3 days ago
GANDER, Newfoundland (AP) — Standing in the town that sheltered thousands of stranded Americans after the Sept. 11 attacks, former Canadian Prime Minister Jean Chrétien marked the 25th anniversary Friday with a pointed message for the United States: "Never mistake our generosity for weakness."
The 92-year-old former leader, who was prime minister at the time of the attacks, drew a standing ovation after telling his "American friends" that Canadians may be tolerant and kind but "we bow to no one." U.S. Ambassador to Canada Pete Hoekstra rose afterward and hugged him.
"I say that not in anger, but as one friend to another," Chrétien said. "Friends need to be honest with each other."
The unusually blunt remarks came during a solemn ceremony honoring the nearly 3,000 people killed in New York, at the Pentagon and aboard Flight 93, and remembering Gander's extraordinary response to the attacks.
Gander, Newfoundland opened its arms to nearly 6,600 airline passengers diverted there when the U.S. government shut down airspace during 9/11.
#attacks #former #tien #nearly
The 92-year-old former leader, who was prime minister at the time of the attacks, drew a standing ovation after telling his "American friends" that Canadians may be tolerant and kind but "we bow to no one." U.S. Ambassador to Canada Pete Hoekstra rose afterward and hugged him.
"I say that not in anger, but as one friend to another," Chrétien said. "Friends need to be honest with each other."
The unusually blunt remarks came during a solemn ceremony honoring the nearly 3,000 people killed in New York, at the Pentagon and aboard Flight 93, and remembering Gander's extraordinary response to the attacks.
Gander, Newfoundland opened its arms to nearly 6,600 airline passengers diverted there when the U.S. government shut down airspace during 9/11.
#attacks #former #tien #nearly
4 days ago
CHISINAU, Moldova (AP) — A flight that was scheduled to carry Ukrainian President Volodymyr Zelenskyy from Moldova to Norway earlier this week was delayed when authorities closed Moldova's airspace because of a drone incursion, a government spokesperson said.
Moldovan police said a Russian drone crashed on Tuesday in a sunflower field on the outskirts of a village in the district of Riscani, which caused four fires to break out but no injuries.
Government spokesperson Dumitru Ciorici said on Wednesday that Moldova had closed its airspace Tuesday afternoon to protect aircraft flying over the country at the time. The closure delayed three departures, including the flight carrying Zelenskyy.
Norwegian Prime Minister Jonas Gahr Støre told broadcaster NRK that Zelenskyy's plane "was nearly hit by a drone as it took off from Moldova" on its way to Oslo for King Harald V's funeral. Zelenskyy arrived in Oslo on Tuesday and met Støre to discuss potential support for Ukraine's air defenses before attending the king's funeral on Wednesday.
Moldovan authorities confirmed the drone came down and exploded 160 kilometers (100 miles) from Chisinau International Airport. The airspace restrictions were lifted and Zelenskyy's plane took off later than scheduled.
#drone
Moldovan police said a Russian drone crashed on Tuesday in a sunflower field on the outskirts of a village in the district of Riscani, which caused four fires to break out but no injuries.
Government spokesperson Dumitru Ciorici said on Wednesday that Moldova had closed its airspace Tuesday afternoon to protect aircraft flying over the country at the time. The closure delayed three departures, including the flight carrying Zelenskyy.
Norwegian Prime Minister Jonas Gahr Støre told broadcaster NRK that Zelenskyy's plane "was nearly hit by a drone as it took off from Moldova" on its way to Oslo for King Harald V's funeral. Zelenskyy arrived in Oslo on Tuesday and met Støre to discuss potential support for Ukraine's air defenses before attending the king's funeral on Wednesday.
Moldovan authorities confirmed the drone came down and exploded 160 kilometers (100 miles) from Chisinau International Airport. The airspace restrictions were lifted and Zelenskyy's plane took off later than scheduled.
#drone
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11 days ago
A banner flew over Paramount Studios that read, "Ellison is Trump's b----."
David Ellison, the CEO of Paramount Skydance, has courted controversy for leading the attempted takeover of Warner Bros. Discovery.
Ellison has denied reports that he **** ured Donald Trump he would tweak CNN to the president's liking should he gain control over the news network via the merger.
Paramount Skydance CEO David Ellison can't even look up to the heavens to escape criticism.
