Latest news with #Trans-Atlantic
Miami Herald
22-05-2025
- Business
- Miami Herald
Airline deals, new flights and more style — even caviar — await summer travelers
A record number of Floridians will travel at least 50 miles from home over the coming Memorial Day weekend, echoing a trend expected across the nation with more than 45 million taking advantage of the holiday, AAA estimates. But the three-day weekend is also the unofficial start of summer and a time for airlines to offer new promotions, flights or amenities. Even Spirit Airlines is getting into the, shall we say spirit, by announcing plans to offer more legroom. AAdvantage miles American Airlines, Miami International Airport's most important carrier, has a promotion making it easier to use your frequent flier miles. The airline is selling more than one million main cabin seats on domestic flights — excluding Hawaii and Alaska — for 5,000 AAdvantage miles one-way. Trans-Atlantic flights one-way cost 15,000 miles. This is for travel in August and September. The promotion goes until May 28, 2025. There are no blackout dates, so you can book travel for any day of the week. Destinations in the U.S. include Miami, Chicago, Las Vegas and Orlando. And internationally, the deal covers Cancun, London and Rome. You have to be a member of American's AAdvantage program, but that's easy to join. And availability is first-come, first-served. The promotion has been going on for about one week. On Wednesday afternoon, for example, the American Airlines website listed one-way tickets in August available for 5,000 miles plus $5.60 in fees from Miami to Los Angeles, San Francisco, Dallas-Fort Worth and Phoenix. NFL and NCAA American Airlines is also adding flights and seats to existing ones for the upcoming college and pro football seasons. That comes after January's Orange Bowl, which also served as the College Football Playoff Semifinal at Hard Rock Stadium in Miami Gardens, when the carrier added flights for Notre Dame and Penn State fans heading to MIA. American, with a hub at MIA, is adding more than 22,000 additional seats to take fans to games, 'the largest ever schedule it has flown during football season,' the airline said in a statement. About half of the seats will be for NFL games. The carrier is adding flights for 28 NFL games plus all Green Bay Packer home games. They include three Miami Dolphins home games: ▪ Baltimore at Miami, Oct. 30 ▪ Buffalo at Miami, Nov. 9 ▪ Cincinnati at Miami, Dec. 21 In November, AA is adding an additional nonstop flight between MIA Miami and Madrid. That's for the Week 11 game on Nov. 16 between the Dolphins and Washington Commanders. Miami will play host in the NFL's first game ever at Bernabéu Stadium, home of European soccer juggernaut Real Madrid. Flights will be added for another six games featuring at least one AFC East team. American will also add more than 11,000 seats for college games, including two University of Miami Hurricanes games. Those are: ▪ Notre Dame vs UM, Aug. 31, ▪ University of Florida vs UM, Sep. 20 Family reunions Sports isn't the only catalyst for air travel. So is increased tourism and family visits between South Florida and Latin America. Starting May 10, Colombia's Avianca Airlines added non-stop flights between MIA and Guatemala City and between FLL and Managua. You can now also connect to San José, Costa Rica and San Salvador. Avianca now has 40 direct routes between the U.S. and Latin America and plans to add Chicago O'Hare to San Salvador, Dallas to Bogotá and from Bogotá to Córdoba, Argentina this year. Meanwhile, Chilean carrier LATAM said it will resume non-stop daily flights between MIA and Buenos Aires, starting Dec. 1. Partner Delta Air Lines will have a peak of 35 daily departures from MIA this summer, up by one from summer 2024. They're mostly in the U.S. Some large carriers lack a big presence in South Florida but are improving their service. United United Airlines is expanding United Polaris and adding eight seats in the first row of each business class section. The seats will lie flat and are 25% larger than typical United Polaris seats. They come with privacy doors, an extra ottoman seat, exclusive entrée options and an Ossetra caviar amuse-bouche service, the company said. But you'll have to travel to the West Coast to experience that. The carrier says it'll debut the new service in 2026 on its San Francisco to Singapore flight and San Francisco to London. Eventually though, all of its future 787's will come with the extras. United expects to have 30 such planes by 2027. Spirit Closer to home, Broward-based Spirit Airlines said in May that for travel starting July 9, planes will start to come with an enhanced premium section featuring four extra inches of legroom and new loyalty program benefits, including upgrades. MORE: Spirit Airlines just added several new 'comfy' benefits for travelers Whether you'll be tail-gating before kickoff, reuniting with family, or are just curious about the extra legroom, enjoy the weekend and the summer.
