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Block increases its annual gross profit forecast on consumer spending strength
Block, led by Jack Dorsey, raised its full-year outlook Thursday. The 'payments firm' benefited from strong growth in its core businesses and resilient consumer spending. The Oakland-based company now expects its annual gross profit in 2026 to be $12.33 Billion, up from the previous forecast of 12.20 Billion. The company's shares jumped by 7% during extended trading. As of the latest close, the stock had risen by 9%. U.S. consumer expenditure remained resilient in the first three months 2026. This was largely due to a stable labor markets and wage growth. The U.S./Israeli war against Iran also had a positive impact on the economy. Block's Cash App, Square and Block's Cash App businesses grew strongly in the quarter. Cash App, a peer-to-peer mobile payment platform, saw its gross profit jump 38% in the third quarter. The volume of consumer lending at the company jumped 82% from $17.6 Billion a year ago. The results are the culmination of a strong reporting season in the payments sector. Card giants Visa, and Mastercard have also posted 'robust earnings. The adjusted?profit for the three-month period ended March 31 was $513,000,000, or 85 cents a share. This compares to $355,000,000, or 56 cents a share, one year ago. Block also incurred $852 Million in restructuring charges and other costs in the first quarter. In early 2018, the company announced that it would be reducing over 4,000 positions as part of an overall overhaul to integrate artificial intelligence into its operations.
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Oil prices are choppy, stocks fall as US-Iran deal is still in flux
U.S. stocks and European shares fell on Thursday as oil prices fluctuated between gains and losses. Investors are still uncertain about the peace negotiations?between Iran and the U.S. Wall Street's?major indexes retreated slightly after?strong?chipmaker earnings drove them to multiple record highs. The S&P500 fell by 0.4%, while the Nasdaq Composite dropped by 0.1% and Dow Jones Industrial Average lost by 0.6%. The oil prices settled down after a report that Saudi Arabia and Kuwait had lifted restrictions on the use of their airspace by the United States and their military bases. This allowed Washington to resume operations to escort ships through Strait of Hormuz, as early as this coming week. Brent crude futures fell 1.2%, or $1.21, to $100.06 per barrel. West Texas Intermediate crude settled at $94.81 down by 0.28%, or 27 cents. Both benchmarks fell by up to $5 per barrel earlier on the optimism that Washington and Tehran would reach a temporary, limited agreement. The STOXX Europe 600 index finished lower by 1.1%, after a 2.2% jump on Wednesday. Meanwhile, MSCI's largest?index for Asia-Pacific stocks outside Japan reached a new all-time record, with a 1.6% gain. Japan's Nikkei reached 62,000 for the very first time. The MSCI All-Country World Index fell by 0.1% and held near record highs. OIL RISK In a note published on Thursday, Daniel Skelly of Morgan Stanley’s?Wealth Management Market Research & Strategy Team wrote that oil volatility?may have less impact on the stock market’s daily performance. But its long-term effect on inflation remains an?open? question. Brent remains around 40% higher than its level in late February, when the war started, and 10-year Treasury yields are surging - a stark reminder of the pressure that rising energy costs continue put on the world economy. The 10-year U.S. Treasury rates rose by 2.8 basis point to 4.382%. "Certainly, the clock is moving towards a time... when oil inventories are no longer able to be drawn down at the present pace and energy prices will jump significantly," wrote Investec's market strategists in a Thursday note. In March, the global market was shook by a rocketing oil price. However, a fragile ceasefire in Syria and the prospect of a settlement have fueled a rally that is based on risk. This rally has continued since April. It's been fuelled by strong earnings reports from tech companies. S&P COMPANIES? Set for ROBUST PROFIT Growth S&P 500 companies on track to achieve their highest profit growth in over four years, despite Intel and Advanced Micro Devices declining on Thursday, paring earlier gains this week. Manish Kabra is a Market Strategist at Societe Generale. He wrote a client letter on Thursday that stated: "U.S. Earnings confirm a wide-based profit boom. Record EPS (earnings-per-share) beats, record-high margins, and sharply improved '26 growth expectation." A survey of economists indicates that investors are waiting for the U.S. Non-Farm Payrolls Report on Friday. The jobs should have increased by 62,000 in April after recovering 178,000 in March. The euro was flat at $1.174 on the currency markets. The dollar index, which measures U.S. currencies against six different units, was also flat. After recent spikes in market activity, there was speculation that Japan intervened in support of the battered currency. The yen fell 0.24% to 156.76 dollars after hitting a 10-week-high of 155 on Tuesday. Reporting by Lawrence Delevingne, Sophie Kiderlin, and Ankur Banerjee, in Boston; Editing by Elaine Hardcastle and Nick Zieminski.
