Latest News
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Honeywell Aerospace shares fall in Nasdaq debut
Honeywell Aerospace closed Monday's trading down by?0.4%? after making its Nasdaq debut. The company was spun off from Honeywell in a larger breakup of Honeywell, one of the few major industrial conglomerates. The shares opened higher and gained about 7% at one point, but then fell back due to a volume of 8.5 million, ending down 82 cents, or $220.19 per share. The debut of the company comes at a period when investors are eager to buy aerospace and defense assets due to pent-up interest and increasing military spending. CEO Jim Currier stated that the spinoff would help the company meet the demand of?planemakers Boeing & Airbus. It will allow it to make more rapid decisions, such as if to deploy capital for higher production. Currier stated, "We are able to?support Boeing as they continue ramping." We have a very, very clear,?visibility of what their ramp -needs are going forward. The U.S. manufacturer of auxiliary power systems, avionics, and other aircraft system expects to earn $6.5 billion by 2030. The company expects a sales increase of 7 to 9% in this year, and a free cash flow between $1 billion and $1.5 billion. Honeywell announced that it will separate into three independent companies in 2025, focusing on aerospace, automation and advanced materials. The process is expected to be completed this year. Supply chain issues have been a problem for commercial and private jet manufacturers. Honeywell Aerospace also looks at M&A deals that focus on "technologies in high-demand in aerospace" such as electrification and autonomy, safety, efficiency, productivity, and effectiveness, he added. The company announced earlier this month that it would focus on investing in its supply chain and capacity to grow, instead of focusing on dividends or stock buybacks. Currier stated that 'planemakers also are more open to their growth plans when dealing with large suppliers such as Honeywell. "There was a bit of a lack in transparency about the production rates that used to drive second-guessing. Are they really going to achieve or aren't they? He said. He said, "Transparency is now at a new level that I have never seen before. This is really necessary in an environment of supply constraints." Reporting by Aatreyee Dasgupta and Allison Lampert, both in Bengaluru; editing by Joyjeet Das & David Gaffe
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What is the British Defence Investment Plan?
The UK will announce its long-delayed Defence Investment Plan on Tuesday, laying out how it plans to spend a growing military budget in the coming years. Here are some measures that have already been announced prior to the publication of the plan: -?Britain announced that its Royal Navy will become a?Hybrid Navy? combining autonomous vessels, AI and warships with aircraft. This includes unmanned vessels with specialties such as missile platforms, reconnaissance stations and submarine hunting. The government will invest at least in six "Common Combat Vessels", which will serve as the control hubs of unmanned systems. These vessels will be in service by the 2030s. New high-speed vessels for Royal Marine Commandos. Invest in "expensive, expendable autonomous systems and loitering weapons" - A program to develop unmanned ground vehicles. By 2030, up to 24 autonomously armed drones will be deployed alongside Apache helicopters. Up to 24 drones will replace the existing unmanned surveillance aircraft 'Watchkeeper. Air Force (Reporting by William James, Editing by William Maclean) (Reporting and Editing by William Maclean, William James)
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JetBlue Flight Hit Drone While Approaching JFK Airport, FAA Says
The Federal Aviation Administration has opened an investigation into a JetBlue flight that reported hitting a drone as it approached New York's John F. Kennedy International Airport. The FAA reported that the pilot of an Airbus A321, departing from Las Vegas at the time, reported the incident while the aircraft was on final approach. According to the U.S. regulator, the incident occurred around 7:15 am EDT. The airline reported that the flight landed safely, passengers deplaned as usual, and that the plane had been withdrawn from service after a post-flight check, during which no evidence of damage or collision was found. Port Authority of New York & New Jersey, the company that manages John F.?Kennedy?International Airport was not available to comment. Media reports say that the incident on Monday comes just days after a United Airlines flight, which was descending into Newark Liberty International Airport - another airport in the New York City area - encountered a drone. In late May, the Port Authority stated via email that it was prepared for an increased demand at all of its facilities, as the New York and New Jersey region will be hosting matches for the FIFA World Cup 2026 including the final match on July 19, On Monday, the U.S. Federal Bureau of Investigation announced on the social media website X that it had seized more than 500 drones in restricted airspace across 11 U.S. host city since the beginning of the soccer tournament. According to a FAA advisory, drones shouldn't be flown near airports because it is difficult for pilots?to see and avoid drones when flying. The FAA reported that it receives more than 100 reports of drone sightings near airports each month. The FAA warned that drone operators who are not authorized could be fined or even jailed. (Reporting and editing by Bill Berkrot, Nick Zieminski and Allison Lampert)