Yahoo
13-05-2025
- Business
- Yahoo
Eimskip: First quarter 2025 results
HIGHLIGHTS OF Q1 2025 RESULTS Seasonal fluctuations in the company's operations characterize the performance of the first quarter, which nevertheless improves year-on-year. Solid volume in the sailing system during the quarter, grew by 6.6%, while average freight rates remained unchanged from the previous year despite higher rates in Trans-Atlantic. The international freight forwarding performed well during the quarter, despite a decrease in volume, which was based on a favorable mix of projects. In other logistics services, activity decreased year-on-year, mainly due to lower utilization in the company's coldstore facilities, lower quotas, and lower customer's inventory levels. Revenue amounted to EUR 200.3 million, an increase of EUR 6.5 million or 3.4% when compared with Q1 2024Expenses amounted to EUR 185.0 million, increasing by EUR 5.4 million or 3.0% from the previous year. Wage costs increased by EUR 3.2 million year-on-year, equivalent to an 8.6% increase, mainly due to collective wage increases. The number of employees remained unchanged year-on-year. EBITDA for the quarter amounted to EUR 15.3 million compared to EUR 14.2 million in the same period in 2024, an increase of 7.7%. The EBITDA margin was 7.7% compared to 7.3% in the same quarter last earnings were negative, EUR 0.8 million for the quarter compared to positive earnings of EUR 0.5 million in the same period last year, mainly due to increases in depreciation and lower share of profit from flow from operations during the quarter was strong, amounting to EUR 16 million, compared to EUR 2.7 million in the first quarter of 2024. VILHELM MÁR THORSTEINSSON, CEO"The first months of the year started off reasonably well, with moderate growth in EBITDA result in the first quarter which amounted to EUR 15.3 million, an increase of EUR 1.1 million from the previous year. Historically, the first quarter has the lowest activity in the company's operations, and this year, costly disruptions in operations due to unusually bad weather in the North Atlantic were added. However, there was a 6.6% increase in volume in the sailing system. The recent U.S. tariff policy has generated significant controversy and raised concerns about its impact on companies and the global economy. Nevertheless, the impact on Eimskip has remained minimal thus far. The improved performance of the sailing system can be mainly attributed to increased volume and better utilization, along with a slight decrease in cost per transported unit. However, the changed cargo mix affected the average freight rate, which remained unchanged between years, despite higher average rates in Trans-Atlantic. We are pleased to see that the changes made to the sailing system in the first quarter of last year have resulted in fewer sailed miles and reduced oil consumption, offsetting general cost increases and inflationary pressures. The performance of international freight forwarding was satisfactory, with EBITDA increasing to EUR 2.5 million from EUR 2.0 million last year, despite a 12% decrease in volume. The decrease in volume was mainly due to the turmoil in international markets due to impending tariffs to and from the United States. Additionally, there has been a shortage of containers in Asia among some of the major international shipping companies and congestion in some of their port operations worldwide, which affects the services we saw quite good activity in trucking and terminal operations while utilization in warehousing decreased in the quarter due to our customers' lower inventory levels of seafood products which impacted other companies in international operations, we have faced challenges associated with regulatory requirements and increasing uncertainty in international trade. It is concerning that, following an extended period of high interest rates and inflation in Iceland, there are now discussions about imposing additional tax burdens on both businesses and we remain relatively optimistic about the months ahead, as we anticipate the usual seasonal fluctuations in our operations, with the second and third quarters typically with the highest activity level. Eimskip's unique position in the North Atlantic provides a degree of resilience to economic fluctuations, as our home markets are heavily reliant on imports and exports primarily transported by sea. Additionally, our international freight forwarding efforts are centered on serving customers in transporting fresh and frozen food products." INVESTOR MEETING 14 MAY 2025Investors and market participants are invited to a meeting on Wednesday, 14 May 2025, at 8:30 a.m. at the Company's headquarters, Sundabakki 2, second