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☆ StanChart to sell jet leasing arm to Saudi wealth fund unit for $3.6 bln
▼ + stars: | 2023-08-28 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. Riyadh-headquartered AviLease, also known as Aircraft Leasing Co, is a jet lessor owned by Saudi Arabia's sovereign wealth fund. StanChart said in January it was exploring options for its global aviation finance business. Dublin-based Standard Chartered Aviation Finance owns and manages more than 120 aircraft and offers services including jet fuel hedging, debt financing and remarketing of unneeded planes. PIF is setting up startup carrier Riyadh Air to predominantly serve the kingdom’s capital, which has ambitions to become a global business hub.

Persons: Peter Nicholls, StanChart, Simon Cooper, Airfinance, Fahad Al, Saif, AviLease, Rishav Chatterjee, Shounak Dasgupta, Mark Potter Organizations: Chartered, REUTERS, Aircraft Leasing Co, Chartered Aviation Finance, Aviation Finance, Corporate, Institutional Banking, Standard Chartered, Saudi Public Investment Fund, Riyadh Air, Thomson Locations: London, Britain, Saudi Arabia, Riyadh, Saudi, Dublin, Europe, Bengaluru

☆ Qantas to secure new planes from Airbus, Boeing
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The multi-billion dollar order is split between 12 Airbus A350s and 12 Boeing 787s, which will arrive from fiscal 2027 and into the next decade, Qantas said. Qantas said the deal was aimed at providing a replacement for its current Airbus A330 and Airbus A380 aircraft. This has the potential to meet up to 90% of the group’s interim SAF target for 2030, Qantas said. "SAF reduces lifecycle carbon emissions by up to 80 per cent and is a key part of Qantas’ emissions reduction plan," it said. Reuters earlier in the week had reported, citing industry sources, that Boeing was nearing a deal for its 787 Dreamliner aircraft with Qantas.

Persons: Loren Elliott, Vanessa Hudson, Stan Deal, Rishav Chatterjee, Shailesh Kuber, Maju Samuel Organizations: Qantas, Sydney Airport, REUTERS, Australia's Qantas Airways, Airbus, Boeing, SAF, Global, Incoming Qantas, Boeing Commercial Airplanes, Reuters, Thomson Locations: Australia, Sydney, Bengaluru

☆ US airline pilots fight their unions to increase retirement age
▼ + stars: | 2023-08-22 | by ( Rajesh Kumar Singh | Allison Lampert | ) www.reuters.com time to read: +7 min

Increasing the age limit by two years would also align pilot retirement with the minimum federal retirement age, allowing them to receive full social security benefits. But the specific question of increasing the retirement age to 67 was never brought to the floor for a vote. “This is a coup by junior pilots against senior pilots,” said Allen Baker, who retired as a United Airlines pilot in June. Dennis Tajer, a spokesman for American Airlines pilots union, said pilots seeking higher retirement age want to keep earning longer. But United Airlines CEO Scott Kirby has said lifting the retirement age would not solve the pilot shortage.

Persons: Bo Ellis, F, Andrew Kelly ALPA, Ellis, ALPA, ”, “, ” ALPA, Rick Redfern, Savanthi Syth, Raymond James ., Dan Carr, Carr, Allen Baker, Baker, Dennis Tajer, Jason Ambrosi, Barry Biffle, Scott Kirby, Jonathan Ornstein Organizations: Reuters, Air Line Pilots Association, Kennedy International Airport, REUTERS, U.S . Congress, Regional Airline Association, Southwest Airlines, Air, Mesa, MESA, United Airlines, United, U.S . Senate, Raymond James . JUNIOR, American Airlines, Frontier Airlines, International Air Transport Association Locations: Queens , New York City, U.S, Delta, United, Redfern, Canada, Japan, Australia, Mesa

Increasing the age limit by two years would also align pilot retirement with the minimum federal retirement age, allowing them to receive full social security benefits. But the specific question of increasing the retirement age to 67 was never brought to the floor for a vote. "This is a coup by junior pilots against senior pilots," said Allen Baker, who retired as a United Airlines pilot in June. Dennis Tajer, a spokesman for American Airlines pilots union, said pilots seeking higher retirement age want to keep earning longer. But United Airlines CEO Scott Kirby has said lifting the retirement age would not solve the pilot shortage.