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Compass is poised Compass to end Brazil's almost five-year IPO rut
Compass Gas e Energia SA is set to launch its initial 'public offering' on a Thursday, ending a nearly 5-year IPO stalemate on Brazil’s B3 Stock Exchange due to high interest rates. According to two sources familiar with the transaction, the offering of 89.3 millions shares by the existing shareholders of the gas distributor could generate around 3 billion Brazilian reais (about 600 million dollars). One person said that by early afternoon on Thursday, the orders had nearly tripled the size of the initial?offering. The second source said that despite the high demand, pricing may be at the lower end, 28 reais per share. The price range was 28 to 35 reais for each share. A sale at the upper end would equate to a valuation around 25 billion reais. If the IPO is completed as planned, Compass will be the first IPO to take place on the Brazilian stock exchange since 2021 when Raizen, which was the largest sugar producer in the world, became?public. Compass is part of Cosan’s larger push to reduce leverage and sell assets, due to high interest rates that have affected the group’s results. One person said that Cosan would use approximately 75% of the IPO proceeds to pay off debt. Cosan had planned to launch an IPO in '2020 for Compass but decided against it due to the unfavorable?market conditions. Despite the long-term local IPO drought in Brazil, companies such as Picpay, a digital banking company owned by 'the Batista Family,' and fintech Agibank have launched shares on U.S. bourses. High interest rates and concerns about Brazil's fiscal stability have stymied many companies who had attempted to go public over the past few years. (Reporting and editing by Cynthia Osterman; Luciana magalhaes)
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Reporting shows that oil-price wagers before the Iran war news totaled $7 billion.
According to traders, analysts and exchange data, there were a series of well-timed bets made on the falling oil price in March and April, totaling up to $7 billion. These bets were spread over multiple exchanges, types of fuel, and derivatives, just before Donald Trump's major announcements about Iran policy. The amount exceeds the $2.6 billion in?bets that were previously reported, and has already led to the U.S. Administration?warning staff not to use nonpublic information as a means of financial gain. A?person with knowledge of the matter said in April that the U.S. Commodity Futures Trading Commission is investigating. However, the CFTC still hasn't confirmed the investigation. They could not determine who made the bets or if they originated in America or elsewhere. These included short positions or bets on falling prices for derivatives such as ICE and CME crude oil, diesel, and gasoline futures. Bets were placed on the Intercontinental Exchange and Chicago Mercantile Exchange, two major exchanges which host benchmark futures trading for global oil and fuels. Both exchanges declined comment. A source with knowledge of the situation said that the CME is looking into the trades. Legal experts and legislators have called for the regulators to investigate if these well-timed transactions were based on leaks or inside information. The first unusual trades were noticed by traders on 23?March. The trades were made just minutes before Trump announced that he would delay his threatened attack on Iranian power infrastructure. This triggered a drop in oil prices. On April 7, Trump announced a truce with Iran, which caused a drop of up to 15% in benchmark ICE Brent Futures. The same pattern repeated on April 17 when Iranian officials and Trump discussed reopening Strait of Hormuz. And again on the 21st of April when Trump extended his ceasefire. Other media reported these trades in the front-month contracts of