The embattled head of the media conglomerate was the subject of a vulgar message that was printed in capital letters and flown over Paramount Studios in Los Angeles on Thursday. "Ellison is Trump's b----!" read the message on a banner that a plane dragged back and forth across the airspace over the movie studio.
#message
David Ellison, the CEO of Paramount Skydance, has courted controversy for leading the attempted takeover of Warner Bros. Discovery.
Ellison has denied reports that he **** ured Donald Trump he would tweak CNN to the president's liking should he gain control over the news network via the merger.
Paramount Skydance CEO David Ellison can't even look up to the heavens to escape criticism.
The embattled head of the media conglomerate was the subject of a vulgar message that was printed in capital letters and flown over Paramount Studios in Los Angeles on Thursday. "Ellison is Trump's b----!" read the message on a banner that a plane dragged back and forth across the airspace over the movie studio.
#message
12 days ago
Russia launched a massive bombardment across Ukraine, targeting warehouses and damaging private homes, according to local officials. Ukraine's President Volodymyr Zelenskyy is vowing retaliation, warning that Russia's airspace will be swarmed with drones to ground flights and close air traffic. "Russian airspace will effectively closing," he said. NBC's Richard Engel reports for TODAY.
#airspace #president #richard #engel
#airspace #president #richard #engel
14 days ago
By Ben Blanchard
TAIPEI, Aug 31 (Reuters) - An increasingly unpredictable Beijing is tightening its grip on the air and sea around Taiwan, Taipei said in an annual review of the Chinese threat that also said China was learning lessons from issues faced by the United States in waging war on Iran.
China views democratically governed Taiwan as its own territory, has never renounced the use of force to bring the island under its control, and sends its military into the waters and airspace around Taiwan on an almost daily basis.
Taiwan's government rejects Beijing's sovereignty claims, saying only the island's people can decide their future. The United States supplies Taiwan with weapons while maintaining a policy of ambiguity about whether it would fight to defend it.
In its annual report on China's military threat, a copy of which was reviewed by Reuters, Taiwan's defence ministry said the regional security situation "continues to escalate", noting a "rising unpredictability" in China's decision-making due to an "unprecedented" purge of senior military officers.
#taiwan #China #around
TAIPEI, Aug 31 (Reuters) - An increasingly unpredictable Beijing is tightening its grip on the air and sea around Taiwan, Taipei said in an annual review of the Chinese threat that also said China was learning lessons from issues faced by the United States in waging war on Iran.
China views democratically governed Taiwan as its own territory, has never renounced the use of force to bring the island under its control, and sends its military into the waters and airspace around Taiwan on an almost daily basis.
Taiwan's government rejects Beijing's sovereignty claims, saying only the island's people can decide their future. The United States supplies Taiwan with weapons while maintaining a policy of ambiguity about whether it would fight to defend it.
In its annual report on China's military threat, a copy of which was reviewed by Reuters, Taiwan's defence ministry said the regional security situation "continues to escalate", noting a "rising unpredictability" in China's decision-making due to an "unprecedented" purge of senior military officers.
#taiwan #China #around
15 days ago
WASHINGTON (AP) — U.S. forces struck Iranian rocket launchers on the Strait of Hormuz in their first military action in a month on Sunday, breaking a lull in fighting during an intermittent war that has lasted more than six months. Iran swiftly vowed to retaliate for what it called a deadly attack.
Forces with the Revolutionary Guard Corps were observed preparing to launch rockets with sea mines into the strait, according to Tim Hawkins, a spokesperson for the U.S. Central Command. The U.S. military last week completed clearing sea mines from the strait's international shipping routes.
Semiofficial news outlets in Iran reported sounds of explosions near Larak island on the strait. The Guard in a statement carried by Iran's state broadcaster noted "the martyrdom and injury of several of our fighters and compatriots."
Later, Iranian state television showed what it said were ballistic missiles being fired by Iran at U.S. bases in Jordan in response to the American strikes. Jordan's armed forces said they intercepted eight missiles that penetrated the country's airspace early Monday.
A return to open conflict would be dangerous for the region, where Iran has targeted U.S. military bases and infrastructure in Gulf countries since the war began on Feb. 28.
