Egyptair orders six additional Airbus A350 aircraft
"It will enable us to meet rising demand for long-haul travel, support our network expansion plans over the next five years' Egyptair CEO Ahmed Adel said.
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Reuters
36 minutes ago
- Reuters
Delta, Aeromexico request extension to wrap up antitrust agreement
MEXICO CITY, Aug 12 (Reuters) - Carriers Delta (DAL.N), opens new tab and Aeromexico on Tuesday argued against winding down their antitrust agreement, as proposed by the U.S. Department of Transportation, while asking for an extension to do so if needed. The two, in a filing to authorities, requested the deadline be extended to March 28 of next year, the end of the sector's "winter season," from the current October 25.
Reuters
4 hours ago
- Reuters
US imposes sanctions on Congo armed group, mining firms over illicit minerals
Aug 12 (Reuters) - The United States on Tuesday announced sanctions against an armed group aligned with Congo's military as well as a Congolese mining company and two Hong Kong-based exporters over armed violence and the sale of critical minerals. The measures are the latest taken by the administration of President Donald Trump to try to bring peace to eastern Congo, where Rwanda-backed M23 rebels staged a lightning advance earlier this year, spurring violence that has killed thousands of people. The Treasury Department said it was putting sanctions on the Coalition des Patriotes Resistants Congolais-Forces de Frappe (PARECO-FF), a militia that it said controlled mining sites in the mineral-rich region of Rubaya from 2022 to 2024. Rubaya, now controlled by M23, produces 15% of the world's coltan, which is processed into a heat-resistant metal called tantalum that is in high demand from makers of mobile phones, computers and other applications in the electronics, aerospace and medical industries. The new sanctions, which restrict trade with U.S. companies and persons, also target the Congolese mining company Cooperative des Artisanaux Miniers du Congo (CDMC), which the Treasury Department said sold critical minerals smuggled from PARECO-FF areas of control, and the Hong Kong-based export companies East Rise Corporation Limited and Star Dragon Corporation Limited, which it said bought those minerals. A senior U.S. government official, speaking on condition of anonymity, said Washington was seeking to raise the cost of illicit trade "to make the licit trade that much more appealing." The Trump administration hopes an eventual peace deal will attract billions in Western investments to a region rich in tantalum, gold, cobalt, copper, lithium and other minerals. A report by a U.N. group of experts published last month said Congo's army had received support from PARECO-FF in late 2024 and early 2025. A Congolese government spokesperson and East Rise did not immediately respond to requests for comment on Tuesday. Star Dragon, CDMC and PARECO-FF could not be reached for comment. Jason Stearns, a Congo expert, said he was surprised that PARECO-FF, not M23, had been targeted in the new mining-related sanctions but said the move might be aimed at not derailing talks going on in Doha. Qatar is hosting direct talks between Congo and M23, while Washington is hosting talks between Congo and Rwanda. Congo, the United Nations and Western powers say Rwanda is supporting M23 by sending troops and arms. Rwanda has long denied helping M23 and says its forces are acting in self-defence against Congo's army and ethnic Hutu militiamen linked to the 1994 Rwandan genocide. The senior U.S. official acknowledged M23 was involved in the illicit trade of minerals and noted that M23 has already had sanctions placed on it by the U.S. and the United Nations. A U.S. sanctions announcement in January 2013 said M23 was "committing serious violations of international law involving the targeting of children in situations of armed conflict in the DRC, including killing and maiming, sexual violence, abduction, and forced displacement." It made no mention of minerals smuggling. Last year, the Treasury Department put sanctions on the broader Alliance Fleuve Congo rebel coalition, of which M23 is a central member. It has also sanctioned members of the M23 leadership. The senior U.S. official said the Trump administration's diplomacy was "progressing" and that sanctions were a way of targeting "spoilers" seeking to profit off the illicit mineral trade. It wanted all parties to realize there would be a brighter economic future if U.S. companies had confidence that they could invest in a "stable and peaceful" eastern Congo, the official said.
The Independent
5 hours ago
- The Independent
Spirit Airlines warns it could soon go out of business as Americans shy away from trips
Spirit Airlines warned Monday that despite emerging from bankruptcy and pursuing new revenue streams, it may not be able to stay in business over the next year. Just five months after emerging from Chapter 11 bankruptcy, its parent company, Spirit Aviation Holdings, says there is "substantial doubt" about the airline's ability to continue operating over the next year, according to its quarterly report published Monday. Despite efforts to restructure debt and secure new financing following its exit from bankruptcy in March, the airline faces continued challenges. Weak demand for domestic leisure travel and enduring operational uncertainties are among the critical pressures prompting the warning. By early Tuesday afternoon, Spirit's stock had plunged nearly 40 percent, trading at just above $2.20. The airline said it expects to continue 'for at least the remainder of 2025.' Famous for its no-frills, ultra-low-cost flights aboard bright yellow jets, Spirit has faced ongoing challenges regaining its footing and staying competitive since the COVID-19 pandemic. Escalating operating expenses and growing debt pushed the carrier to file for bankruptcy protection in November 2024, after racking up more than $2.5 billion in losses since early 2020. Spirit became the first major US airline to file for Chapter 11 bankruptcy since American Airlines did so in 2011. Spirit has implemented cost-saving measures, including furloughing 270 pilots and demoting 140 captains, with changes scheduled for October 1 and November 1 to align with anticipated flight volumes in 2026. The airline also plans to sell aircraft and real estate to generate much-needed cash. Spirit is also shifting strategy and rolling out tiered pricing with added amenities, aiming to appeal to higher-paying travelers and diversify beyond its traditional ultra-low-fare base. Previous talks of mergers or takeovers, by JetBlue or Frontier, have stalled, and Spirit has signaled no renewed interest in such moves since restructuring.