Persons: F, Andrew Kelly, Bo Ellis, ALPA, Ellis, Rick Redfern, Savanthi Syth, Raymond James ., Dan Carr, Carr, Allen Baker, Baker, Dennis Tajer, Jason Ambrosi, Barry Biffle, Scott Kirby, Jonathan Ornstein, Rajesh Kumar Singh, Allison Lampert, Ben Klayman, Grant McCool Organizations: Pilots, Kennedy International Airport, REUTERS, Air Line Pilots Association, U.S . Congress, Regional Airline Association, Southwest Airlines, Reuters, Mesa, MESA, United Airlines, United, U.S . Senate, Raymond James . JUNIOR, American Airlines, Frontier Airlines, International Air Transport Association, Thomson Locations: Queens , New York City, U.S, Redfern, Canada, Japan, Australia, Chicago, Montreal

REUTERS/John Sommers II/File Photo Acquire Licensing RightsAug 18 (Reuters) - Air cargo enjoyed record demand when COVID-19 closed borders and snarled supply chains. Now, it is reeling from overcapacity and tumbling freight rates as the freight boom makes a hard landing. Passenger jets grounded during the health crisis are flying again and bringing their lower-deck cargo space, which competes with dedicated air freighters, back into play. The Florida-based carrier cited "the unyielding and rapidly mounting macro-economic headwinds that plagued the entire air cargo transportation sector starting in late 2022". In June, air cargo experienced the slowest contraction since February 2022, the International Air Transport Association said.

Persons: John Sommers, Xeneta, they're, Peter Sand, we're, Sand, planemakers, Eddy Pieniazek, expective, Pieniazek, Robert, Tim Hepher, Lisa Bartlein, Allison Lampert, Valerie Insinna, Barbara Lewis Organizations: Parcel Service, UPS, REUTERS, Air, Reuters, Western Global Airlines, Japan Airlines, Xeneta, International Air Transport Association, Ishka, Cathay, HK, Boeing, Airbus, Aeronautical Engineers, Thomson Locations: Louisville , Kentucky, Delaware, Florida, China, Asia, United States, Miami

☆ US startup Joby is building an electric aircraft it wants to use to fly people between airports and cities for the price of an Uber — take a look
▼ + stars: | 2023-08-17 | by ( Taylor Rains | ) www.businessinsider.com time to read: +2 min

The growing electric air taxi market is expected to be a $57 billion industry by 2035. Startups are racing to build the first certified eVTOL thanks to investments from airlines like United and Delta. Joby Aviation recently got the green light to start flight testing of its five-seater S4 2.0 eVTOL. The era of electric air taxis is almost here, and there are several competitors vying for a piece of the lucrative market. In 2021, United Airlines placed a $1 billion order for Archer's Midnight eVTOL, while Delta Air Lines invested $60 million into Joby Aviation in 2022.

Persons: Joby, Uber Organizations: Delta, Joby Aviation, Morning, Archer, Aerospace, EVE Air Mobility, Boeing, United Airlines, Delta Air Lines, Air New, American Airlines, Japan Airlines, Paris Airshow Locations: Air New Zealand

☆ China loosens its pandemic-era ban on citizens joining group tours abroad
▼ + stars: | 2023-08-11 | by ( ) edition.cnn.com time to read: +4 min

CNN —China has lifted pandemic-era restrictions on group tours for more countries, including key markets such as the United States, Japan, South Korea and Australia, in a potential boon for their tourism industries. Prior to the pandemic, mainland Chinese tourists spent more than any other country’s tourists when abroad, clocking up a combined $255 billion in 2019 with group tours estimated to account for roughly 60% of that. Just how much outbound Chinese tourism will bounce back for the latest group of countries remains to be seen. “The opening of group travel from China to the U.S. is a significant milestone,” said Adam Burke, head of the Los Angeles Tourism and Convention Board. China has never publicly acknowledged limiting group tours to South Korea.

