Latest news with #BrentNorthSea
Daily Tribune
2 days ago
- Business
- Daily Tribune
Airlines less optimistic for 2025, facing ‘headwinds': IATA
Airlines yesterday revised down their traffic and profit forecasts for 2025, citing 'headwinds' for the global economy, with industry chiefs warning of the risk of increased tariffs impacting the sector. The International Air Transport Association (IATA) estimates fewer than five billion air journeys will take place this year, compared with the previously forecast 5.22 billion. 'The first half of 2025 has brought significant uncertainties to global markets,' IATA's Director General Willie Walsh told its annual general meeting in New Delhi. But he added: 'Considering the headwinds, it's a strong result that demonstrates the resilience that airlines have worked hard to fortify.' Cumulative airline profits will reach $36 billion this year, $600 million less than expected, IATA said. Commercial aviation revenues are expected to remain below the $1 trillion forecast in the previous December projections, with IATA now reporting $979 billion. Walsh, addressing IATA delegates, called for the aviation sector to be spared from increased tariffs -- though he did not name US President Donald Trump, who unveiled sweeping duties on trading partners in April. 'Trade tensions' While looking at profits, Walsh warned that 'perspective is critical' to put industry-wide figures into context, saying that per passenger, it was still a narrow margin. 'It's still a thin buffer and any new tax, increase in airport or navigation charge, demand shock or costly regulation will quickly put the industry's resilience to the test,' he said. 'Policymakers who rely on airlines as the core of a value chain that employs 86.5 million people and supports 3.9 percent of global economic activity must keep this clearly in focus.' The organisation also expects 69 million tonnes of cargo to be transported by air this year, down from the 72.5 million previously expected. A barrel of Brent North Sea crude, the international benchmark, stands below $65 as a result of Trump's tariffs, his call to 'drill baby drill' and especially a decision by OPEC+ to hike crude output quotas. This represents an immediate boon for airlines. Jet fuel is expected to average $86 a barrel in 2025, well below the $99 average in 2024, 'accounting for 25.8 percent of all operating costs', IATA added. The 2025 total fuel bill of $236 billion is $25 billion lower than in 2024. Among the 'risks' weighing on commercial aviation, IATA identified conflicts such as the war in Ukraine, as well as 'trade tensions'. 'Tariffs and prolonged trade wars dampen demand for air cargo and potentially travel,' IATA said. 'Additionally, the uncertainty over how the Trump administration's trade policies will evolve could hold back critical business decisions that drive economic activity, and with it the demand for air cargo and business travel.'
Qatar Tribune
2 days ago
- Business
- Qatar Tribune
Airlines less optimistic for 2025, facing ‘headwinds': IATA
Agencies Airlines on Monday revised down their traffic and profit forecasts for 2025, citing 'headwinds' for the global economy, with industry chiefs warning of the risk of increased tariffs impacting the sector. The International Air Transport Association (IATA) estimates fewer than five billion air journeys will take place this year, compared with the previously forecast 5.22 billion. 'The first half of 2025 has brought significant uncertainties to global markets,' IATA's Director General Willie Walsh told its annual general meeting in New Delhi. But he added: 'Considering the headwinds, it's a strong result that demonstrates the resilience that airlines have worked hard to fortify.' Cumulative airline profits will reach $36 billion this year, $600 million less than expected, IATA said. Commercial aviation revenues are expected to remain below the $1 trillion forecast in the previous December projections, with IATA now reporting $979 billion. Walsh, addressing IATA delegates, called for the aviation sector to be spared from increased tariffs -- though he did not name U.S. President Donald Trump, who unveiled sweeping duties on trading partners in April. While looking at profits, Walsh warned that 'perspective is critical' to put industry-wide figures into context, saying that per passenger, it was still a narrow margin. 'It's still a thin buffer and any new tax, increase in airport or navigation charge, demand shock or costly regulation will quickly put the industry's resilience to the test,' he said. 'Policymakers who rely on airlines as the core of a value chain that employs 86.5 million people and supports 3.9 percent of global economic activity must keep this clearly in focus.' The organization also expects 69 million tonnes of cargo to be transported by air this year, down from the 72.5 million previously expected. A barrel of Brent North Sea crude, the international benchmark, stands below $65 as a result of Trump's tariffs, his call to 'drill baby drill' and especially a decision by OPEC+ to hike crude output quotas. This represents an immediate boon for airlines. Jet fuel is expected to average $86 a barrel in 2025, well below the $99 average in 2024, 'accounting for 25.8 percent of all operating costs', IATA added. The 2025 total fuel bill of $236 billion is $25 billion lower than in 2024. Among the 'risks' weighing on commercial aviation, IATA identified conflicts such as the war in Ukraine, as well as 'trade tensions'. 'Tariffs and prolonged trade wars dampen demand for air cargo and potentially travel,' IATA said. 'Additionally, the uncertainty over how the Trump administration's trade policies will evolve could hold back critical business decisions that drive economic activity, and with it the demand for air cargo and business travel.'
