Western Europe

According to the annual report of 'Air 'India's' 25% shareholder Singapore Airlines, Air 'India's' record loss was more than $2 billion for its fiscal year '2025-26'. India's second largest airline had been impacted by disruptions caused by the Iran War and Pakistan's ban against Indian carriers flying in its airspace. Singapore Airlines, who owns 25% of 'Air India', revealed in its annual report released on Thursday that the Indian group had suffered losses totaling 3.56 billion Singapore dollars or $2.80billion at current exchange rates for the year ending March. Singapore Airlines didn't specify the exchange rate that it used to...

FS is a 'leading corn ethanol 'producer' in Brazil. The agribusiness company Amaggi agreed to purchase a 40% stake, the companies said on Wednesday. This marks the agribusiness' entry into a rapidly growing industry that's gaining ground over sugarcane based biofuel. The deal, whose value wasn't disclosed, will support FS growth plans. FS operates three plants in the Mato 'Grosso area, which have a combined annual production capacity?of 2.5 billion liters of ethanol. According to the Sugarcane Industry Union (Unica), corn ethanol represented 27% of the total production in the Center South region for the harvest 2025/26. In a joint...

Europe's largest tour company, TUI, ?posted a slightly narrower-than-expected second-quarter adjusted operating loss ?on Wednesday thanks to ?resilience in ?bookings. The?German tour operator reported a loss for the March 31 quarter of 188 millions euros ($221million), 9% less than the year before, despite the 40 million euro hit caused by the Iran War that forced flight cancellations and ship rerouting. Analysts surveyed by LSEG projected a loss of 194 millions euros. "The very good results give us confidence for the second half." Due to geopolitical challenges and dynamic operating conditions this will require a great deal of dedication and flexibility,...

Boeing announced on Tuesday that it had received a total of?135?net new orders during April. This is almost the same as its first quarter sales. Boeing booked 284 new orders in the first four month of this year after accounting for cancellations and convertions. This is the highest number of orders for this?period in 2014. Airbus has booked 405 orders after cancellations and modifications through April 30, but the U.S. rival is still behind. Airbus delivered 67 jets last month. Boeing delivered '47 jetliners in the month of April, an increase from the previous one. Investors closely track 'delivery', when...

The Lufthansa Group is exercising an option to increase its stake in Italy's ITA Airways from 80% to 90%, tightening their grip on the Rome-based ITA Airways as consolidation in Europe accelerates. Lufthansa announced on Tuesday that the German group will increase its holding in ITA by 49 percentage points, from 41% to 51%. This will be achieved through the purchase of a 2nd block?of shares next month for 325 millions euros ($382million). The majority acquisition is expected to be completed in the first quarter 2027, after approval from the European Union and the U.S. In many ways, Lufthansa said...

SES, a Luxembourg-based satellite operator, reported its first-quarter results on Tuesday. The results were in line with expectations and the company reiterated their yearly guidance. They also noted a strong performance in aviation and European infrastructure. The quarter's revenue was 847 millions euros ($996million), up 80% on the year at constant currency. Over the last three months, 306 million euros worth of new contracts and renewals were signed by the company. In a press release, CEO Adel al-Saleh stated that the aviation business had been a strong performer. More than 40 aircraft were committed to?Japan Airlines. SES and Boeing have...

Greg Abbott plans his summer vacation with a half-eye on the Iran War. He is planning to stay close to home, in Europe. The 54-year old Australian, who lives in Britain, is planning to go on a cycling tour with his friends in Austria. He also plans to attend a music festival in Barcelona as well as a possible yoga retreat in France. But he is not looking to travel too far. "We will almost certainly do short-haul Europe and almost certainly use trains because they are powered by electricity," said Abbott. The head of operations at a broadcasting firm...

Middle Eastern carriers increased capacity following the Iran War, and airlines outside the Gulf have rerouted flights between Europe & Asia away from major hubs within the region. The latest flight information is listed below alphabetically: AEGEAN AIRLINES On May 21, Greece's biggest carrier will resume its flights from Heraklion, Rhodes, and Larnaca to Tel Aviv. Thessaloniki-Tel Aviv flights are cancelled up until June 26. Flights to Beirut will resume on May 12, and flights to Riyadh, Amman and Amman are scheduled to resume May 21. Dubai flights are suspended until August 31 and Erbil, Baghdad and Baghdad flights will...

