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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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Carney Sets the Course: PM Outlines Government Priorities in First Post-Election Address

 

Prime Minister Mark Carney is set to unveil his government's priorities in a highly anticipated news conference today, marking his first public address since securing a fourth mandate for the Liberal Party. 

Carney, who has remained largely behind closed doors since election night, is expected to focus on key domestic and international issues, including trade relations with the United States. His office confirmed that he spoke with U.S. President Donald Trump earlier this week, with discussions centered on easing ongoing trade tensions. While Trump has indicated a meeting in Washington could happen within days, Carney's team has yet to confirm the timeline. 

Beyond trade, Carney has spent the past few days engaging with global leaders, including King Charles, Ukrainian President Volodymyr Zelenskyy, and European Council President Antonio Costa. His diplomatic outreach signals a broader effort to reposition Canada on the world stage, particularly in light of shifting geopolitical dynamics. 

Domestically, Carney faces the challenge of governing with a minority government, as the Liberals secured 168 seats—one fewer than initially reported—following a validation process by Elections Canada. The Conservatives hold 144 seats, while the Bloc Québécois, NDP, and Green Party make up the remainder of the House. 

As Carney steps into the spotlight today, Canadians will be watching closely to see how he plans to navigate the political landscape and deliver on his campaign promises. His remarks are scheduled for 11 a.m. EDT, where he will take questions from the media. 



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