the two benchmark global crudes Brent and West Texas Intermediate. Initial calculations put the value of these bets at $2.6 billion on four days between March and April. The U.S. Justice Department, as well as the CFTC, did not respond immediately to requests for comments. White House spokesperson: "All federal employees are subject to government ethical guidelines that prohibit using non-public information in order to gain financial benefit." A further analysis of the trading data across exchanges showed that traders placed similar bets exactly at the same times and dates?for European Diesel and U.S. Gasoline Futures, as well as for longer-dated contracts for Brent and WTI. Calculations show the total was around $7 billion. Short selling or a sell bet is when the trader borrows a derivative from the counterparty and sells it, then buys it cheaper later on when the price drops, keeping any remaining profit. The oil price dropped by more than 10% on March 23, April 7, 17, and 21. Calculations show that, depending on when the bets were made, a $7 billion short seller could have made millions in profit. Adi Imsirovic from the Center for Strategic and International Studies and an oil trader veteran said that these trades looked "well-informed" because they were made before major announcements. He added that U.S. authorities such as the CFTC can access exchange data in order to track who made the trades, and to investigate if they choose to. ABC reported on Thursday that the U.S. The Department of Justice is investigating oil transactions worth $2.6 billion that are related to the Iran War. The DOJ did not respond to a request for comment. In March, the CFTC's Enforcement Director said that his agency was "watching" speculation about insider trading on CFTC-regulated market. BILLIONS OF DOLLARS Let's stick to the facts. The volume was unusual. The volumes were unusually high. They were in advance of important announcements", said Jorge?Montepeque, from Onyx Capital Group. He helped design the modern oil price setting system at Platts pricing agency back in the 90s. Brent crude, low-sulphur gasoline, and West Texas Intermediate crude are traded on the Intercontinental Exchange. The New York Mercantile Exchange is owned by CME Group. Trump announced at 1105 GMT on March 23 that he would delay the threatened attack against Iranian power infrastructure. LSEG data indicates that traders bet on 20,000 Brent and WTI Futures between 1049 and1050 GMT. The sales were spread over the first, second, and third month contracts. They totaled $1.35 billion. In addition, $122 million was spent on ICE Gasoil - Diesel - Futures, and $81 million was spent on U.S. gas futures. Robert Frenchman, a New York lawyer who previously worked in white-collar crimes and insider trading, said that "those quantities will not escape scrutiny." Trump's ceasefire announcement on March 23 triggered a drop in crude futures as high as 15%. This was one of the biggest intraday drops ever recorded. This announcement sent futures for gasoline and gasoil down by around 12%. Between 1944 and 1945 GMT on April 7, sell orders for oil and gasoline worth $2,12 billion were placed. This was well after the markets settled and at a time of low volumes. Trump announced minutes later a ceasefire of two weeks with Iran. Nearly $2 billion worth of Brent, WTI and gasoil futures, as well as gasoline, were sold on April 17 at 1224-1225 GMT. This was just minutes before Iranian Foreign Ministry Abbas Araqchi announced that Hormuz will reopen. Trump and U.S. officials then posted multiple posts to social media. On April 21, about $830 million in Brent and WTI futures contracts were sold only 15 minutes before Trump extended his ceasefire. (Alun John, Alex Lawler, Robert Harvey and Michelle Price contributed additional reporting from London and Washington. Editing was done by Simon Webb and David Gregorio.