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JetBlue Flight Hit Drone While Approaching JFK Airport, FAA Says
The Federal Aviation Administration announced that it had?launched a probe after JetBlue reported a JetBlue plane?hitting an unmanned aerial vehicle while approaching New York's John F. Kennedy International Airport in New York on Monday. The FAA reported that the pilot of an Airbus A321, departing from Las Vegas at the time, had reported the incident while the plane was on final approach. According to the agency, the incident occurred around 7:15 am EDT. The airline reported that the flight landed without incident and customers deplaned as normal. A post-flight check found no evidence of damage or a collision. The Port Authority of New York and New Jersey, which manages John F. Kennedy International Airport was not available to comment immediately. Media reports say that the incident on Monday comes just days after United Airlines encountered a drone as it descended into Newark Liberty International Airport, another airport in the New York City area. According to a FAA advisory, drones shouldn't fly near airports. The FAA warns that it would be difficult for pilots flying in the air to avoid and see drones. The FAA reported that it receives more than 100 reports of drone sightings near airports each month. The FAA warned that drone operators who are not authorized could be fined or face jail time. The FAA stated that it wanted to "send a clear message" that operating drones near airplanes, helicopters and airports was dangerous and illegal. Reporting by Jasper Ward, Allison Lampert and Bill Berkrot. Editing by Bill Berkrot.
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Data shows that a new LNG tanker with Russian flag has started operations at a US-sponsored project
Data from LSEG showed that a newly Russian-flagged LNG Tanker - Arctic Express – has picked up a cargo from a floating storage unit used to 'trans-ship' gas from a 'project called Arctic LNG 2, a project which is subject to U.S. sanctions. Arctic LNG 2, originally planned to be Russia's biggest LNG plant with a final output of 19,8 million metric tonnes per year, continues its operations despite U.S. restrictions, with China as the main buyer. According to LSEG, Arctic 'Express' loaded a LNG cargo near the arctic port of Murmansk in June and headed west. The destination of the cargo was unclear. Arctic 'Express' was one of the two new LNG tanks?that have appeared on Russia's registry in recent weeks. According to Equasis, the tanker carried the Sierra Leone flag until May 1. Avacha, formerly T?Handan (flag of Panama), was the other tanker that has recently been added to the registry. These tankers were constructed in 2007 and 2008. Both vessels have been reflagged with the Russian flag. Russia added four more LNG carriers to their fleet a few months ago: Orion (Luch), Merkuriy (Merkuriy) and Kosmos. All four were built in 2005-2006 and transferred to new owners before being reflagged as Russian vessels. After the European Union banned imports of Russian LNG under short-term contracts on April 25, Moscow has sought to diversify its LNG supply. A ban on long-term agreements will be implemented by the EU on January 1, 2027. (Reporting and Editing by Susan Fenton).
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Austrian supreme court rules against Ryanair add-on fees
The Austrian Consumer Information Association (ACIA) announced on Monday that low-cost carrier Ryanair had lost a case in Austria's Supreme Court over certain?passenger charges, including a fee for airport check-in. Austria is the latest country to reject some of Ryanair’s charges. The airline announced last week that it would no longer charge parents for sitting with their children, after the British Competition Watchdog opened an inquiry into the policy. VKI, a consumer group, reported that an Austrian court on May 14 ruled that 14 clauses of Ryanair's Terms and Conditions are illegal. VKI brought the case for the Austrian government. The ruling relates to fees such as a EUR55 ($63), airport check-in fee, EUR15 for printing a boarding pass, EUR25 infant charge and a maximum EUR160 name change fee. The court found it problematic that certain charges can also be applied in cases where an airline may have been at fault. Petra Leupold is the head of VKI’s legal department. She said: "The Supreme Court has made it clear that additional charges should be transparent, and they shouldn't unfairly disadvantage consumers." VKI stated that the decision could allow passengers to claim fees they have already paid. Ryanair rejected some of the interpretations made by the consumer group and said that the court did not declare its pricing model illegal nor order retroactive reimbursements. VKI's spokesperson stated that they had failed to win such cases in two lower courts. The court ordered that?Ryanair cease using the clauses in Austria within 3 months.