#missiles
Forces with the Revolutionary Guard Corps were observed preparing to launch rockets with sea mines into the strait, according to Tim Hawkins, a spokesperson for the U.S. Central Command. The U.S. military last week completed clearing sea mines from the strait's international shipping routes.
Semiofficial news outlets in Iran reported sounds of explosions near Larak island on the strait. The Guard in a statement carried by Iran's state broadcaster noted "the martyrdom and injury of several of our fighters and compatriots."
Later, Iranian state television showed what it said were ballistic missiles being fired by Iran at U.S. bases in Jordan in response to the American strikes. Jordan's armed forces said they intercepted eight missiles that penetrated the country's airspace early Monday.
A return to open conflict would be dangerous for the region, where Iran has targeted U.S. military bases and infrastructure in Gulf countries since the war began on Feb. 28.
#missiles
22 days ago
TAIPEI, Aug 22 (Reuters) - A U.S. Navy P-8A Poseidon aircraft transited the Taiwan Strait in international airspace on Friday, in a move the U.S. 7th Fleet said "demonstrates the United States' commitment to a free and open Indo-Pacific".
The Chinese military tracked and monitored the patrol and reconnaissance aircraft throughout the transit, the state-backed Global Times newspaper reported, citing a military source, saying the "situation was under control".
U.S. military ships or aircraft every few months pass through or above the waterway that separates democratically governed Taiwan from China — missions that anger Beijing.
Chinese President Xi Jinping is expected to visit the United States next month to meet President Donald Trump as Washington and Beijing look to stabilise ties marred by issues including Taiwan, trade disputes and technology curbs.
"By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations," the 7th Fleet said in a statement.
#united #strait
The Chinese military tracked and monitored the patrol and reconnaissance aircraft throughout the transit, the state-backed Global Times newspaper reported, citing a military source, saying the "situation was under control".
U.S. military ships or aircraft every few months pass through or above the waterway that separates democratically governed Taiwan from China — missions that anger Beijing.
Chinese President Xi Jinping is expected to visit the United States next month to meet President Donald Trump as Washington and Beijing look to stabilise ties marred by issues including Taiwan, trade disputes and technology curbs.
"By operating within the Taiwan Strait in accordance with international law, the United States upholds the navigational rights and freedoms of all nations," the 7th Fleet said in a statement.
#united #strait
25 days ago
BUCHAREST, Aug 20 (Reuters) - Romania scrambled F-16 fighter jets to destroy a marine drone spotted a few hundred metres from the Black Sea gas project Neptun Deep, Defence Minister Radu Miruta said on Thursday.
The incident underscores the growing threat to critical energy infrastructure in the Black Sea from drones and mines linked to Russia's war in Ukraine, with Neptun Deep expected to make Romania the European Union's largest gas producer when it comes onstream in 2027.
NATO-member Romania shares a 614-km (382-mile) land border with Ukraine and has seen Russian drones breaching its airspace over the last four years and mines floating in the Black Sea across key trade and energy routes.
Thursday's incident follows similar action earlier this month when army divers destroyed two Gerbera-type drones drifting in the exclusive economic zone near the offshore Neptun Deep project.
"In order to protect the lives of the several hundred people working on the platform and to secure critical infrastructure, the decision was made to destroy (the marine drone)," Miruta said in a Facebook post on Thursday.
#neptun #ukraine #destroy
The incident underscores the growing threat to critical energy infrastructure in the Black Sea from drones and mines linked to Russia's war in Ukraine, with Neptun Deep expected to make Romania the European Union's largest gas producer when it comes onstream in 2027.
NATO-member Romania shares a 614-km (382-mile) land border with Ukraine and has seen Russian drones breaching its airspace over the last four years and mines floating in the Black Sea across key trade and energy routes.
Thursday's incident follows similar action earlier this month when army divers destroyed two Gerbera-type drones drifting in the exclusive economic zone near the offshore Neptun Deep project.
"In order to protect the lives of the several hundred people working on the platform and to secure critical infrastructure, the decision was made to destroy (the marine drone)," Miruta said in a Facebook post on Thursday.
#neptun #ukraine #destroy
25 days ago
A US Air Force flight bound for Antarctica returned to New Zealand after a warning about "potentially hazardous" ***** e activity, according to New Zealand authorities.
