable. Tickets will only be sold to World Cup ticket holders on May 13th. On game days, parking lots that can normally hold more than 20,000 cars will not be open. The MetLife Stadium is hosting eight World Cup matches, including the final.
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Quotations-Reactions from industry leaders and businessmen to Iran's statement that Hormuz was open
Iran's Foreign Minister said that the Strait of Hormuz was now open to all commercial vessels after a ceasefire agreement in Lebanon. Quotes from world leaders and the shipping industry on the Iranian declaration. SHIPPING INDUSTRIES: HAPAG-LLOYD Insurance coverage, clear orders?of?the iranian government/military about the exact sea corridor to be used and the sequence of ships leaving) we would prefer to pass through as soon as possible. Insurance coverage, orders from the Iranian government/military regarding the exact sea route to be used, and the order of departure by ships) would make it easier for us to cross the strait. Our crisis committee is currently in session, and we will be working with all parties to try and resolve any open issues within the next 24 hours. MAERSK "We have taken note of the announcement." Our priority is the safety of our crews, vessels and cargo. We have been following the advice of our regional security partners since the start of the conflict. The recommendation has so far been to avoid transiting the Strait of Hormuz. "Any decision on whether to transit the Strait will be made based on risk assessment and a close monitoring of security conditions, with the latest developments included in ongoing assessments." KNUT ARILD HARIDE, CEO OF NORWEGIAN SHAPIOWNERS' ASSOCIATION "If it represents a move towards opening, then this is a positive development. The situation is not resolved, as there are still many uncertainties. These include questions about the presence of sea mines, the applicable Iranian conditions and the practical implementation. Before any transit can take place, these?aspects' will need to clarified. ARSENIO DOMINGUEZ, SECRETARY GENERAL OF THE INTERNATIONAL MARINE ORGANIZATION We are verifying that the recent announcement regarding the reopening of Strait of Hormuz is in compliance with the freedom of navigation and safe passage for all merchant ships. World Leaders: ANTONIO GUTERRES UNITED NATIONS SECRESTARY-GENERAL "I welcome Iran’s announcement that the Strait of Hormuz will be completely open to all commercial vessels during the remaining ceasefire. This is a positive step. The UN's position is clear: We need to restore the full rights and freedoms of international navigation in the Strait of Hormuz. U.S. President DONALD TRUMP Trump posted on Truth Social that "the Strait of Hormuz was completely open, ready for full business, and the full passage. But, the naval blockade would remain in full force, and only as it relates to Iran until our transaction with Iran has been 100% completed." FRENCH PREMIER EMMANUEL MACON Macron said that the "move" was in the right direction. We all oppose any restrictions, agreements, or systems that could be interpreted as an attempt to privatize strait, and of course any toll system. CEVDET YILMAZ, TURKISH VICE PRESIDENT We welcome Iran's announcement of the Strait of Hormuz being reopened for all ships up until the end of the ceasefire. This is a?important step in deescalating tensions. "Dialogue, restraint and strengthening multilateral co-operation are the only ways to prevent similar crises, conflict and developments disrupting maritime transport in our area." FINNISH PRESIDENT ALEXANDER STUB "Finland is ready to work with a solution which brings stability to the area and respects international laws." (Reporting from bureaus, compiled by Toby Chopra).