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Fuel shortages are spreading to other parts of Russia due to the Ukrainian attack
Residents say that the U.Krainian attacks have caused fuel shortages in parts of southern Russia and even in Moscow. In nearly all of Russia, fuel purchases are now restricted. This is especially true in Russia-occupied Ukraine, southern Russia, and Siberia. Moscow and a few other mainly remote areas are the only ones without formal restrictions. However, even in the capital there are some stations that have been closed and others with long queues. At a Sunday meeting with government officials and other officials, President Vladimir Putin acknowledged that Ukrainian drone attacks had caused fuel shortages in certain regions. He said that Russia is dealing with the situation. Ukraine, in the recent weeks, has attacked supply lines in Crimea. This is a region that Russia annexed from Ukraine in 2014 and captured in 2014. The authorities have reduced hours of operation for public transport, cafes and fuel sales. On Monday, when the Crimean capital Sevastopol offered limited gasoline sales to the public, drivers queued up to pay 189 roubles per litre, nearly triple the normal price. Rostov-on Don, a city in southern Russia near the border of south-east Ukraine, is also experiencing shortages. There were some pump hoses that had "no fuel written on them". A petrol station displayed a sign that read "Fuel Sales?have?temporarily been suspended". Vladimir, who only gave his first name had tried to fill his motorbike with gas without success. "I was a courier. I quit my job. Thanks, everybody!" He said. According to the Moscow Fuel Association, in Moscow, where an?oil refinery was destroyed by a Ukrainian drone a week earlier, major filling stations operated by state-run oil companies have kept their prices largely unchanged. There have been fuel queues in some parts of the city. Prices at some privately-owned filling stations have increased by over 10%, to about 80 roubles per litre.
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There are some flights to the Middle East that have resumed but there is still disruption.
As diplomatic efforts to resolve the conflict that followed the U.S.-Israeli strikes on Iran gain momentum, some airlines are restoring their flights to certain parts of the Middle East. However, many carriers continue to suspend flights, causing global travel disruptions. The following is a list of the current status of flights by alphabetical order. AEGEAN AIRLINES Thessaloniki-Tel Aviv flights were resumed by Greece's largest airline on June 28. Dubai flights are suspended until August 31 and Erbil and Baghdad flights until September 30. AIRBALTIC AirBaltic, a Latvian airline, has suspended flights to Tel Aviv from June 28 to July 1, and will resume its operations on July 1. Dubai flights are cancelled until October 24, AIR CANADA Canadian Airlines has cancelled all flights to Tel Aviv, Dubai and Abu Dhabi until October 24. AIR EUROPA On June 29, the Spanish airline began flights to Tel Aviv. AIR FRANCE-KLM Air France has suspended flights to Tel Aviv until July 1, and flights to Dubai, Beirut and Lebanon until July 5. KLM has suspended flights from Riyadh to Dammam, Dubai and Dammam until August 9. CATHAY PACIFIC Hong Kong Airlines has suspended its flights to Dubai and Riyadh through August 31. The U.S. carrier suspended service for the Atlanta-Tel Aviv routes through December 18, 2018. The airline plans to resume New York-JFK-to-Tel Aviv flights starting September 6. However, the launch of Boston-Tel Aviv, originally planned for October, will be delayed until further notice. FINNAIR It has cancelled its Doha flights up to October 2 and continues to avoid the airspaces of Iraq, Iran Syria, and Israel. The airline will resume its Dubai flights in October, which are only operated during the winter. British Airways, owned by IAG, delayed the resumption to Doha flights until August 1, and Riyadh flights until August 8. Flights to Dubai and Tel Aviv are suspended until the end of summer. They are scheduled to resume on the 25th October. When it resumes, the airline plans to reduce flights to Dubai, Doha and Riyadh to just one flight per day, while dropping Jeddah from its list of destinations. JAPAN AIRLINES Japan Airlines has suspended its scheduled Tokyo-Doha and Doha-Tokyo flight until August 31, and Doha-Tokyo until September 1. Polish Airlines has suspended flights to Riyadh from June 30 to July 2, and will resume them on July 2. LOT will begin operating its winter route from Dubai in October, and