A spokesperson for New Zealand's Civil Aviation Authority (CAA) said the agency was aware the US Air Force flight from Christchurch turned around following a warning it issued, known as a NOTAM (Notice to Airmen).
The ***** e activity was notified to the agency by Russia's State Air Traffic Management Corporation, "resulting in the issuance of a NOTAM advising pilots of the hazard," CAA said in a statement Tuesday.
In a follow-up statement Wednesday, CAA said it was made aware by the Russian air traffic agency of a planned missile launch and "associated potential hazard to international airspace, within New Zealand's Oceanic Flight Information Region (FIR)," a 30-million-square-kilometer area which is one of the largest airspaces in the world.
CNN has reached out to the US Air Force, the US Antarctic Program and the Russian State Air Traffic Management Corporation.
#TRAFFIC #russian
A spokesperson for New Zealand's Civil Aviation Authority (CAA) said the agency was aware the US Air Force flight from Christchurch turned around following a warning it issued, known as a NOTAM (Notice to Airmen).
The ***** e activity was notified to the agency by Russia's State Air Traffic Management Corporation, "resulting in the issuance of a NOTAM advising pilots of the hazard," CAA said in a statement Tuesday.
In a follow-up statement Wednesday, CAA said it was made aware by the Russian air traffic agency of a planned missile launch and "associated potential hazard to international airspace, within New Zealand's Oceanic Flight Information Region (FIR)," a 30-million-square-kilometer area which is one of the largest airspaces in the world.
CNN has reached out to the US Air Force, the US Antarctic Program and the Russian State Air Traffic Management Corporation.
#TRAFFIC #russian
29 days ago
By Pavel Polityuk and Felix Light
Aug 16 (Reuters) - Russia carried out a wave of airstrikes on Ukraine overnight, killing two people at a steel plant, and Kyiv launched a heavy drone attack on the Moscow region that killed one person and set ablaze a warehouse used by Russia's leading e-commerce retailer.
Romania, which borders Ukraine, said an F-18 fighter on a NATO air policing mission had shot down a drone that breached its airspace during the latest attacks. It did not specify the origin of the drone, which entered from Moldova, but a NATO spokesperson said it appeared to be Russian.
Russia struck Ukraine's largest grain export port on the River Danube near the Romanian border last week after stepping up attacks on Ukraine in recent weeks. Ukraine has also intensified attacks on Russian targets including oil refineries, and both sides have struck commercial vessels in the Black Sea.
In the latest attacks since Russia's invasion of Ukraine in February 2022, Russian forces struck Ukraine's biggest steel plant overnight in the industrial city of Kryvyi Rih, President Volodymyr Zelenskiy's home town.
#russian
Aug 16 (Reuters) - Russia carried out a wave of airstrikes on Ukraine overnight, killing two people at a steel plant, and Kyiv launched a heavy drone attack on the Moscow region that killed one person and set ablaze a warehouse used by Russia's leading e-commerce retailer.
Romania, which borders Ukraine, said an F-18 fighter on a NATO air policing mission had shot down a drone that breached its airspace during the latest attacks. It did not specify the origin of the drone, which entered from Moldova, but a NATO spokesperson said it appeared to be Russian.
Russia struck Ukraine's largest grain export port on the River Danube near the Romanian border last week after stepping up attacks on Ukraine in recent weeks. Ukraine has also intensified attacks on Russian targets including oil refineries, and both sides have struck commercial vessels in the Black Sea.
In the latest attacks since Russia's invasion of Ukraine in February 2022, Russian forces struck Ukraine's biggest steel plant overnight in the industrial city of Kryvyi Rih, President Volodymyr Zelenskiy's home town.
#russian
1 month ago
Five years ago, Wisk Aero sued Archer Aviation Inc. (NYSE:ACHR) for allegedly stealing its trade secrets. On August 10, Archer agreed to buy Wisk entirely, along with two other The Boeing Company (NYSE:BA) subsidiaries, in a deal that gives the aerospace giant a roughly 20% interest in the electric-aircraft company it previously accused of corporate theft. Archer's stock jumped by about 20% following the announcement.