Swiss International Air Lines' CEO said in the NZZ on Saturday that the airline has enough jet fuel to last for the next six weeks. However, the company is exploring contingencies such as "tankering", amid industry warnings of fuel shortages linked to the Iran War. The newspaper Neue Zurcher Nachricht quoted SWISS CEO Jens Fehlinger as saying that "the current forecasts of our suppliers, oil companies and refineries, are good." European airlines are warning of possible jet?fuel shortages in the coming weeks due to the U.S. - Iran conflict, which has caused energy prices to soar and curtailed'supply. "If there...

The airport released a statement on May 9, stating that a Frontier Airlines passenger plane struck and killed a pedestrian?on the runway?at Denver International Airport?during a planned takeoff to Los Angeles late Friday night. Frontier reported that it had struck a person during takeoff, and the flight was abandoned. The unidentified pedestrian had jumped over the perimeter fence and was struck just two minutes after crossing the runway. The?statement' said that the individual was not believed to be a member of staff at the airport. A brief engine fire caused smoke to fill the cabin of an Airbus A321 carrying...

Analysts and industry executives say that the recent grounding by 'Spirit Airlines', a U.S. low-cost carrier, could ease shortages of RTX next-generation spare engines required to keep Airbus single aisle jets in service. Spirit Airlines ceased operations of its 'all-Airbus' fleet on May 1, due to high fuel prices. ?Its bankruptcies are leading to new cases of A320neos that were dismantled and sold for parts. This trend had been happening in the industry because of a severe shortage of RTX Pratt & Whitney Geared Turbofan Engines. Fuel-efficient GTF engines often make the A320neo aircraft more attractive than their aircraft. Austin...

European?shares fell on Friday, with broad losses, as a flare up in the Middle -East conflict impacted risk sentiment at the end of a geopolitical week. The pan-European STOXX 600 ended down 0.7%, at 612.14, but it recorded a small second consecutive weekly gain. The major regional markets also fell, led by Germany's DAX which dropped 1.3%. Washington expects an Iranian response to its latest proposal for ending the Gulf conflict as early as Friday, despite the fact that U.S. forces and Iranian forces are clashing and the United Arab Emirates is being attacked again. Richard Flax is the chief...

The risk of hantavirus spreading to the general public is very low, according to the U.S. The Centers for Disease Control and prevention has over 100 staff working on this outbreak, a government official said on Wednesday. Please know that we are here to safeguard your health. Dr. 'David Fitter', incident manager of the CDC hantavirus response said that based on the current information the risk to the general public is low. Dr. Brendan Jackson is the CDC's team leader in Nebraska. He said that the CDC was conducting public health assessments in Nebraska where 16 out of 18?passengers? from...

The European Commission proposed on Wednesday new rules to simplify train travel. They include allowing single ticket bookings throughout Europe. The proposal allows for travel between different countries in Europe and across rail lines to be booked using a single ticket. This would make it easier for passengers to compare prices while also protecting their rights as consumers if they miss a connection on'multi-leg' journeys. The aim is to help 'the EU reach its climate goals by making it easier for passengers to access more sustainable travel alternatives. The EU announced an action plan in November to increase interconnectivity between...

E.ON, Europe's largest network operator, reported a 2% increase in 'core profit' in the first quarter. This was partly due to its industrial customers in Germany, its home market. The shares of the Frankfurt-listed company rose 1.5% at the start of trading. Jefferies analysts attributed the rise to the higher retail energy prices that began the year. The company reported that the adjusted core profit for the period of January to March was $3.87 billion. It also confirmed its outlook?for the year. The company said that investments in the period fell to 1.4 billion euros, down from 1.5 billion euros...

E.ON, Europe's largest network operator, reported a 2% increase in core profits in the first quarter, it announced?on Wednesday. This was partly due to its industrial customers in Germany, its home market. The company confirmed that the adjusted core profit for the period of January to March was $3.87 billion. It also confirmed its outlook for this year. The company said that investments in the period dropped to 1.4 billion euros, down from 1.5 billion the previous year. It cited a 'cold winter in Germany which caused delays in upgrading the network infrastructure. Finance chief Nadia Jakobi stated: "We are...