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US sanctions Cuban mining and military conglomerate
The United States imposed financial sanctions on Thursday on a conglomerate of businesses run by the?Cuban military and a joint venture between Cubans and Canadians in the mining industry. This comes as the Trump Administration intensifies its pressure on Cuba's communist leadership by targeting foreign investment sources. Donald Trump, the U.S. president, has commented on the January military raid that was conducted to capture the leader of Venezuela's longtime ally Cuba. Cuba is next" and blocked most oil deliveries to the country. This worsened power outages in the island. Trump signed an executive directive last week that broadened U.S. Sanctions against Cuba. President Miguel Diaz-Canel called the move "coercive." According to?that order?, Secretary of state Marco Rubio stated that the Trump administration targeted Grupo de Administration Empresarial SA (GAESA), a military conglomerate which?U.S. Officials claim that Ania Guiillermina Morera, the Executive President of GAESA, controls at least 40 percent of Cuba's economic output. In a statement Rubio accused Cuba of allowing intelligence operations by nations hostile to the U.S. Sherritt announced on its website Thursday that, with immediate effect, it has suspended its direct involvement in joint ventures in Cuba. The U.S. demanded that Cuba open up its state-run economic system, pay compensation for expropriated properties by the former government of Fidel Castro, and hold "free" and fair elections. Cuba has said that its socialist form of government is not negotiable. Cuban top officials have accused Washington of "hints at a possible military action" in order to "liberate Cuba" and claim that decades of U.S. economic and social sanctions against the island's government is what has caused its current economic and social problems. Rubio held talks earlier this week with military officials at the U.S. Southern Command, which oversees U.S. activities in the Caribbean. He was pictured shaking hands with the commander of its Southern Command,?General Frank Donovan. They were standing in front of a map Cuba. Rubio stated on X that "Today's sanction shows that the Trump Administration will not sit back while Cuba's Communist regime threatens national security in our Hemisphere." "We will keep taking action until the regime makes all the necessary political and economic reforms," Rubio said on X. The sanctions were announced shortly after Rubio met with Pope Leo at the Vatican, who expressed concern about the rising tensions in the U.S.-Cuba relationship and called for dialogue. (Reporting and editing by Michelle Nichols; Paul Simao, Cynthia Osterman, Michelle Nichols; Daphne Psaledakis; and Ismail Shakil).
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Colorado River will reach record lows after worst ever Rockies snowpacks
According to a federal forecast issued on Thursday, Colorado River flows will reach record lows in Lake Powell this summer after the lowest ever snowpacks were recorded in Colorado, Utah, and Wyoming. According to the Colorado Basin River Forecast Center, a March heatwave "prematurely" melted any snow that fell during a warm and dry winter. This will result in Colorado River flows to Powell being only 13% above average from April to July. This would be the lowest spring-summer runoff since 1963, when the reservoir was created. It supplies water to 40 million people in cities like Los Angeles, Phoenix, and Las Vegas. Cody Moser said, "There's no good news this winter" in a webcast. Scientists attribute the U.S. Southwest's megadrought to climate change. The scientists have attributed this to rising temperatures in the region, which has caused aridification, and a fall in stream levels. The seven states in the Colorado River?Basin that rely on the river will be affected by low flows. The U.S. Bureau of Reclamation began to reduce the amount of water released from Lake Powell in order to prevent it from falling too low to allow hydroelectric production. The seven states of the river basin have been in talks for a long time to come up with a deal on water sharing this year. If they fail, then the federal government will intervene. It operates Powell Reservoir and other reservoirs along?the river. Nevada, Arizona, and California - the states in the lower basin - offered on Friday to reduce their water consumption. Eric Kuhn is a water researcher who expected state and local governments would impose additional outdoor restrictions in order to deal with?any possible water shortages this year. Kuhn, former Colorado River water manager in the state of Colorado, said: "I do not see anyone who is going to shut off water inside houses or fire hydrants." Phoenix has called for voluntary conservation measures in order to deal with the likely water shortages. Los Angeles limits outdoor sprinkler watering to three days per week. A strong El Nino system that is forecast could improve flows in the lower basin, with heavy monsoon rains. This weather phenomenon is a result of warm Pacific water and causes wetter conditions in southern United States. Andrew Hay, New Mexico (reporting; Aurora Ellis, editing)
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The head of the IEA warns that energy markets are heading into a 'troubled sea' as a result of the Iran war.