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Pakistan's power shortages ease with a rebound in hydro-generation
Pakistan's power'shortages' have decreased from six hours daily to less than three, after water release from dams almost quadrupled, pushing hydropower output to its highest level in days, said a spokesperson from the country's "power" division on Friday. The hydropower generation jumped to 4,100 Megawatts (MW), from 1,800MW, before the dam releases. The increased output eased grid restrictions and allowed 400 MW more to be transmitted out of the south. This improvement is a result of Pakistan's electricity shortage, which doubled to 3,400 megawatts this week. The shortfall caused six to seven hour outages across parts of northern Pakistan. In an interview with Awais Leghari on Thursday, the shortfalls are primarily due to a decline of 48% in annual hydropower production as 'provinces have not asked for water releases from Dams due to heavy rainfall reducing irrigation needs. The cause of the increased water release was not immediately apparent. As the monsoon season begins, hydropower generation will likely continue to be high unless there are more rains. No immediate plans to buy spot LNG Pakistan, who is trying to mediate a peaceful end to the Iran War, thought that a stoppage of LNG imports would have a minimal effect compared to the "widespread power outages" which followed Russia's invasion in Ukraine in 2022. This assessment didn't take into account the decline in hydropower. Leghari stated that Pakistan does not have immediate plans to buy LNG on the spot markets, but will instead rely upon fuel oil, as well as a recovery of hydropower, in order to ease outages. Pakistan partially offset shortfalls up to 2,500MW after Qatar suspended LNG supply by running furnace oil plants at full capacity. "The cargoes that will be offloading the LNG? and then all the expenses of the terminal... this easily adds an additional $4-$5 on the spot price." "I think furnace oil might be a bit cheaper," Leghari said in an interview with?Thursday. He said, "We disciplined ourselves to be able bear the discomfort and not allow the prices to actually drive up inflation." Reporting by Ariba and Sudarshan Varadhan; Editing by Philippa and Toby Chopra
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Quotations-Reactions from industry leaders and businessmen to Iran's statement that Hormuz was open
Iran's Foreign Minister said that the Strait of Hormuz was now open to all commercial vessels following an agreement in Lebanon on a ceasefire. The shipping industry and leaders from around the world have spoken out about the Iranian declaration. SHIPPING INDUSTRIES: MAERSK "We have?taken?note of the announcement. Our priority is the safety of our crews, vessels, and cargo. We have been following the advice of our regional security partners since the beginning of the conflict. The recommendation has so far been to avoid transiting through the Strait of Hormuz. "Any decision on whether to transit the strait is based on the risk assessment and the close monitoring of security conditions, including the latest developments in ongoing assessments." KNUT ARILD HARIDE, CEO OF NORWEGIAN SHAPIOWNERS' ASSOCIATION "This is a positive development if it represents a move towards an opening. The situation is not resolved, as there are still many uncertainties. These include questions about the?presence or sea mines and the applicable Iranian conditions. Before any transit can be assessed, these aspects must 'be clarified. HAPAG-LLOYD "We have begun to evaluate the new situation, and the risks that are involved." We are therefore refraining for the moment from crossing the strait," said a spokesperson. Later, a spokesperson said: "We're looking into it. (Hapag Lloyd's) Crisis Committee is in session." We will probably pass soon, but it's too early to confirm. ARSENIO DOMINGUEZ SECRETARY GENERAL OF INTERNATIONAL MARINE ORGANIZATION "We are currently checking the recent announcement regarding the reopening of Strait of Hormuz in terms of compliance with freedom of navigation for all merchant ships and secure passage." World Leaders: U.S. President DONALD TRUMP Trump said on Truth Social that the Strait of Hormuz was "completely?open" and ready for full business. However, the naval blockade would remain in place as long as Iran is concerned, and only until our deal with Iran has been completed. FRENCH PREMIER EMMANUEL MACON Macron said that the move "goes the right way." We all oppose any restrictions or agreements that would amount to a privatization of the Strait, and, of course, toll systems. FINNISH PRESIDENT ALEXANDER STUB Stubb stated on X that Finland is ready to work towards a solution which brings stability to the area and respects international laws. (Reporting from bureaus; compiled by Toby Chopra).
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Nornickel claims that higher prices will offset the increased costs and delivery time from the Iran war
Russian metals manufacturer Nornickel said the Iran war had extended delivery times by three weeks for its base metals exports and increased freight costs, but that higher metal prices offset the additional expenses. U.S.-Israeli strikes on Iran have paralyzed shipments through Strait of Hormuz, and created risks for shipping via the Suez Canal. Nornickel carries base metals from Murmansk, through Tangier, Rotterdam, and the Americas and Europe by sea. Anton Berlin, Nornickel vice president and head of sales, told reporters that the company no longer uses the Suez Canal, but instead routes cargoes around Africa. "Previously, base metals that we shipped by sea either went through the Suez Canal, or around Africa depending on the situation, Berlin said that they now only go?around Africa. Berlin?made his remarks before?Iran's foreign minister said that passage for all commercial vessels through the Strait of Hormuz is declared completely open for the remainder of a truce between Israeli forces and Iran-backed Hezbollah. Berlin made his remarks just before the?Iranian foreign minister announced that all commercial vessels will be allowed to pass through the Strait of Hormuz for the duration of the truce between Israel and Iran-backed Hezbollah. Berlin said that the demand for base metals is also largely unchanged from the levels before the Middle East tensions escalated. Nornickel announced that after sanctions were imposed against Russia, it would drastically reduce the number of shipments through Rotterdam and instead use its hub in Tangier. Vladimir Potanin, Nornickel's main shareholder, said that the company was 'considering' investments in port infrastructure across the Middle East, Turkey, and Morocco in order to reduce its dependence on European ports. Nornickel is the largest palladium producer in the world and a major copper and nickel supplier. It hasn't been targeted directly by Western sanctions, but it has faced voluntary restrictions and logistical and payment problems from its partners. The company has responded by reorienting its supply chain towards Asia. Berlin said that around 50% of Nornickel sales are shipped to China. About 15% go to Russia, and about 5% to the United States. The remainder of the volumes are shipped out to Europe, North Africa and Middle East, as well as other Asian markets. (Reporting by Anastasia Lyrchikova. (Editing by Jane Merriman).