floor. Vilhelm Már Thorsteinsson, CEO and Rósa Guðmundsdóttir, CFO, will present the Company's financial results for Q1 2025. The meeting will also be webcasted live in Icelandic at An investor presentation and a recording of the meeting will be available on the Company's investor relations website. FURTHER INFORMATIONRósa Guðmundsdóttir, CFO, tel: +354 844 4776, email: investors@ Guðbjörg Birna Björnsdóttir, Head of Treasury and Investor Relations, tel: +354 844 4752, email: investors@ FORWARD-LOOKING STATEMENTSStatements contained in this financial press release that refer to the Company's estimated or anticipated future results or future activities are forward-looking statements which reflect the company's current analysis of existing trends, information and plans. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially depending on factors such as the availability of resources, the timing and effect of regulatory actions and other factors. Eimskip undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement. Attachments Condenced Consolidated Interim Financial Statement 31.03.2025 - Eimskipafélag Íslands hf Q1 2025 Results PresentationError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
India Today
12-05-2025
- Science
- India Today
Biggest solar storm heated Earth's atmosphere, generated largest electrical current
One year after the most severe geomagnetic storm in two decades struck Earth, NASA scientists continue to unravel its big the Gannon storm in honour of space weather physicist Jennifer Gannon, the May 10, 2024, event began as a training exercise for US agencies-a simulation that abruptly became real.'Our hypothetical scenario was interrupted by a very real one,' said Jamie Favors, director of NASA's Space Weather Ground and Air DisruptionsThe storm triggered cascading effects on Earth's the US Midwest, GPS-guided tractors veered off-course, compounding planting delays from heavy spring affected lost an average of $17,000 each. Trans-Atlantic flights rerouted to avoid radiation spikes and navigation failures, while power grids faced transformer overheating and tripped high-voltage UpheavalThe thermosphere, Earth's upper atmospheric layer, heated to a record 1,150C, causing it to expand and loft heavy nitrogen particles higher. NASA's GOLD mission captured this expansion, which increased satellite drag. ICESat-2 entered safe mode, and the CIRBE CubeSat deorbited prematurely. The ionosphere-a critical layer for radio communications-warped into a checkmark shape, creating a temporary equatorial and Radiation BeltsThe storm generated the largest electrical currents in Earth's magnetosphere in 20 years, observed by NASA's MMS and THEMIS-ARTEMIS waves along coronal mass ejections (CMEs) dumped energy into the magnetosphere, while two new temporary radiation belts formed between the Van Allen belts-a discovery critical for astronaut and spacecraft Auroras and Scientific InsightsAuroras lit skies worldwide, with NASA's Aurorasaurus project logging 6,000 reports from 55 Japan, magenta hues puzzled scientists until imaging revealed the lights originated 600 miles high-200 miles above typical red auroras-due to nitrogen and oxygen mixing in the storm-heated atmosphere. Though the Gannon storm caused no catastrophes, it shows vulnerabilities in satellite operations, agriculture, and aviation.'These findings are helping us prepare for the next big storm,' Favors noted. With solar activity peaking in 2025, NASA's data will refine predictive models, ensuring safer navigation through the Sun's Watch
Yahoo
21-03-2025
- Business
- Yahoo
Air Cargo Congestion ‘Will Ripple Outward' After Heathrow Airport Closure
London's Heathrow Airport shut down Friday after a large fire at an electrical substation caused a power outage, disrupting 1,350 flights and putting the state of air cargo passing through the hub in disarray. After 4 p.m. local time, the airport said it was safely able to restart with a reduced operation, with the first flight touching down at Heathrow nearly two hours later. The airport, which is the busiest in Europe, hopes to return to a full schedule on Saturday. More from Sourcing Journal French Shipping Tycoon Pledges $20 Billion to U.S. Logistics Industry Air Cargo Demand Sees Slow Start to 2025 GXO-Wincanton Acquisition in UK Antitrust Body's Crosshairs But for air cargo, it will likely take several days to mobilize planes, cargo carriers and flight crews, as well as clear backlogs. Anita Mendiratta, an aviation and tourism consultant, told the Associated Press roughly 4,000 tons of cargo were stranded by the closure. According to live capacity and air demand data from air cargo software and consulting provider Rotate, 12 percent of European cargo has been directly impacted by the closure. Trans-Atlantic capacity is most affected, with 20 percent of cargo capacity on the lane either going to or from Heathrow. 