German utility E.ON will soon become Britain's biggest energy supplier after it announced on Monday that it would buy rival Ovo Energy at an undisclosed price. According to the data of?regulator Ofgem, the deal will?create one of the UK’s largest energy suppliers. The?two companies are already the third and fourth biggest providers. The acquisition adds 4 million OVO subscribers to E.ON’s 5.6 million existing customers in the United Kingdom. According to the German company, this is an important growth market. Marc Spieker is E.ON’s Chief Operating Officer for Commercial Operations. He said, "The planned purchase of OVO will strengthen our...

At a meeting at the Kremlin, Vladimir Putin told Robert Fico, Slovakia's Prime Minister on Saturday that Russia would do all it could to meet Slovakia’s energy needs. Slovakia is one of the few European countries that still buys?Russian oil and gas. The Druzhba Pipeline, built by the Soviets, is used to transport Russian oil into Slovakia. TurkStream is used to deliver natural gas from Russia. Fico arrived at Moscow for the celebrations to mark 'the Soviet Union’s victory over Nazi Germany during World War Two. In comments broadcast by?national television, Putin said that he would do "everything" to meet...

Ebba busch, the Energy Minister of Sweden, said that plans to build a new power cable for Denmark will be put on hold. She also stated that Sweden disagreed with the proposal made by the European Commission on how the revenues generated from electricity congestion fees should be used. Sweden has threatened to limit electricity exports this year to its neighbours until the European Commission resolves their disagreements over the use national funds to fund EU energy projects. Sweden expects to charge Denmark, Finland, and Germany 130 billion Swedish crowns (14.11 billion dollars) for the excess power it exports from...

?Russia's vast Kirishinefteorgsintez (Kirishi) oil ?refinery halted processing on Tuesday following Ukrainian ?drone attacks ?which damaged ?the ?plant's units and caused a fire, two industry sources said. Surgutneftegaz which controls the refinery did not respond immediately to a comment request. Sources who requested anonymity because of the sensitive nature of the situation said that three of four crude distillation unit (CDU) at the refinery had been damaged by the drone attack. Sources said that it is difficult to estimate the time needed for the repairs of damaged units. They added that secondary units also suffered damage. Alexander Drozdenko, the region...

Lazard, an investment bank, has hired former Western Midstream Partners Chief Executive Michael Ure to be a senior advisor in the group's energy, infrastructure, and power. Ure, who is based in Houston, has been in management and executive roles for more than 20 years, according to the statement. He worked at Occidental Petroleum as senior vice president of business development and Shell. He was most notable as the head of Western Midstream. Ure was named CEO of Western Midstream in August '2019. He guided the company as Occidental acquired Anadarko Petroleum, giving it control over Western Midstream. Ure remained in...

A senior official revealed that the Africa Finance Corporation, the lead developer of the U.S.-backed Lobito mineral transport corridor, is in discussions with at least 10 African and foreign financiers including Citigroup to raise $3-5 billion for this project. The AFC has begun preparing for the construction of a key transport project, which will combine existing and new railway lines to link copper and cobalt mining areas with?Angola’s Atlantic port of Lobito. The project is a part of Washington’s effort to curb Chinese influence and secure access to strategic metals, minerals, and coal in Africa. AFC is currently in discussions...

Weir Group announced a drop in 'first-quarter orders' on Thursday. This sent shares tumbling as much as 10% even as the engineering firm reaffirmed its annual guidance and promoted their head of the biggest business to CEO. Andrew Neilson, the president of the company's minerals division, will succeed Chief Executive Jon Stanton, who is heavily focused on the mining industry. The unit accounts for more than 71% of the total group revenue. This update is timely as the global demand for rare earth minerals, such as nickel, continues to increase. Other factors driving this are electric vehicles, grid expansion, renewable...

Matteo Salvini, the Italian Transport Minister, said on Wednesday that Italy's jet-fuel reserves are enough to cover airport operations until at least the end of May. He also urged the European Union (EU) to relax its budget rules so governments can respond to the energy shortage. The 'Iran War' has disrupted Europe’s imports from the Middle East of jet fuel, raising fears about a shortage before the peak summer travel season. Since the U.S. and Israel's war against Iran began on February 28, the price of jet fuel is up 84%, but carriers are largely surviving the crisis. Salvini stated...