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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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A major power outage is reported in Spain and Portugal, disabling their capitals

 

A major power outage has struck Spain and Portugal, including their capitals, Madrid and Lisbon, causing significant disruptions across the Iberian Peninsula. The blackout has affected subway networks, phone lines, traffic lights, and ATM machines, leaving millions of residents grappling with the sudden loss of electricity.

Spanish power grid operator Red Eléctrica and Portuguese distributor E-Redes are working to restore power and stabilize the network. Early reports suggest the outage may be linked to issues in the European electricity system. The blackout has also impacted parts of France, further highlighting the scale of the problem.

Authorities in both countries have urged residents to limit travel and prioritize safety as traffic lights and public transportation remain non-operational. This rare and widespread outage has disrupted daily life, with courts halting work and mobile networks experiencing outages.

Efforts to restore power are underway, but the cause of the outage remains under investigation. This developing situation underscores the vulnerability of interconnected power systems and the need for robust infrastructure to prevent such incidents in the future.

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