Persons: Gina Raimondo, –, Fumio Kishida, ”, Don Farrell, Steve Saxon, Adam Burke, “ Organizations: CNN, US Commerce Department, Japanese, Trade, Tourism, Weibo, McKinsey & Co, “, Los Angeles Tourism, Reuters Locations: China, United States, Japan, South Korea, Australia, Germany, Canada, Thailand, Russia, Cuba, Argentina, Nepal, France, Portugal, Brazil, Xinjiang, Los Angeles, U.S

☆ Air India unveils new logo in rebranding push under Tata Group
▼ + stars: | 2023-08-10 | by ( Aditi Shah | ) www.reuters.com time to read: +2 min

REUTERS/Adnan Abidi/File PhotoNEW DELHI/BENGALURU, Aug 10 (Reuters) - Tata Group on Thursday unveiled a new logo, branding and plane livery for Air India as part of a multi-million dollar transformation of the former state-run carrier. The airline's new logo includes a design with golden, red and purple colours, and will replace the old logo of a red swan with orange spokes. Since taking control in 2022, Tata has spent millions of dollars to update Air India's old planes, while also placing an order for hundreds of new jets. "The vision we have for the airline is also in the backdrop of a new resurgent India where the aspirations of everyone are limitless," Air India chairperson N. Chandrasekaran said. Over the past year, Air India has expanded its network and flights to several new domestic and international destinations, but it still faces challenges in operating a seamless and timely schedule of flights.

Persons: Adnan Abidi, Campbell Wilson, Tata, Chandrasekaran, Wilson, Aditi Shah, Ganesh, Arun Koyyur Organizations: REUTERS, Tata Group, Air India, Tata, IndiGo, Emirates, Air, Thomson Locations: New Delhi, DELHI, BENGALURU, India, Air India, Bengaluru

Travellers walk past an installation in the shape of five stars, at Beijing Daxing International Airport in Beijing, China April 24, 2023. REUTERS/Tingshu Wang/file photoBEIJING, Aug 10 (Reuters) - China has lifted pandemic-era restrictions on group tours for more countries, including key markets such as the United States, Japan, South Korea and Australia in a potential boon for their tourism industries. Just how much outbound Chinese tourism will bounce back for the latest group of countries remains to be seen. Shares in firms in the latest group of countries with large exposure to Chinese travel demand jumped on the news. China has never publicly acknowledged limiting group tours to South Korea.

Persons: Tingshu Wang, Fumio Kishida, Don Farrell, Steve Saxon, Casey, Sophie Yu, Joyce Lee, Jamie Freed, Edwina Gibbs Organizations: Beijing Daxing International, REUTERS, Japanese, Trade, Tourism, Weibo, McKinsey & Co, South, Grand Korea, Reuters, Casey Hall, Thomson Locations: Beijing, China, BEIJING, United States, Japan, South Korea, Australia, Germany, Britain, Canada, Thailand, Russia, Cuba, Argentina, Nepal, France, Portugal, Brazil, Xinjiang, South Korean, U.S, Shanghai, Seoul

☆ It’s official: Scientists confirm July was the hottest month ever recorded
▼ + stars: | 2023-08-08 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

Global air and ocean temperatures soared to a record high in July, according to the EU's climate change service Copernicus, deepening concern among climate scientists at a time when a spate of heat records suggest the planet has entered uncharted territory. The EU's Copernicus Climate Change Service (C3S) said Tuesday that the global average surface air temperature in July was confirmed to be the highest on record for any month. July was found to be a whopping 1.5 degrees Celsius warmer than the average for the 1850-1900 period and 0.33 degrees Celsius warmer than the previous warmest month of July 2019. Meanwhile, global average sea surface temperatures continued to rise in July, the EU's climate monitor said, after a long period of unusually high temperatures stretching back to April. For the month as a whole, the planet's average sea surface temperature was 0.51 degrees Celsius above the 1991 to 2020 average.

Persons: Copernicus, Samantha Burgess, C3S Organizations: South Locations: Europe, North Africa, East, Asia

☆ Russia's closed airspace adds up to four hours onto some flights. United, British Airways, and Finnair are all avoiding the area.
▼ + stars: | 2023-08-03 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

Russia's airspace is closed to many global airlines, forcing carriers to detour around the nation. Routes to and from Asia are up to four hours longer. Finnair's flight to Japan is four hours longer, while United treks an extra two hours to India. Carriers like British Airways, Finnair, Dutch carrier KLM, and Lufthansa, are flying about one to three hours longer than normal to avoid Russia. "Instead of a three-man crew, the extra hours can tip an airline into a heavy crew of four — and when there is a global pilot shortage, that can be really inconvenient."

