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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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EU Prepares for Potential Trade Retaliation Against US Tariffs

The European Union has announced its readiness to counteract U.S. tariffs with a robust plan, should the need arise. Speaking to the European Parliament, Ursula von der Leyen, President of the European Commission, emphasized the EU's preference for a negotiated solution but affirmed its preparedness to protect its interests, citizens, and businesses if necessary.

The U.S. administration, under President Donald Trump, has recently imposed tariffs on steel and aluminum imports, with additional duties on cars expected soon. Von der Leyen criticized these measures, highlighting their potential to fuel inflation and increase costs for American industries. She also underscored the importance of diversifying trade and removing internal barriers within the EU's single market to strengthen its economic resilience.

While the EU remains open to dialogue, von der Leyen assured lawmakers that all necessary instruments are on the table to respond decisively if required. The bloc's strategy reflects its commitment to safeguarding its economic stability and maintaining a balanced global trade environment.

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