Wisk sued Archer back in 2021, alleging that the younger company stole its autonomous-flight trade secrets and breached on its patents. The two reached an agreement in August 2023, with a unique twist: The Boeing Company (NYSE:BA) invested in Archer Aviation Inc. (NYSE:ACHR), and the companies formed an autonomous-flight relationship, with Wisk serving as Archer's exclusive autonomy provider for subsequent aircraft.
That collaboration has now turned into a complete acquisition. Under the definitive agreement, Archer Aviation Inc. (NYSE:ACHR) will buy Wisk Aero, SkyGrid, a digital airspace and air-traffic-management software firm, and Insitu, a drone producer, in an all-stock transaction.
The Boeing Company (NYSE:BA) will acquire freshly issued ACHR Class A shares equal to 19.75% of Archer's outstanding shares immediately before to closing, leaving Boeing with about 16.5% in stakes once the transaction closes, making it Archer's largest outside stakeholder. The Boeing Company (NYSE:BA) has also agreed to spend up to $55 million in an upcoming Archer investment round, and will obtain warrants to buy up to $200 million additional Archer stock in the future. In exchange, the companies have signed a cross-licensing agreement that allows Boeing to continue using Wisk's fundamental autonomous flight systems for its own commercial and defense programs, a detail experts have linked to Boeing's ultimate successor to the 737.
For Archer Aviation Inc. (NYSE:ACHR), the deal is less about eliminating a competitor than about expanding. The acquisition includes a defense firm with an annual revenue of more than $200 million across 35 nations, as well as Wisk's six generations of eVTOL aircraft designs and over 1,700 completed test flights. Archer describes the combined operation as a "end-to-end physical AI platform for aerospace and defense."
#archer
Wisk sued Archer back in 2021, alleging that the younger company stole its autonomous-flight trade secrets and breached on its patents. The two reached an agreement in August 2023, with a unique twist: The Boeing Company (NYSE:BA) invested in Archer Aviation Inc. (NYSE:ACHR), and the companies formed an autonomous-flight relationship, with Wisk serving as Archer's exclusive autonomy provider for subsequent aircraft.
That collaboration has now turned into a complete acquisition. Under the definitive agreement, Archer Aviation Inc. (NYSE:ACHR) will buy Wisk Aero, SkyGrid, a digital airspace and air-traffic-management software firm, and Insitu, a drone producer, in an all-stock transaction.
The Boeing Company (NYSE:BA) will acquire freshly issued ACHR Class A shares equal to 19.75% of Archer's outstanding shares immediately before to closing, leaving Boeing with about 16.5% in stakes once the transaction closes, making it Archer's largest outside stakeholder. The Boeing Company (NYSE:BA) has also agreed to spend up to $55 million in an upcoming Archer investment round, and will obtain warrants to buy up to $200 million additional Archer stock in the future. In exchange, the companies have signed a cross-licensing agreement that allows Boeing to continue using Wisk's fundamental autonomous flight systems for its own commercial and defense programs, a detail experts have linked to Boeing's ultimate successor to the 737.
For Archer Aviation Inc. (NYSE:ACHR), the deal is less about eliminating a competitor than about expanding. The acquisition includes a defense firm with an annual revenue of more than $200 million across 35 nations, as well as Wisk's six generations of eVTOL aircraft designs and over 1,700 completed test flights. Archer describes the combined operation as a "end-to-end physical AI platform for aerospace and defense."
#archer
1 month ago
Archer Aviation (ACHR) shares ripped higher on Monday morning after the electric vertical take-off and landing (eVTOL) specialist announced a landmark deal with Boeing (BA). Under the agreement, ACHR will acquire three Boeing subsidiaries — autonomous eVTOL rival Wisk Aero, defense system maker Insitu, and airspace management software firm SkyGrid — in an all-stock transaction that increases Boeing's equity stake in Archer to 19.75%.
Archer Aviation stock has reversed half of its intraday gains in recent hours, but is still up roughly 38% versus its year-to-date low.
Don't ***** ume Micron Will Share SanDisk's Fate. Here's Why.
The Nvidia-SpaceX Deal Is Sending a Clear Signal on AI Dominance
Shaq Says His Dad Treated Him to White Castle, But When He Saw Homeless Man With a Sign, He Gave 3 of His Burgers to the Guy — 'Always Look Out for the Little Man'
#boeing #Monday
Archer Aviation stock has reversed half of its intraday gains in recent hours, but is still up roughly 38% versus its year-to-date low.