Persons: They're, they're, OAG, John Grant, it's, Robert Mann, Grant Organizations: United, Morning, Carriers, British Airways, KLM, Lufthansa, Japan Airlines, Korean, All Nippon Airways, Monday, United Airlines, Juneyao Airlines, Emirates, Air, ABC News Locations: Asia, Japan, India, Ukraine, Dutch, Russia, New Delhi, London, Beijing, Seoul, Tokyo, Hong Kong, Helsinki, Soviet Union, Mumbai, San Francisco and New Delhi, China, Europe, Shanghai, Finland, Air India, New York

☆ July 2023 is planet's hottest month on record, Copernicus reports
▼ + stars: | 2023-07-27 | by ( Laura Paddison | ) edition.cnn.com time to read: +5 min

We have just lived through the hottest three-week-period on record – and almost certainly in more than a hundred thousand years. “These are the hottest temperatures in human history,” said Samantha Burgess, deputy director at Copernicus. Remo Casilli/ReutersThe news that July will be the hottest month comes amid a slew of alarming records that have already been broken – and then broken again – this summer. Last month was the hottest June on record by a “substantial margin,” according to Copernicus. On July 6, the global average temperature rose to 17.08 degrees Celsius (62.74 Fahrenheit), according to Copernicus data, beating the previous temperature record of 16.8 degrees Celsius (62.24 Fahrenheit) set in August 2016.

Persons: Copernicus, ”, Samantha Burgess, Ronda Churchill, Carlo Buontempo, it’s, Burgess, El, Remo Casilli, we’ve, Fethi Belaid, Kim Cobb, ” Petteri Taalas Organizations: CNN, World Meteorological Organization, Visitor, Popolo, Getty, Brown University, WMO Locations: , California, AFP, Asia, US, China, Europe, Rome, Melloula, Tunisia

☆ Russia's air force 'remains largely intact,' but more jets won't fix all its problems in Ukraine, NATO commanders say
▼ + stars: | 2023-07-15 | by ( Christopher Woody | ) www.businessinsider.com time to read: +7 min

After 16 months of fighting, most of Russia's air force remains intact. And even though Russia has a vastly larger air force, other issues may keep it from operating effectively, according to two NATO air commanders. Royal Air Force Air Chief Marshal Rich Knighton at the Global Air & Space Chiefs’ Conference on July 13, 2023. Massicot and others say Russia's air force could still exploit its numerical advantage if Ukraine's air-defenses network falters, though other factors could inhibit Russian air operations going forward. "The Russians have recapitalized a fair amount of their tactical air force, and they've done a lot on the weapons front as well.

Persons: Rich Knighton, Knighton, Muhammed Enes Yildirim, James Hecker, " Hecker, Hecker, hasn't, We've, Dara Massicot, Johnny Stringer, Stringer Organizations: NATO, Service, Royal Air, Jets, Global Air & Space Chiefs, Conference, Air, British Defence Intelligence, Royal Air Force Air, Global Air & Space Chiefs ’ Conference, Space Power Association, YouTube, Ukrainian Air Force, Russian, Anadolu Agency, Getty, US Air Forces, NATO's Allied Air Command, Aircraft, Russian Ministry of Defense, Rand Corporation, British Air Locations: Russia, Ukraine, Wall, Silicon, Ukrainian, London, Donetsk, Europe, Poland, Romania, Russian, Bakhmut, Kherson, Massicot

☆ 'We are in uncharted territory': World records hottest day ever for the third time in just four days
▼ + stars: | 2023-07-07 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Unofficial data from U.S. researchers showed the planet's daily average temperature soared to 17.23 degrees Celsius (63.01 degrees Fahrenheit) on Thursday, surpassing two previous heat records registered in recent days. "The global temperature record smashed again yesterday," Bill McGuire, professor emeritus of geophysical and climate hazards at University College London, said via Twitter. The record was broken again on Tuesday, notching 17.18 degrees Celsius and remained at this record high level on Wednesday. climate researcher Leon Simons said via Twitter, citing the multiple heat records observed this week. A flurry of global heat records follows a series of mind-bending extreme weather events in recent months.

