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Airlines Slash Flights as Jet Fuel Costs Surge, Squeezing Travellers and Markets

  Airlines Slash Flights as Jet Fuel Costs Surge Canadian travellers are facing fewer flight options and higher fares as jet fuel prices spike to multi‑year highs , forcing Air Canada and Air Transat to cut capacity across key routes. The surge in fuel costs is tied directly to the ongoing Iran conflict , which has disrupted global oil flows and pushed energy markets into another period of volatility. Air Transat is reducing service to Europe and the Caribbean, while Air Canada is suspending several regional and international routes it now considers unprofitable. For consumers, this means higher ticket prices, more crowded flights, and fewer choices heading into the summer travel season . Impact on the Economy and Inflation Airlines passing fuel costs to passengers adds fresh pressure to Canada’s already‑stubborn inflation outlook. Travel inflation — which had been easing — is now expected to rise again, complicating the Bank of Canada’s path toward rate cuts. Higher travel costs a...
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South Korea in Turmoil: President Declares Martial Law

In a shocking late-night address, South Korean President Yoon Suk Yeol declared martial law, citing the need to counter "anti-state forces" and protect the nation from North Korean threats. This unprecedented move has plunged the country into its most significant political crisis since its democratization in 1987.

The declaration, which empowers the military to shut down political activity and control media and publishers, has sparked widespread protests and intense criticism from both domestic and international communities. Lawmakers from the opposition party have condemned the move as unconstitutional and have vowed to impeach the president.

As the nation grapples with this crisis, the international community watches closely, with the US and UK expressing grave concerns and urging a peaceful resolution. The South Korean won has fallen to its lowest level since October 2022, reflecting the economic uncertainty caused by the political turmoil.

The coming days will be crucial in determining the future of South Korea's democracy and its relationship with the global community.



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