Don't ***** ume Micron Will Share SanDisk's Fate. Here's Why.
The Nvidia-SpaceX Deal Is Sending a Clear Signal on AI Dominance
Shaq Says His Dad Treated Him to White Castle, But When He Saw Homeless Man With a Sign, He Gave 3 of His Burgers to the Guy — 'Always Look Out for the Little Man'
#boeing #Monday
2 months ago
A Russian missile violated Polish airspace on Thursday, a NATO official told Business Insider.
Ukrainian jets tried to destroy the Russian missiles before any crossed into Poland, Warsaw said.
The missile flew for six minutes before crashing roughly 60 miles deep into Poland.
Ukrainian fighter jets tried to shoot down Russian missiles near the border with Poland on Thursday; however, at least one breached Polish airspace, Western officials said.
US Army Col. Martin O'Donnell, a spokesperson for NATO's Supreme Headquarters Allied Powers Europe, told Business Insider NATO and Poland activated their air and ground defenses "in response to a Russian missile of currently unknown type that entered Polish airspace" and crashed inside the country.
#russian #polish #missile #insider
Ukrainian jets tried to destroy the Russian missiles before any crossed into Poland, Warsaw said.
The missile flew for six minutes before crashing roughly 60 miles deep into Poland.
Ukrainian fighter jets tried to shoot down Russian missiles near the border with Poland on Thursday; however, at least one breached Polish airspace, Western officials said.
US Army Col. Martin O'Donnell, a spokesperson for NATO's Supreme Headquarters Allied Powers Europe, told Business Insider NATO and Poland activated their air and ground defenses "in response to a Russian missile of currently unknown type that entered Polish airspace" and crashed inside the country.
#russian #polish #missile #insider
2 months ago
BUCHAREST, Romania (AP) — Since Russia's full invasion of Ukraine in February 2022, the war has repeatedly spilled across Romania's border as drones violate the airspace of the neighboring European Union and NATO member.
Now Romania is trying something new to stop the incursions: shooting down the drones.
Romanian pilots shot down the first of three drones in as many days from F-16 fighter jets starting Friday as Russia intensified attacks against Ukraine near the border. After determining the drones were of Russian origin, Romania summoned Moscow's ambassador in protest and expelled a Russian diplomat on Monday.
Drones have crossed into Romanian territory multiple times from Ukraine to the north and east, including in May when a drone injured a mother and child after crashing into an apartment block in the eastern town of Galati along the Danube River.
Romanian authorities largely responded by scrambling jets, collecting debris, erecting fallout shelters near the border and frequently admonishing Moscow for its war spilling into its territory.
#drones #romanian #border #territory
Now Romania is trying something new to stop the incursions: shooting down the drones.
Romanian pilots shot down the first of three drones in as many days from F-16 fighter jets starting Friday as Russia intensified attacks against Ukraine near the border. After determining the drones were of Russian origin, Romania summoned Moscow's ambassador in protest and expelled a Russian diplomat on Monday.
Drones have crossed into Romanian territory multiple times from Ukraine to the north and east, including in May when a drone injured a mother and child after crashing into an apartment block in the eastern town of Galati along the Danube River.
Romanian authorities largely responded by scrambling jets, collecting debris, erecting fallout shelters near the border and frequently admonishing Moscow for its war spilling into its territory.
#drones #romanian #border #territory
2 months ago
Long-term contract rates businesses pay to move air freight are expected to rise 5% to 15% this year, instead of retreating, because the resumption of hostilities between Iran and the United States is once again reducing airline capacity through the critical Middle East corridor, freight ***** ytics firm Xeneta said in a market outlook published on Friday.
Xeneta's initial forecast at the start of the year was for contract rates to fall 5% to 10% in 2026.
Strong demand for semiconductors and AI-related hardware helped push air cargo demand to 7% year-over-year growth in June. AI technology represents about 10% of total air cargo volume. The June volume growth was well ahead of expectations and supply, which grew 3% with the return of capacity suspended by the Middle East disruption. The demand-supply imbalance pushed aircraft utilization up 3 points to 62%, which influenced the higher rates.
But market dynamics since Xeneta's monthly report on July 2 are quickly changing again after the United States and Iran broke a shaky ceasefire last week.