Fatih Bibil, the head of the International Energy Agency said that the 'war' in Iran continues to drain'millions' of barrels of 'oil every day. Brent oil futures fluctuated between $96 and $102 per barrel on Thursday, following mixed reports of an interim deal to end the war and possibly reopen Strait of Hormuz. This key trade chokepoint has been closed since the conflict began at the end of Feb. Birol warned that such volatility is likely to continue, and that the supply would return gradually once the war ended. He said that oil security would still be a major issue. He said that Canada, as the world's fourth-largest oil producer, should find new markets for its production, and added that other countries looking to expand their energy trade after the?Iran war would likely consider it an "obvious choice". He said that if the 'war' continues to disrupt oil supply, the IEA will be ready to release a?additional amount of barrels from its strategic reserves. They have so far?released 20 percent of their oil reserves in an effort to?mitigate rising prices. Reporting by WaLone in Toronto and ShariqKhan in New York. Writing by Liz Hampton. Editing by Chris Reese & Nick Zieminski.
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Compass is poised Compass to end Brazil's almost five-year IPO rut
Compass Gas e Energia SA is expected to price its initial public offer on Thursday. This will end a 'nearly 5-year drought' of IPOs in Brazil, caused by high interest rates. According to two people familiarized with the transaction, the sale of 89.3 millions shares by the existing shareholders of the natural-gas distributor could generate around 3 billion Reis ($600 Million). One of the people said that by early afternoon on Thursday, the orders were almost three times larger than the offer. The second source, however, added that despite the high demand, pricing could be at the lower end, at 28 Reais per share. The price range for the offering was 28 to 35 reais per share. A sale at the upper end would imply a valuation around 25 billion reais. If the offering is completed as planned, Compass will be the first IPO to take place on the Brazilian stock exchange since 2021 when Raizen, which was the largest sugar producer in the world, went public. Compass's offer fits in with Cosan’s larger push to sell assets, and reduce leverage. High interest rates have been a factor in the group's poor results. One person said that Cosan would use approximately 75% of its IPO proceeds to pay off debt. Cosan attempted an IPO in 2020, but shelved it due to unfavorable markets conditions. Despite a?prolonged local IPO drought?, Brazilian companies such as Picpay, a digital banking company owned by the 'Batista Family, and fintech Agibank?have?launched their shares on U.S. markets. Despite the high interest rates, and concerns about Brazil's fiscal stability, several companies have been unable to go public. Reporting by Luciana Magnalhaes, Editing by Cynthia Osterman
Fuel costs are increasing, so airlines are reducing their prices and cutting back on their outlook.
The U.S. and Israeli war against Iran, which has pushed up jet fuel prices, has shook the aviation industry around the world. Airlines have been forced to increase fares and revise financial forecasts.
In recent weeks, jet fuel prices have increased from $85-$90 per barrel up to $150-$200 per barrel. This is a major financial blow to an industry that relies on fuel for up to 25% of its operating costs.
Here is an alphabetical list of the ways that?airlines have responded:
AEGEAN AIRLINES
The Greek airline anticipates that the suspension of Middle East flights, as well as a spike in fuel costs, will have "a significant impact" on their first-quarter earnings.
AIRASIA X
Malaysian Airlines executives announced that the company has cut 10% of its flights in the group and imposed a fuel surcharge of around 20%.
AIR CANADA
The Canadian largest airline plans to reduce four of its daily flights to New York to 38 due to rising fuel prices. From June 1, 2026, the four flights to JFK International Airport are being cut.
AIR FRANCE-KLM
The airline group said that it would increase the price of long-haul tickets to offset rising fuel costs. Cabin fares will rise by 58 euros (50 euros) per round-trip.
KLM, the Dutch subsidiary of the group, announced on April 16 that it would cancel 160 flights across Europe in a month due to rising fuel costs.
AIR INDIA
The Indian airline said that it will change its fuel surcharge system from a flat surcharge for domestic flights to one based on distance. The Indian carrier said that surcharges for international routes do not compensate the steep rise in fuel costs.