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Shippers seek clarifications on the Hormuz crossing
Shipping companies welcomed Iran's announcement that the Strait of Hormuz was open, but they said a clarification would be needed before ships could enter the Gulf. The Foreign Minister Abbas Araqchi announced on Friday that all commercial vessels were welcome to use the Strait of Hormuz during a 10-day ceasefire agreement in Lebanon. This led to a drop in the price of oil and other commodities, while the stock market rose. Arsenio Dominguez, Secretary-General of UN shipping agency 'the International Maritime Organization' (IMO), said: "We are currently evaluating the recent announcement regarding the reopening of Strait of Hormuz in terms of compliance with freedom of navigation and safe passage for all merchant ships." The Norwegian Shipowners' Association stated that several things must be clarified prior to any ships being able to transit the strait. These include the?presence and conditions of Iranians', the practical implementation, as well as the Iranian conditions. Knut Arild Harteide, CEO of the association that represents 130 companies and 1,500 vessels, said: "If this is a step in the right direction, then it's a positive development." Hapag-Lloyd, a German shipping company, was assessing the situation. "We will probably pass soon", said a spokesperson. CMA CGM and Maersk, the French shipper, were not available to comment immediately. Frontline, a Norwegian oil tanker company, declined to comment. A senior Iranian official said that all commercial ships, including U.S. vessels, can pass through the strait. However, their plans must be coordinated with Iran’s Islamic Revolutionary Guard Corps. Officials said that the transit would only be allowed on routes that Iran considers safe. Military vessels are still prohibited. U.S. president Donald 'Trump' said on Friday that Iran had agreed not to close the strait ever again and was clearing sea mines out of the strait. A U.S. Navy advisor said that the threat posed by mines in some parts of the strait was not fully understood. Ships should avoid the area, the advisory stated. The strait is one of the world's major maritime chokepoints. Shipping companies have been forced to suspend sailings and reroute their cargo, and use expensive workarounds in order to keep goods flowing into and out the Gulf. (Reporting from Gdansk by Jesus Calero, writing by Louise Rasmussen, Nerijus Adomatis, editing by Terje Solsvik, Louise Heavens and Jason Neely.)
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Spain's energy watchdog investigates major companies for historic blackout
Spain's energy regulator and competition authority?said? on Friday that it had opened formal investigations into the country's biggest energy companies and power grid operator in relation to the unprecedented blackout last year which occurred in Spain and Portugal. Evidence was found of long-term violations of certain power sector regulations. The watchdog has opened investigations into the grid operator Red Electrica (a unit of Redeia) as well as the energy companies Iberdrola Naturgy Endesa Repsol. The watchdog also stated that it was investigating individual power stations. Iberdrola declined to make a comment. The other companies named did not immediately respond to requests for comments. Numerous investigations have been conducted to determine the cause of the massive power outage that plunged a large part of Spain and Portugal in darkness for 16 hours or more on April 28, 2025. The majority of investigations focused on identifying the causes without assigning blame. The National Commission on Markets and Competition (CNMC) said that although the violations were not responsible for the blackout they could have affected the power system operation and may amount to administrative infringements requiring a formal inquiry. After the close of the market, the names of companies under investigation were revealed on the website. The CNMC, in a report published last month, recommended that measures be taken to reduce voltage fluctuations on the grid as a result of the blackout as well as boosting French energy links. The CNMC did not blame anyone, saying that it was looking at 'potential breaches separately. The CNMC reported that it had found a series of events which destabilised the system over time and culminated in the outage on April 28, 2025, whose immediate reason was a'surge in voltage. The report also said that while some breaches may have been suspected for a long time, this does not mean the companies responsible for the blackout are to be blamed. The process?can take between nine to 18 months depending on the severity of the infringement. Affected parties can submit arguments and proof. Reporting by Marta Serafinko, Pietro Lombardi. David Latona, Mark Potter and David Latona edited the report.