The start of the Iran war on Feb. 28 immediately forced more than 12% of global air cargo capacity — in passenger belly holds and freighter aircraft — out of service because of airspace and airport closures, flight cancellations and reduced frequencies, and longer transit times for rerouting to avoid war risk. Initial capacity reductions were close to 20%, according to consultancy Rotate.
Xeneta's initial forecast at the start of the year was for contract rates to fall 5% to 10% in 2026.
Strong demand for semiconductors and AI-related hardware helped push air cargo demand to 7% year-over-year growth in June. AI technology represents about 10% of total air cargo volume. The June volume growth was well ahead of expectations and supply, which grew 3% with the return of capacity suspended by the Middle East disruption. The demand-supply imbalance pushed aircraft utilization up 3 points to 62%, which influenced the higher rates.
But market dynamics since Xeneta's monthly report on July 2 are quickly changing again after the United States and Iran broke a shaky ceasefire last week.
The start of the Iran war on Feb. 28 immediately forced more than 12% of global air cargo capacity — in passenger belly holds and freighter aircraft — out of service because of airspace and airport closures, flight cancellations and reduced frequencies, and longer transit times for rerouting to avoid war risk. Initial capacity reductions were close to 20%, according to consultancy Rotate.
2 months ago
L3Harris Technologies, Inc. (NYSE:LHX) is one of the Best ****** e Technology Stocks to Buy Now. Recently, on July 1, L3Harris Technologies, Inc. (NYSE:LHX) announced receiving an FAA contract to upgrade and operate the nation's aircraft tracking network through 2045.
Management noted that under this contract, the company will modernize more than 700 ground stations. These stations provide real-time, satellite-based flight positioning data to air traffic controllers nationwide. Moreover, the company will also deploy advanced cybersecurity to protect airspace data and expand surveillance to track new types of aircraft entering the National Airspace System.
Management also highlighted that the company already runs the world's largest terrestrial air traffic surveillance network. The company also integrates thousands of data sources for hundreds of FAA and government facilities.
That said, the Street remains bullish on the stock, with ****** ysts' 12-month price target suggesting more than 28.4% upside from the current level.
While we acknowledge the potential of LHX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
Management noted that under this contract, the company will modernize more than 700 ground stations. These stations provide real-time, satellite-based flight positioning data to air traffic controllers nationwide. Moreover, the company will also deploy advanced cybersecurity to protect airspace data and expand surveillance to track new types of aircraft entering the National Airspace System.
Management also highlighted that the company already runs the world's largest terrestrial air traffic surveillance network. The company also integrates thousands of data sources for hundreds of FAA and government facilities.
That said, the Street remains bullish on the stock, with ****** ysts' 12-month price target suggesting more than 28.4% upside from the current level.
While we acknowledge the potential of LHX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
2 months ago
CAIRO (AP) — The Iran-backed Houthi rebels in Yemen said they launched missiles and drones at Saudi Arabia's Abha International Airport on Monday in response to airstrikes they blamed on Saudi Arabia that struck Sanaa International Airport earlier in the day.
No casualties were reported, but the attacks marked an escalation not seen since a Saudi-led coalition struck Houthi-controlled areas several years ago. Saudi Arabian officials did not immediately respond to a request for comment about the airstrikes in Yemen.
Houthi military spokesman Brig. Gen. Yahya Saree, in a video statement on Telegram, warned airlines against flying through Saudi airspace, saying these warnings should be taken "seriously until the blockade on Sanaa International Airport is lifted."
The internationally recognized government in Yemen said earlier that the strikes that hit Sanaa International Airport were meant to prevent an Iranian plane from landing.
The Houthis vowed to retaliate for the strike, which marked the first major escalation between the Houthis and Saudi Arabia following a period of relative calm.
No casualties were reported, but the attacks marked an escalation not seen since a Saudi-led coalition struck Houthi-controlled areas several years ago. Saudi Arabian officials did not immediately respond to a request for comment about the airstrikes in Yemen.
Houthi military spokesman Brig. Gen. Yahya Saree, in a video statement on Telegram, warned airlines against flying through Saudi airspace, saying these warnings should be taken "seriously until the blockade on Sanaa International Airport is lifted."