AIRLINE OPERATORS IN NIGERIA
In a letter to the Nigerian fuel industry association, it was claimed that they were artificially increasing prices.
AIR NEW ZEALAND
On April 7, the airline announced that it would cut flights in May and June, and raise fares. It was one of the earliest to announce a large increase in ticket prices after the conflict erupted. The airline also suspended its earnings forecast for the full year due to volatility in the fuel markets.
AKASA AIR
Akasa Airlines, based in India, announced that it would be introducing fuel surcharges ranging from 199 to 1,300 Indian Rupees ($2 - $14) for domestic and international flights.
ALASKA AIR
The U.S. carrier said that it would raise fees by $5 for the first bag and $10 for the second for flights in North America, as well for Hawaiian Airlines. The third checked bag was raised from $50 to 200 dollars.
AMERICAN AIRLINES
The U.S. carrier announced that it would increase the fees for checked baggage by $10 for each of the first two bags, and $150 for the third bag, on both domestic and short-haul flights. The airline also reduced certain benefits for passengers in economy class.
The company had previously said that it anticipated a $400-million increase in expenses for the first quarter due to rising fuel prices.
ASIANA AIRLINES
Newsis reported that the South Korean airline would cut 22 flights from April to July because of fuel price increases.
CATHAY PACIFIC
Hong Kong Airlines announced that it would cancel about 2% scheduled passenger flights between mid-May and the end of June. Meanwhile, HK Express, its budget airline, was cutting approximately 6% flights.
The carrier had previously stated that it would increase its fuel surcharge across all routes by 34% from April 1, and will review the charges every two weeks.
CEBU AIR
The Philippines-based carrier said that the sharp increase in fuel prices is a major concern. It will continue to review pricing and network strategies and try to minimize the impact.
CHINA EASTERN EXPRESS AIRLINES
Air China said that it would increase fuel surcharges on domestic flights starting April 5. Flights of less than 800km will be charged a surcharge of 60 yuan, and flights above 800km will be charged a surcharge 120 yuan.
DELTA AIR LINES
Delta announced that it would reduce capacity by approximately 3.5 percentage points compared to its original plan, and increase fees for checked baggage in order to offset the rising costs of jet fuel. The increase will be $10 for first and second bags, and $50 on third bags.
The U.S. carrier pulled all planned growth in capacity for the current quarter, and predicted profit that was below Wall Street expectations. Delta's CEO said that the company would not update its full-year forecast due to the uncertainty surrounding the fuel price hike.
EASYJET
EasyJet has warned that it will suffer a larger half-year loss before tax of between 540 and 560 millions pounds ($731 and $758) in March, including an extra 25 million pounds of fuel costs.
Kenton Jarvis, CEO of British Airways, said that European consumers can expect to pay higher prices at the end summer when fuel hedges expire.
FRONTIER AÉRIENS
Fuel prices have risen'significantly' since the airline issued its outlook.
GREATER BAY Airlines
The Hong Kong-based firm said that it will increase fuel surcharges for most routes on April 1, but keep them the same on routes to mainland China and Japan.
The carrier has announced that the surcharge on flights between Hong Kong, Philippines and other destinations will be more than doubled.
HONG KONG Airlines
The airline announced that it would increase fuel surcharges up to 35% starting March 12. The biggest increases would be on flights between Hong Kong, Bangladesh, and Nepal where the charges would go from HK$284 to HK$384 (US$49).
British Airways' owner IAG stated in March that it does not intend to increase ticket price immediately as it has hedged a large amount of fuel for the short to medium term.
INDIGO
India's largest airline announced that it will begin charging fuel fees on both domestic and international flights as of March 14. The charges include 900 rupees per flight to the Middle East, and 2,300 rupees per flight to Europe. Sources say that the company is lobbying for a reduction in fuel taxes by the Indian government.
JETBLUE AERWAYS
Low-cost airline based in the United States has announced that it will increase fees for optional services, such as checked luggage, due to "rising operating expenses". The airline said that baggage prices would rise either by $4 or $9.