Persons: Yasin Demirci, El Niño, Bill McGuire, Leon Simons Organizations: Anadolu Agency, Getty, University College London, Twitter, University, Maine's Locations: Sarajevo, Bosnia, Herzegovina, U.S, Ankara, Turkiye

☆ Half of Americans face stifling heat, poor air quality
▼ + stars: | 2023-06-30 | by ( Brendan O'Brien | ) www.reuters.com time to read: +2 min

REUTERS/Go NakamuraCHICAGO, June 30 (Reuters) - Half of the U.S. population was urged on Friday to take precautions when they are outdoors, either due to a relentless heat wave or poor air quality caused by Canadian wildfires ahead of the long Fourth of July weekend. To the north, across the Midwest and East, another 100 million Americans faced another day of smoky skies and poor air quality alerts due to raging wildfires in Canada. The weather service said individuals, especially those who are young, elderly and suffer from respiratory problems, should consider limiting strenuous outdoor activities in those areas. New York and Washington had the second and third worst air quality respectively of any major cities around the globe, according to IQAir.com, which tracks global air pollution. Some people in eastern Illinois and western Indiana faced a hot and humid day of compromised air quality on Friday without electricity after fierce storms on Thursday evening knocked down power lines and trees.

Persons: Marc Newman, Go Nakamura CHICAGO, Brendan O'Brien, Jonathan Oatis Organizations: REUTERS, National Weather Service, Midwest, Thomson Locations: Houston , Texas, U.S, California, Mississippi, East, Canada, New York, Washington, Illinois, Indiana, Chicago

☆ Global initiative launched to rate corporate carbon offset claims
▼ + stars: | 2023-06-28 | by ( Susanna Twidale | ) www.reuters.com time to read: +2 min

LONDON, June 28 (Reuters) - A standard to assess companies' claims about progress towards internal climate targets and their use of carbon offset credits was launched on Wednesday by a global initiative seeking to bring transparency and confidence to an unregulated market. Many companies have set net zero emission targets but acknowledge they will need to buy or generate carbon credits to offset emissions they are unable to eliminate from their operations. The Claims Code of Practice launched by the Voluntary Carbon Markets Integrity Initiative (VCMI), backed by the British government, seeks to help investors establish whether claims made by companies using carbon offsets are credible. “There was so much use and misuse, if not abuse of terms like carbon neutral, climate neutral, net zero, net zero aligned, net zero positive etc,” Kenber said in an interview. These standards are expected by the end of the year and in the meantime, companies would be expected to use offsets meeting standards set under the under the global airline industry carbon offsetting scheme called CORISA.

Persons: Mark Kenber, ” Kenber, Kenber, Susanna Twidale, Mark Potter Organizations: Voluntary, Initiative, Gold, Integrity Council, Thomson Locations: British

☆ The 10 worst airports for summer travel based on on-time arrival performance and airfare price
▼ + stars: | 2023-06-28 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +1 min

Three of the five worst airports for summer travel are in Florida, with Sanford Airport being the worst. Lihue Airport in Hawaii has been ranked the best airport in the US for summer travel. Forbes Advisor, a financial advisor platform, analyzed data from 100 US airports to compile a list of the 10 worst airports for summer travel based on on-time arrival performance and airfare price. Florida, which is prone to thunderstorm weather, has three of the top five worst airports for summer travel. Take a look at the ten worst airports for summer travel:

Organizations: Sanford Airport, Lihue, Morning, Forbes Locations: Florida, Hawaii

☆ Global airlines grasp at the 100% recovery
▼ + stars: | 2023-06-21 | by ( Thomas Shum | ) www.reuters.com time to read: +4 min

HONG KONG, June 21 (Reuters Breakingviews) - Global airlines are setting drawn out timelines to a full recovery. Some carriers, particularly in Asia, think they will only fly at or over pre-pandemic capacity levels in 2024 or later. Airlines didn’t rehire quickly enough to support the sudden recovery in demand and are now overpromising and underdelivering. Asian hub carriers like $16.5 billion Singapore Airlines (SIAL.SI) are particularly strained. Singapore Airlines, for example, posted a record net profit of S$2.2 billion ($1.6 billion) for the financial year ended March.

Persons: Britain’s, Una Galani, Pranav Kiran Organizations: Reuters, Qantas Airways, International Air Transport Association, Singapore Airlines, Boeing, Air, Peers, Cathay, HK, Deutsche Lufthansa, Reuters Graphics Reuters, Twitter, IndiGo, Airbus, Air India, Thomson Locations: HONG KONG, Asia, Europe, China, Ukraine, Africa, South America, Air India

☆ Canada investing C$350 mln to boost drive for sustainable aerospace industry
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, June 19 (Reuters) - Canada is investing C$350 million ($265 million) to help fund efforts to make the aerospace industry more environmentally sustainable, Innovation Minister Francois-Philippe Champagne said on Monday. The focus will be on hybrid and alternative propulsion, aircraft systems, the transition to alternative fuels, and aircraft support infrastructure, he said in a statement. "(This) ... will help drive and accelerate the green industrial transformation of Canada's aerospace industry, generating high-value jobs while strengthening supply chains and supporting the transition to a net-zero economy," he said. Aviation, which produces around 2% of the world's emissions, is considered one of the hardest sectors to decarbonise. The C$350 million includes a C$49 million aerospace innovation investment announced in 2019.