Andy Home: The fallout from the war in Iran spreads to copper, nickel and other metals
The Iran war caused turmoil on the global aluminum market, but the impact is now spreading to the copper and nickel supply chain.
The conduit is sulfur - a byproduct of the Gulf oil and gas industry that has been trapped since the Strait of Hormuz shut on February 28. According to the U.S. Geological Survey, this region is responsible for a quarter or more of global oil and gas production.
Sulfuric acid is a key input for ?copper miners using solvent-extraction technology on oxide ores and for nickel production from high-pressure-acid-leach (HPAL) ?plants.
Unfortunately, sulfur is used in fertilizers. This sector accounts for two-thirds or more of the global demand, and it's one that governments prioritize over all else.
China, which is the largest producer of sulfuric acid in the world, will begin to ban exports next month. According to Argus media, Turkey has already banned exports, and India may do the same.
As a result, the sulfur shortage is intensifying and prices are rising to new records.
A MULTI-DIMENSIONAL COPER THREAT
According to the International Copper Study Group, around a fifth (25%) of primary refined copper is produced by solvent extraction and electrowinning operations. These use sulfuric acid, a leaching agent, as a leaching reagent.
The Democratic Republic of Congo has a?specially high level of exposure. The SX-EW process accounts for about half of the copper produced in the second largest producer of the world. This country imports most of its sulfur from the Gulf.
As import prices rise, some shipments have been cancelled. Miners are already reducing consumption in order to conserve?chemical stock.
China's ban on exports could cause similar problems for Chilean producers. Morgan Stanley reports that Chile produces around 1.125 metric tons copper using the SX-EW method and depends on China for about 20% of its sulfuric acid needs.
Leaching is a slow process, so there will be some time before production rates are affected. Chile produces its own sulfuric acids as a result of copper smelting. This provides some protection against disruptions in imports.
This?cushion', however, could be a problem in China.
Copper smelters in the country are increasingly dependent on sulfuric acids as a source of revenue. The treatment charges for converting concentrate into refined metal are at historical lows, and even trading at negative figures. This has thrown conventional smelter economics to the wind.
The export ban will likely stall, or even reverse, the rise in sulfur prices domestically.
This is good news for the agricultural sector, but bad news for copper smelters. Some of them are expected to reduce production or undergo maintenance in the coming weeks and months.
INDONESIAN Nickel Producers
Indonesia, which is the largest nickel producer in the world, imports around 75% its sulfur requirements from the Middle East. The country also imports sulfuric acids from China.
Morgan Stanley estimates that the HPAL production requires 25-30 tons of acid (equivalent to 10 tons sulfur) to produce one ton mixed hydroxide precipitate (MHP), a product intermediate containing nickel and cobalt.
Macquarie estimates that MHP production was at around?450,000 tonnes last year, and is expected to increase by another 100,000 tons in 2019 as new projects ramp-up.
Nickel production will be affected faster by the sulfur-squeeze than the copper market. Indonesian producers are reducing production rates because stocks are already low.
COST IMPACT
The impact of the sulfur squeeze on nickel and copper production is yet to be seen. The impact on production costs, however, is more certain.
Macquarie estimates the increase in sulfur prices since the beginning of the year added $4,000 to the Indonesian HPAL nickel costs. The cost curve has risen to $14,500 to 18,000 per tonne.
This is what explains the sharp increase in nickel prices on the London Metal Exchange, which reached an 11-week peak of $18,655 a ton this week.
Natixis calculates, on the other hand, that sulfur costs Congo's SXEW copper producers 20% of their cash production costs. According to the bank, every $100 increase in sulfur price is equivalent to a 4% increase in cash costs.
These numbers have now helped feed into copper's bull story, lifting the LME 3-month price above $13,000 per ton for the first time since a month.
It is clear that much depends now on whether or not the just-announced ceasefire of 10 days leads to a lasting deal of peace and the full reopening of Strait of Hormuz.
Copper and nickel producers would still be in competition with agriculture for sulfur. In this particular race, there's only one winner.
Andy Home is a columnist at. This column is great! Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
(source: Reuters)