Japan Today
3 days ago
- Business
- Japan Today
Airlines less optimistic for 2025, facing 'headwinds': IATA
IATA boss Willie Walsh called for the aviation sector to be spared from increased tariffs By Tangi QUEMENER Airlines on Monday revised down their traffic and profit forecasts for 2025, citing "headwinds" for the global economy, with industry chiefs warning of the risk of increased tariffs impacting the sector. The International Air Transport Association (IATA) estimates fewer than five billion air journeys will take place this year, compared with the previously forecast 5.22 billion. "The first half of 2025 has brought significant uncertainties to global markets," IATA's Director General Willie Walsh told its annual general meeting in New Delhi. But he added: "Considering the headwinds, it's a strong result that demonstrates the resilience that airlines have worked hard to fortify." Cumulative airline profits will reach $36 billion this year, $600 million less than expected, IATA said. Commercial aviation revenues are expected to remain below the $1 trillion forecast in the previous December projections, with IATA now reporting $979 billion. Walsh, addressing IATA delegates, called for the aviation sector to be spared from increased tariffs -- though he did not name U.S. President Donald Trump, who unveiled sweeping duties on trading partners in April. While looking at profits, Walsh warned that "perspective is critical" to put industry-wide figures into context, saying that per passenger, it was still a narrow margin. "It's still a thin buffer and any new tax, increase in airport or navigation charge, demand shock or costly regulation will quickly put the industry's resilience to the test," he said. "Policymakers who rely on airlines as the core of a value chain that employs 86.5 million people and supports 3.9 percent of global economic activity must keep this clearly in focus." The organization also expects 69 million tonnes of cargo to be transported by air this year, down from the 72.5 million previously expected. A barrel of Brent North Sea crude, the international benchmark, stands below $65 as a result of Trump's tariffs, his call to "drill baby drill" and especially a decision by OPEC+ to hike crude output quotas. This represents an immediate boon for airlines. Jet fuel is expected to average $86 a barrel in 2025, well below the $99 average in 2024, "accounting for 25.8 percent of all operating costs", IATA added. The 2025 total fuel bill of $236 billion is $25 billion lower than in 2024. Among the "risks" weighing on commercial aviation, IATA identified conflicts such as the war in Ukraine, as well as "trade tensions". "Tariffs and prolonged trade wars dampen demand for air cargo and potentially travel," IATA said. "Additionally, the uncertainty over how the Trump administration's trade policies will evolve could hold back critical business decisions that drive economic activity, and with it the demand for air cargo and business travel." © 2025 AFP
IOL News
3 days ago
- Business
- IOL News
Airlines less optimistic for 2025, facing 'headwinds': IATA
Willie Walsh, Director General of the International Air Transport Association (IATA), speaks during a press conference at the IATA annual general meeting and World Air Transport Summit (WATS) in New Delhi on June 2, 2025 Image: AFP Airlines on Monday revised down their traffic and profit forecasts for 2025, citing "headwinds" for the global economy, with industry chiefs warning of the risk of increased tariffs impacting the sector. The International Air Transport Association (IATA) estimates fewer than five billion air journeys will take place this year, compared with the previously forecast 5.22 billion. "The first half of 2025 has brought significant uncertainties to global markets," IATA's Director General Willie Walsh told its annual general meeting in New Delhi. But he added: "Considering the headwinds, it's a strong result that demonstrates the resilience that airlines have worked hard to fortify." Cumulative airline profits will reach $36 billion (R646bn) this year, $600 million less than expected, IATA said. Commercial aviation revenues are expected to remain below the $1 trillion forecast in the previous December projections, with IATA now reporting $979bn. Walsh, addressing IATA delegates, called for the aviation sector to be spared from increased tariffs - though he did not name US President Donald Trump, who unveiled sweeping duties on trading partners in April. 'Trade tensions' While looking at profits, Walsh warned that "perspective is critical" to put industry-wide figures into context, saying that per passenger, it was still a narrow margin. "It's still a thin buffer and any new tax, increase in airport or navigation charge, demand shock or costly regulation will quickly put the industry's resilience to the test," he said. "Policymakers who rely on airlines as the core of a value chain that employs 86.5 million people and supports 3.9 percent of global economic activity must keep this clearly in focus." The organisation also expects 69 million tonnes of cargo to be transported by air this year, down from the 72.5 million previously expected. A barrel of Brent North Sea crude, the international benchmark, stands below $65 as a result of Trump's tariffs, his call to "drill baby drill" and especially a decision by OPEC+ to hike crude output quotas. This represents an immediate boon for airlines. Jet fuel is expected to average $86 a barrel in 2025, well below the $99 average in 2024, "accounting for 25.8 percent of all operating costs", IATA added. The 2025 total fuel bill of $236 billion is $25 billion lower than in 2024. Among the "risks" weighing on commercial aviation, IATA identified conflicts such as the war in Ukraine, as well as "trade tensions". "Tariffs and prolonged trade wars dampen demand for air cargo and potentially travel," IATA said. "Additionally, the uncertainty over how the Trump administration's trade policies will evolve could hold back critical business decisions that drive economic activity, and with it the demand for air cargo and business travel." AFP
Nahar Net
4 days ago
- Business
- Nahar Net
Main US oil contract price surges on geopolitical tensions
by Naharnet Newsdesk 02 June 2025, 16:46 Oil prices rose sharply on Monday amid concerns about Russia's war in Ukraine and Iran nuclear talks, along with market relief that OPEC+ did not increase crude production as much as some had feared. At around 1325 GMT, the U.S. benchmark barrel of West Texas Intermediate for July delivery was up 4.87 percent at $62.75, having briefly exceeded five percent. Brent North Sea crude for August delivery was up 4.51 percent at $65.61 a barrel.