Persons: Francois, Philippe Champagne, David Ljunggren, Jonathan Oatis Organizations: OTTAWA, Innovation, Aviation, Airbus, Air, Thomson Locations: Canada, Vancouver

☆ Boeing boosts 20 year outlook for planes due to narrowbody demand
▼ + stars: | 2023-06-17 | by ( Valerie Insinna | ) www.reuters.com time to read: +2 min

PARIS, June 18 (Reuters) - U.S. planemaker Boeing (BA.N) slightly raised its annual 20-year forecast for new jetliner deliveries, propelled by the strength of the narrowbody market fueled by demand from low-cost carriers. Boeing expects airlines will need to buy 42,595 jets from now until 2042, up from 41,170 planes in its previous 20-year forecast last year. Boeing expects that narrowbody jets like its 737 MAX or the A320neo family made by European rival Airbus (AIR.PA) will dominate aircraft deliveries, with 32,420 single-aisle jets delivered through 2042. Deliveries from now until 2042 are also expected to include 7,440 widebody planes, 1,810 regional jets and 925 freighters. The company also raised its industrywide passenger traffic forecast growth rate slightly from 3.8% to 4%.

Persons: Darren Hulst, Hulst, we'll, it's, Valerie Insinna, Jonathan Oatis Organizations: planemaker Boeing, Boeing, Paris, Airbus, Thomson Locations: Boeing's, China, Asia

☆ Four alarming charts that show just how extreme the climate is right now
▼ + stars: | 2023-06-17 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +8 min

Record high levels of carbon pollution in the atmosphere and record low levels of Antarctic ice. Several all-time heat records were also broken earlier this month in Siberia, as temperatures shot up above 100 degrees Fahrenheit. In 2022, the world’s oceans broke heat records for the fourth year in a row. In late February, Antarctic sea ice reached its lowest extent since records began in the 1970s, at 691,000 square miles. The decline in sea ice also poses severe harm to the continent’s species, including penguins who rely on sea ice for feeding and hatching eggs.

Persons: Brian McNoldy, vZ9eKEs22b, we’re, ” Jennifer Marlon, “ We’ve, – we’ve, Ted Scambos, “ We’re, Phil Reid, El, Climatologist Maximiliano Herrera, “, El Niño, ” Herrera, ” Scambos, Reid, Scambos, there’s, Rick Spinrad, ” Organizations: CNN, University of Miami Rosenstiel School of Marine, Yale School of, University of Colorado -, National Weather Service, Australian, of Meteorology, National Oceanic, Atmospheric Administration, Atlantic, NOAA, Scripps Institution of Oceanography, University of California, Industrial Locations: University of Colorado - Boulder, Canada, United States, Siberia, Central America, Texas, Louisiana, Puerto Rico, Asia, China, El, California, Pacific, San Diego

☆ The world’s most eco-conscious airlines
▼ + stars: | 2023-06-16 | by ( Elissa Garay | ) edition.cnn.com time to read: +12 min

CNN —Most sustainability experts will scoff at the idea of “sustainable” and “airlines” in the same sentence. In 2022, an Airbus wide-body Beluga XL transport aircraft was filled with Sustainable Aviation Fuel" (SAF) for the first time. WiderøeNorway-based Widerøe, the largest regional airline in Scandinavia, says it is on track to become one of the world’s first fully emissions-free airlines. Alaska AirlinesAlaska Airlines has invested heavily in Sustainable Aviation Fuels (SAF). AaronP/Bauer-Griffin/GC Images/Getty ImagesWhile most major global airlines are targeting 2050 for net-zero carbon emissions, Alaska Airlines intends to meet that target as soon as 2040.