'The Heathrow closure isn't just another logistics issue; it's a real-time stress test for supply chain resilience. Businesses must demonstrate how quickly they can pivot under pressure,' said Vitaliano Tobruk, a director at Moody's who focuses on supplier risk. 'The E.U.'s major cargo hubs, such as Frankfurt, Amsterdam Schiphol and Paris are absorbing the overflow, but capacity is not unlimited, and congestion will ripple outward. Any companies that rely on supply chains which are too dependent on single transit points would now be facing difficulties.' Heathrow is a critical air freight hub, with 215.6 billion pounds ($278.6 billion) worth of cargo was imported and exported through the airport last year, totaling over 1.5 million metric tons. The airport accounted for 67.7 percent of U.K. air freight imports in 2024, according to S&P Global Market Intelligence data. 'The second and third largest airports, East Midlands and Stanstead, each accounted for less than 10 percent of imports and so may not be able to take up all the slack while the smaller airports won't have the handling capabilities or onward logistics,' said Chris Rogers, head of supply chain research at S&P Global Market Intelligence. IAG Cargo, which has a hub in Heathrow and said its operations were temporarily disrupted, began accepting new cargo bookings as of Friday afternoon. The company has not commented on how it expects to handle potential backlogs. IAG's Heathrow hub handles over 500,000 metric tons of cargo every year. IAG Cargo transports cargo using the belly capacity of IAG's sister airlines, including British Airways, Iberia, Vueling, Aer Lingus and Level. The British International Freight Association (BIFA) noted that this usage of belly capacity in passenger aircraft could pose problems. 'When flights to and from LHR are restored, there will be a considerable influx in demand by passengers for seats to continue their journeys. Potentially this will restrict the capacity to move cargo,' BIFA said in a Friday statement. 'Supply chains work based on a consistent flow of goods and this has been severely interrupted,' BIFA said. 'For exports, the immediate concern will be that airline sheds will fill up rapidly and be unable to accept fresh freight deliveries, which will then affect other parties. For imports, freight will not arrive at or be diverted from its original final destination.' An operational update from Flexport indicated that any export shipments booked from Friday through Sunday are now scheduled for Monday. The digital freight forwarder cited a noticeable increase in requests to export from surrounding airports, including but not limited to Amsterdam, Manchester and Paris. For U.K. imports, Flexport expects significant delays in pickups due to disruptions and emergency service activity at the airport. The company anticipates more imports will be diverted to Birmingham and Manchester. A DHL spokesperson told the New York Times that the logistics company is using ground transport to reroute shipments that were already at Heathrow to other British airports. Heathrow's closure generated some criticism from the International Air Transport Association (IATA). 'How is it that critical infrastructure—of national and global importance—is totally dependent on a single power source without an alternative,' said Willie Walsh, IATA's director general. 'If that is the case—as it seems—then it is a clear planning failure by the airport.' Airports worldwide got a similar response last July, when a software glitch from cybersecurity company Crowdstrike caused a global IT outage that grounded thousands of flights worldwide. The incident caused mass delays and cancellations throughout the day and disrupted cargo handling operations with weeklong backlogs.
Bloomberg
07-03-2025
- Business
- Bloomberg
Odd Lots: We Just Saw Europe's Biggest Week in Decades
This week was a busy one and some of the most interesting things that happened came out of Europe, where policymakers announced up to €800 billion of additional defense spending and an easing of Germany's stringent debt rules. All of this comes as Europe responds to tariff threats from the Trump administration, as well as worries that the Trans-Atlantic security alliance may be over. So how significant could these changes be? And what do they mean for things like the euro, the dollar, and the wider financial system? And what are the vibes in Germany like right now? On this episode, we speak with George Saravelos, head of currency research at Deutsche Bank, about this huge moment.