The internationally recognized government in Yemen said earlier that the strikes that hit Sanaa International Airport were meant to prevent an Iranian plane from landing.
The Houthis vowed to retaliate for the strike, which marked the first major escalation between the Houthis and Saudi Arabia following a period of relative calm.
2 months ago
ANKARA, July 8 (Reuters) - U.S. President Donald Trump said on Wednesday at a NATO summit he had ordered his Treasury Secretary Scott Bessent to cut off all trade with Spain, calling Madrid a "terrible partner" in the alliance.
Trump, speaking alongside NATO Secretary General Mark Rutte at the start of the summit in Ankara, said he wanted no business with Spain.
Trump has repeatedly expressed frustration with Spain, which has not agreed to NATO's new defence spending target of 5% of GDP and whose Socialist leadership refused to let the U.S. use its airspace or bases on its territory for the Iran war.
"Spain doesn't agree to anything, and you shouldn't carry them," Trump told Rutte.
"I don't want to do any trade with them, alright?" he said, turning to Bessent, who replied: "Yes, sir."
Trump, speaking alongside NATO Secretary General Mark Rutte at the start of the summit in Ankara, said he wanted no business with Spain.
Trump has repeatedly expressed frustration with Spain, which has not agreed to NATO's new defence spending target of 5% of GDP and whose Socialist leadership refused to let the U.S. use its airspace or bases on its territory for the Iran war.
"Spain doesn't agree to anything, and you shouldn't carry them," Trump told Rutte.
"I don't want to do any trade with them, alright?" he said, turning to Bessent, who replied: "Yes, sir."
2 months ago
Interested in Flywire Corporation? Here are five stocks we like better.
A potential U.S.-Iran ceasefire could boost consumer confidence, lower fuel costs, and restore flight routes, benefiting select travel-related stocks.
Flywire reported 41% year-over-year revenue growth in Q1 2026 and ***** ysts project earnings growth of about 111% in the coming year.
Airbnb's revenue rose 18% year-over-year to $2.7 billion, and the company estimates the Middle East conflict weighed about 100 basis points on nights and seats.
Throughout the Iran war over the last several months, global travel has been affected, with impacts ranging from shifts in airspace usage to increased fuel costs and even changes in traveler behavior, as some have chosen to postpone international trips due to safety or cost concerns. Although it remains to be seen at the start of H2 2026 how the conflict between the United States and Iran may continue or be resolved, a post-ceasefire scenario may lead to increased stability in the travel industry.
A potential U.S.-Iran ceasefire could boost consumer confidence, lower fuel costs, and restore flight routes, benefiting select travel-related stocks.
Flywire reported 41% year-over-year revenue growth in Q1 2026 and ***** ysts project earnings growth of about 111% in the coming year.
Airbnb's revenue rose 18% year-over-year to $2.7 billion, and the company estimates the Middle East conflict weighed about 100 basis points on nights and seats.
Throughout the Iran war over the last several months, global travel has been affected, with impacts ranging from shifts in airspace usage to increased fuel costs and even changes in traveler behavior, as some have chosen to postpone international trips due to safety or cost concerns. Although it remains to be seen at the start of H2 2026 how the conflict between the United States and Iran may continue or be resolved, a post-ceasefire scenario may lead to increased stability in the travel industry.
10 months ago
Venezuela slams U.S. military buildup as Trump says he's spoken with Maduro
US President Donald Trump confirmed Sunday he had recently spoken with Venezuelan leader Nicolas Maduro amid soaring tensions between the two countries, while Caracas slammed what it called US preparations for an attack.
The United States is piling the pressure on Venezuela, with a major military buildup in the Caribbean, the designation of an alleged drug cartel run by Maduro as a terrorist group, and an ominous warning from Trump that Venezuelan airspace is "closed."
Washington says the aim of the military deplo
US President Donald Trump confirmed Sunday he had recently spoken with Venezuelan leader Nicolas Maduro amid soaring tensions between the two countries, while Caracas slammed what it called US preparations for an attack.
The United States is piling the pressure on Venezuela, with a major military buildup in the Caribbean, the designation of an alleged drug cartel run by Maduro as a terrorist group, and an ominous warning from Trump that Venezuelan airspace is "closed."
Washington says the aim of the military deplo
