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NDTV
2 hours ago
- NDTV
Air India Cancels Milan-Delhi Flight Due To Maintenance Issue
Mumbai: Tata Group-owned private carrier Air India on Sunday said it cancelled its Milan-Delhi flight of August 16 after detecting a maintenance issue at the last minute. Alternative arrangements are being made to fly the passengers to their destination at the earliest, Air India said in a statement. "Flight AI138 operating from Milan to Delhi on August 16 was cancelled due to a maintenance task identified during pushback," the statement said. "Our ground team in Milan extended immediate assistance to all the affected passengers, providing hotel accommodation and offering full refunds on cancellation or complimentary rescheduling as opted by the passengers," it said. According to Air India, along with the maintenance issue, the operating crew of the flight come under the mandatory flight duty-time limitation norms. Air India generally operates its Boeing 787-8/9 aircraft fleet to cater to European destinations. The airline, which came under private hands in January 2022, has, of late, been delaying, cancelling some flights at the last minute due to technical and maintenance issues. This is despite airline CEO and Managing Director Campbell Wilson repeatedly claiming that Air India has carried out comprehensive checks on its Boeing 787 aircraft fleet. A Delhi-bound Air India flight from Bhubaneswar was cancelled just prior to its departure on August 3 due to high cabin temperature. On July 31, an Air India Boeing 787-9 aircraft flying to London had to abort take-off at Delhi airport and return to the bay due to a technical issue. In a message to the customers recently, while listing out the various steps taken after the fatal crash of an AI-171 flight to London soon after take-off from the Ahmedabad airport, Wilson said detailed inspections of its Boeing 787-8 and 787-9 aircraft were done and "no issues were found during inspection".
Mint
2 hours ago
- Mint
Global markets face shaky week ahead as US pressure mounts on Ukraine
European leaders rush to support Ukraine in US talks Analysts link US-Russia ties to Arctic energy deals Oil and gas may enter "deep" bear market - BofA European defence spending to ramp up - Berenberg By Naomi Rovnick and Dhara Ranasinghe LONDON, Aug 17 (Reuters) - Defence stocks and energy markets are likely to be in focus this week, as European leaders rushed to back Ukraine in talks with U.S. President Donald Trump that may pressure Kyiv to accept a peace deal favouring Russia. Investors are watching for signs that the U.S. may move closer to Russia in a bid to exploit vast, untapped Arctic energy resources, in a major geopolitical shift that piles pressure on Europe to rapidly boost defence spending. Trump and Russian President Vladimir Putin ended their weekend summit in Alaska without securing a Ukraine ceasefire agreement, with the U.S. President then saying he now wanted a rapid peace deal that Kyiv should accept. Ukrainian President Volodymyr Zelenskiy is travelling to Washington on Monday for talks that leaders of nations including Germany, the UK and France will now join. "Trump seems inclined to reduce or even end US support for Ukraine. Putin got him interested in business deals," Berenberg Chief Economist Holger Schmieding said in a note to clients. "As a result, the US may lift its sanctions on Russia and invest in Russia instead," he added. "Europe will have to spend a lot more for its own defence." DEFENCE STOCK RALLY Investors have bet on that outcome since February 2022, driving a supercharged rally in European aerospace and defence stocks with gains of over 600% for Leonardo and 1,500% for Germany's Rheinmetall. The euro has rallied 13% against the dollar this year and traded at about $1.17 on Friday. Bank of America strategist Michael Hartnett highlighted the potential for U.S.-Russia Arctic drilling projects to exploit 15% of the world's undiscovered oil and 30% of the world's undiscovered natural gas, resulting in a deep energy bear market. Brent crude, which dropped more than 1% to near $66 a barrel, on Friday, was still priced for a Ukraine peace deal, Hartnett cautioned, while Trump wanted lower energy prices for U.S. consumers. Ukraine's government bonds - key mood indicators - rallied when news of the summit emerged earlier this month but have stalled at a still-distressed 55 cents per dollar. "I would think they will be a bit weaker following the recent strength as the mood seems to favour Russia following Friday's summit," Aegon Asset Management head of emerging market debt Jeff Grills said.
Time of India
2 hours ago
- Time of India
'Putin will not stop': Ex-US VP calls for additional sanctions on Russia; applauds Trump
Former US VP Mike Pence (Image: X/@Mike_Pence), Vladimir Putin with Donald Trump (AP image) Former vice-president Mike Pence on Sunday called on President Donald Trump to bring the 'hammer down' on Russian President Vladimir Putin and impose additional sanctions on Russia. Pence praised Trump for pursuing peace in Ukraine after his Alaska summit with Putin on Friday but urged him to intensify pressure to secure a peace deal. 'I served alongside the president for four years. I know his style in dealing with these dictators. It's the velvet glove, but I think the hammer needs to come, and it needs to come immediately,' Pence said. '[Trump] ought to pick up the phone and ask Majority Leader John Thune to immediately pass the secondary sanctions bill that is supported by virtually everyone in the United States Senate,' he added. Pence emphasized that the Russian president is 'the bad guy' and he should be treated as such during negotiations, as reported by news agency CNN. Senators Lindsey Graham and Richard Blumenthal have championed a sanctions bill against Russia with over 80 senators backing it. Trump dismissed the bill as unnecessary and instead issued an ultimatum to Putin, demanding that the Russian leader take steps toward peace by August 8 or face strict secondary sanctions and tariffs. Following a Kremlin meeting with Trump's special envoy Steve Witkoff, the president opted to hold a direct summit rather than impose immediate sanctions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo Pence warned that Putin might be trying to 'run out the clock' to postpone sanctions that could severely impact Russia's economy. He was not surprised that the historic meeting failed to produce a ceasefire agreement. 'There was an agreement by President Zelensky to a cease-fire back in February. Putin refused it. He's managed to delay the game,' the ex-VP said. 'All the while, his military has continued its brutal assault on civilian populations in Ukraine.' Secretary of State Marco Rubio defended the Trump administration against criticism of delaying sanctions, saying that acting too quickly could undermine ongoing peace negotiations. Trump is scheduled to meet Volodymyr Zelenskyy at the White House on Monday, with several European leaders joining the Ukrainian president's visit. Pence expressed hope that the meeting would be productive and foster unity among Western leaders. 'I'm also going to be praying that it's a productive time and a unifying time among all the leaders in the West and the president and President Zelenskyy,' Pence said.