Sources with knowledge on the subject have confirmed that KOREAN will be in emergency mode as of April due to rising oil costs. The airline will implement phased responses based on the oil price levels and increase company-wide efficiency to offset surging fuel prices.
LUFTHANSA The group announced that it would ground 27 aircraft servicing its CityLine short-haul subsidiary earlier than expected, citing the high cost of jet fuel and industrial action. Lufthansa also plans to withdraw four Airbus A340 600 long-haul planes at the end the summer, and will reduce its short- and medium-haul fleet by five aircraft during winter 2026/2027.
PAKISTAN INTERNATIONAL FLIGHTS
Fuel surcharges are cited as the reason for raising domestic flight prices by $20, and international fares up to $100.
QANTAS AIRWAYS
Qantas, Australia's largest airline, said that it has delayed a planned A$150m ($106m) buyback. It also increased its projected fuel bill in the second half 2026 from A$2.5bn to A$3.1bn-A$3.3bn.
Scandinavian Airlines announced that it would cancel 1,00 flights in April due to high jet fuel and oil prices. In March, the airline had cancelled "couple hundred" of flights.
SAS, which has already raised flight prices, stated that the surge in fuel costs would be a major blow to the aviation industry, even if they tried to absorb them.
SPRING AIRLINES
Budget Chinese airline announced that it will increase fuel surcharges for domestic flights from April 5. Details to be announced later.
SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWEST SOUTHWAST AIRLINES
The American carrier announced that it would increase the fees for checked bags by $10 each for the first two bags. This will bring the cost to $45 and $55 respectively for the first bag.
The Portuguese airline claimed that its price increases would partially offset the impact of fuel prices changes on its revenues.
THAI AIRWAYS
The Thailand-based airline said that it would increase fares between 10% and 15% in order to combat rising fuel prices.
TURKISH AIRLINES LUFTHANSA
SunExpress, the joint venture between Turkish Airlines, Lufthansa and Lufthansa announced that it would be imposing a temporary fuel surcharge between Turkey and Europe of 10 euros for each passenger starting May 1. The fuel surcharge will be applied to all bookings made after April 1, for departures after May 1.
Turkish Airlines announced on April 10, that it would not be distributing any dividends from its net profit for 2025, instead choosing to keep the earnings and preserve cash.
T'WAY AIR
As part of measures taken to combat the effects of war, the South Korean low-cost airline said that it would furlough cabin crew in May and/or June without pay.
UNITED AIRLINES
Scott Kirby, CEO of the U.S. carrier, said that the airline will cut unprofitable flights in the next two quarters to prepare for the oil price remaining above $100 by the end 2027.
Andrew Nocella, United's Chief Commercial Officer, said that the company was able to increase fares in response to a rapid rise in oil and jet fuel costs.
In an email to customers, the airline announced that it would also be increasing first and second checked baggage fees by $10. This applies to all travelers in North America, Mexico, Canada, and Latin America.
VIETJET
Due to possible fuel shortages, the Vietnamese budget airline has 'adjusted' flight frequencies on certain routes.
VIETNAM Airline
Vietnam's Aviation Authority announced that the carrier will cancel 23 flights a week on domestic routes starting in April after it requested assistance from the government to remove an environment tax on jet fuel.
VIRGIN ATLANTIC
Corneel Kster, the CEO of the airline, told The Financial Times that despite adding fuel surcharges on fares this year it will struggle to achieve profitability.
VIRGIN AUSTRALIA
Virgin Australia has said that it expects an increase of jet fuel costs of between A$30 and A$40 million in the second half of the fiscal year. It also anticipates a 1% decrease in capacity for the fourth quarter.
The airline had previously stated that it would adjust fares in order to reflect the rising costs.
WESTJET
Canadian Press reported that the airline would add a C$60 fuel surcharge ($43) to certain bookings, and also combine flights due to rising costs.
(source: Reuters)