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Air Transat Faces Flight Suspensions Amid Pilot Strike Notice

  Air Transat has announced it will gradually suspend flights starting Monday following a 72-hour strike notice issued by its pilots’ union. The Air Line Pilots Association (ALPA), representing roughly 700 pilots, delivered the notice after nearly a year of unsuccessful negotiations with the airline’s parent company, Transat A.T. Inc. Background The union filed the strike notice on Sunday, giving pilots the legal right to walk off the job as early as Wednesday. Last week, pilots voted 99% in favor of strike action , underscoring their frustration over stalled contract talks. ALPA leaders emphasized that pilots do not want to strike but feel compelled to act after management failed to meet demands for a modernized agreement. Airline Response Air Transat confirmed it will begin suspending flights gradually between December 8 and 9 to prepare for a possible full shutdown. The company stated it is working “around the clock” to reach a deal and minimize disruption for trave...
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Lukoil Moves to Divest Global Holdings Amid Escalating Sanctions

                            General view of Orsknefteorgsintez oil refinery in the Orenburg region.


Russia’s second-largest oil producer, Lukoil, has announced plans to sell off its international assets in response to a fresh wave of Western sanctions targeting the company and its subsidiaries. The move marks one of the most significant corporate retreats by a Russian energy giant since the start of sanctions linked to the war in Ukraine.

In a statement, Lukoil said the decision was made “owing to the introduction of restrictive measures” and confirmed that it has already begun considering bids from potential buyers. The sales process is being conducted under a U.S. Office of Foreign Assets Control (OFAC) wind-down license, which allows the company to continue operating its overseas businesses temporarily while transactions are finalized. Lukoil also indicated it may seek an extension of this license to ensure uninterrupted operations during the transition.

The company’s international portfolio is extensive, spanning refineries in Italy and the Netherlands, as well as upstream projects in Iraq, Uzbekistan, and West Africa. Its largest foreign holding is a 75% stake in Iraq’s West Qurna-2 oil field, one of the world’s biggest reserves.

The sanctions, imposed by the United States and Britain in October 2025, targeted both Lukoil and Rosneft, along with dozens of subsidiaries and shipping assets, in an effort to further restrict Russia’s energy revenues. Analysts suggest that the forced divestment could reshape global energy markets, particularly in Europe, where Lukoil has maintained a strong downstream presence.

While the company has not disclosed potential buyers, industry observers expect interest from Middle Eastern and Asian firms seeking to expand their global footprint. However, the sales process is likely to be complicated by the sanctions regime, which could deter Western-linked bidders.

Lukoil’s decision underscores the growing pressure on Russian energy companies as sanctions continue to tighten, forcing them to scale back international ambitions and refocus on domestic operations.


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