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Turkish Airlines replaced its chairman, chief executive, chief financial officer and chief commercial officer simultaneously on Thursday. The filing offered one sentence of explanation. Bloomberg reported the incoming executives had met Erdoğan in Ankara the previous day.
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AirAsia is suspending ten routes from mid-April through May as fuel costs from the Middle East crisis hit Southeast Asian low-cost carriers. The suspensions reflect the global reach of a fuel shock that is eliminating marginal routes across every region, not just those with direct Gulf exposure.
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EASA extended its UAE airspace conflict zone bulletin to April 24 with no changes — European carriers remain grounded on Dubai routes. Lufthansa has cancelled most of today's flights as cabin crew strike across all German airports.
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Southwest Airlines exits Chicago O'Hare and Washington Dulles on June 4, ending a five-year experiment at both airports. All 15 O'Hare markets will remain available from Midway. Passengers with affected bookings can rebook free or request a full refund.
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Lufthansa expects to cancel 80 to 90 percent of its flights on Friday April 10 as cabin crew union UFO stages a one-day walkout across all German airports. Austrian, SWISS and other Group subsidiaries are unaffected. Passengers can rebook free of charge or request a full refund.
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A US-Iran ceasefire was announced yesterday. Oil fell below $100. Airline stocks surged globally. IATA's Willie Walsh says jet fuel supply will take months to recover regardless. Bahrain has reopened its airspace. EASA reviews its UAE bulletin this morning.
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Qatar Airways has grounded all eight of its operational A380s and cut more than 12,000 flights for April and May. The June 1 return is planned. The refund window extends to July. The longer term data suggests the crisis has accelerated a retirement trajectory that was already underway.
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Delta beat on revenue and earnings in the first quarter. It also withdrew its full year guidance entirely. The refinery offset is real. The fuel crisis is now fully on the income statement; and Delta's results represent the ceiling for what US airlines can deliver in this environment.
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Jet fuel rationing has reached seven Italian airports. Air India's CEO has resigned. EASA reviews UAE airspace safety on Thursday. And Delta reports earnings at 11.30am UK time — we will have the analysis as soon as numbers drop.
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Easter Monday delivered 5,029 US flight disruptions. easyJet's French cabin crew struck. Capacity cuts spread to Croatian leisure routes. And Delta's earnings on Wednesday open the most consequential week of the airline earnings season.
Analysis
Delta reports first quarter earnings on Wednesday at 6.30am Eastern. The headline revenue and EPS figures will receive the usual attention.
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Ryanair entered the Iran war with 84% of its fuel hedged at $77 per barrel. Spot prices are now above $190. The competitive advantage is real. O'Leary's warning this week about May supply disruptions, however, suggests the crisis is moving into territory that no hedging contract reaches.