Persons: ”, Pedro Piris, Sola Zheng, Sina Schuldt, Nicolas Jammes, ” Akbar Al Baker, “, Zheng, –, that’s, it’s, Beata Zawrzel, Fabrizio Gandolfo, Nicolas Economou, Bauer, Griffin, It’s Organizations: CNN, Environmental Defense Fund, International Council, Clean Transportation, Commercial, International Air Transport Association, UN, Airbus, Beluga XL, Sustainable Aviation, Qatar Airways, SAF, European Union, Google, Environmental Defense, Airlines, United Airlines United, Aerospace, United, Flight Fund, Widerøe Norway, Widerøe, Royce, SAS SAS, Scandinavian, SAS, Wizz, Wizz Air, Etihad Airways Etihad, Getty, Etihad Airways, United Arab Emirates, Boeing, Etihad, Alaska Airlines Alaska Airlines, Aviation Fuels, AaronP, Alaska Airlines, Air Canada Canadian, Air Canada Locations: Europe, Denmark, Sweden, ICCT, Scandinavia, Norway, Canada

☆ UBS loves this low-cost global airline and expects its shares to rise 50% in the next year
▼ + stars: | 2023-06-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

UBS has upgraded Wizz Air to a buy rating, forecasting 50% growth in the pan-European airline's stock over the next 12 months. The London-listed company is a low-cost airline operating from nearly 40 airports and flying to over 50 countries. Wizz Air shares are already up by 50% this year, and UBS analysts expect the stock to increase by another 50% to £43 ($54.47) a share over the next 12 months. Deutsche Bank analysts raised their price target for Wizz Air to £37 but reiterated their "hold" rating on the stock. Deutsche analyst Jaime Rowbotham lowered the bank's forecast for the number of passengers flying Wizz Air next year by 3%, in contrast to its upgraded forecast for rival Ryanair , Europe's largest airline.

Persons: Jarrod Castle, Wizz, Jaime Rowbotham, Rowbotham Organizations: UBS, Wizz, Deutsche Bank, Wizz Air, Air, Ryanair, Europe's Locations: London, Central, Eastern, Swiss, Frankfurt, United States, Wizz

LITTLETON, Colorado, June 12 (Reuters) - A heat wave across China, Japan, Taiwan and South Korea looks set to drive coal use for electricity generation to new highs over coming weeks, priming the region that accounts for more than 60% of world coal emissions to boost pollution further. Forecasts for Beijing, Hong Kong, Japan, Taiwan and South Korea are all calling for temperatures well above local long-term averages in the coming weeks, according to Refinitiv data. This means power producers will expect greater electricity demand over the coming months from homes, apartments and businesses, and rack up power generation fuels accordingly. Japan, South Korea and Taiwan have all reduced year-to-date coal imports compared to the same period in 2022, but China's sheer scale means its increased tonnage more than outweighs the decline in imports seen elsewhere in East Asia. A steep jump in China's thermal coal imports has lifted total East Asia coal imports to new highs in Jan-June 2023China's coal consumption will also set the overall tone for regional emissions, even if other countries continue to pare back coal use in power mixes.

Persons: Gavin Maguire, Tom Hogue Organizations: Authorities, International Energy Agency, Reuters, Thomson Locations: LITTLETON , Colorado, China, Japan, Taiwan, South Korea, Beijing, Hong Kong, Tokyo, Taipei, Seoul, Asia, Korea, East Asia, pare

Air India, which is revamping itself under new owner Tata Group, has been rapidly growing its international presence with new non-stop flights to Europe and the United States. Being able to use Russian airspace has come as a boon as it looks to capture a bigger share of the market. IATA Director General Willie Walsh called for an opening up of Russian airspace. "What we would like to see is everybody using Russian airspace. But airlines that can are unlikely to stop using Russian airspace after this diversion, said James Halstead, managing partner at Aviation Strategy.

Persons: Stringer, Campbell Wilson, Wilson, Scott Kirby, Kirby, Willie Walsh, Walsh, James Halstead, Vinod Kannan, India's, it's, Air India's Wilson, I'm, Aditi Shah, Mark Potter Organizations: REUTERS, United Airlines, Air, Air India, International Air Transport, Tata Group, Reuters, Airlines, Aviation, Singapore Airlines, Thomson Locations: Sheremetyevo, Russia, Ukraine, Moscow, Stringer ISTANBUL, U.S, India, Europe, Asia, Brussels, Air India, Istanbul, Air, United States, Russia's Far

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