resume its Beirut operations during the Summer of 2027. LUFTHANSA GROUP Lufthansa has announced that it will resume Tel Aviv flights as soon as July?1, whereas ITA Airways confirmed they would begin on July 1. SWISS delayed the return of flights to Tel Aviv until August, while Brussels Airlines suspended its operations until October 24. The suspension of Dubai flights by SWISS and Lufthansa will continue until September 13th. Lufthansa and SWISS have suspended flights until October 24 to Abu Dhabi, Amman Beirut Dammam Riyadh Erbil Muscat Tehran. Eurowings, a low-cost carrier, has suspended flights from Tel Aviv to Beirut and Erbil until July 9 and from Dubai to Abu Dhabi and Amman to October 24. ITA Airways also extended its suspension of flights to Riyadh and Dubai until October 24, for operational reasons. MALAYSIA AIRLINES From July 2, the Malaysian airline will resume limited service to Doha. NORWEGIAN AIR No new dates have been set for the low-cost carrier's planned launches of Tel Aviv and Beirut. ROYAL MAROC Moroccan airline announced that flights to Doha have been cancelled until 30 June. SINGAPORE Airlines In response to a 'higher demand,' the carrier has extended the suspension of its Singapore-Dubai flights until August 2. It will also add services on Singapore-London Gatwick and Singapore-Melbourne routes between late March and October 24. TURKISH AIRLINES SunExpress, Turkish Airlines’ joint venture with Lufthansa has cancelled flights from Dubai to Bahrain, Beirut, and Erbil up until July 14. WIZZ AIR Low-cost airlines have suspended flights from Europe to Dubai, Abu Dhabi, and Amman until mid-September. (Compiled by Josephine Mason and Jamie Freed. Elviira Louma, Tiago Branao, Agnieszka Olesska, Bernadette HOG, Boleslaw LaSocki, Alexander Klyve Gudbrandsen, Romolo Tosiani. Matt Scuffham and Sanjeev Mikleni edited the book.
UK's long-awaited Defence Plan allocates PS5 Billion to Drones
The UK will announce its long-delayed Defense Investing Plan on Tuesday. Priority is given to drones, with a particular focus on autonomous systems. This investment will help to'modernise and strengthen?its depleted military forces in a period of increasing threats.
The blueprint was subject to last-minute debate after John Healey, the former defence minister, resigned this month. Healey had criticized Keir starmer for his inability to raise funds to protect the country from threats.
Starmer has said that he too will quit. His successor is likely to be in office within a few weeks. This makes the DIP the last policy announcement of the Prime Minister.
Plan Focuses on Technology for Modern Warfare
According to a Monday statement, his plan will be centered on unmanned ships, unmanned submarines and autonomous systems, focusing on technology rather than warships to reflect the reality?of modern warfare as seen in Ukraine.
Starmer stated that "this game-changing investment" will strengthen our Armed Forces before a major address?on Tuesday, when the plan is published in its entirety.
After a 2025 defence review, he has pledged to increase defence spending from 2.6% to 3% in the next Parliament.
Defence chiefs have said that there will still be a PS28 billion funding gap in the next four-year period. The government's statement didn't provide any details on how the DIP plans to fill the shortfall. This is closely monitored by the industry.
DRONE WARFARE
Former British Army Major Dan Jarvis is Britain's new Defence Minister. He said that uncrewed system defined modern warfare. The DIP, which he helped to reshape over the past few weeks, will ensure that soldiers receive what they need quicker.
Ukraine uses 200,000 drones per month in its "war" against Russia. Technology innovations are made in weeks and not in years, as was the case with the large platforms that were the hallmark of British security during the post-Cold War period.
Companies say that the nine-month delay has hindered investment in an industry that should be on the rise. It has also led to private criticism abroad about whether Britain is willing or capable of increasing defence spending.
Starmer will be attending the NATO summit from 7 to 8 July in Ankara, alongside U.S. president Donald Trump and other alliance leaders. This is at a moment when Europe struggles to accept the U.S. shift away from its protection.
After an Iranian drone smashed into its airbase in Cyprus, Britain was left vulnerable.
Jarvis announced that Jarvis would also be introducing new high-speed boats to the commandos. (Reporting and editing by William Maclean, Sarah Young and Elizabeth Piper)
(source: Reuters)