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Greek Tanker Struck by Missile in Black Sea, Crew Emerges Unharmed

  A Greek‑flagged tanker sailing near the Russian port of Novorossiysk was struck by a missile but remained operational, and all 24 crew members were confirmed safe.   A Greek‑owned and Greek‑flagged tanker sustained material damage after being hit by a missile while sailing approximately 14 nautical miles off the Russian port of Novorossiysk in the Black Sea. According to authorities, the vessel—operated by Maran Gas Maritime—was not carrying cargo at the time of the strike and continued to navigate safely following the incident.  All 24 crew members on board, including ten Greek nationals, thirteen Filipinos, and one Romanian, were reported to be in good health. The impact caused damage to the starboard side of the ship, but no assistance or towing was required. The tanker remained fully operational, and no environmental pollution was reported.  Greek officials have condemned the attack as dangerous and unacceptable, noting that the incident occurred amid height...
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Fuel Turbulence: How Canadian Airlines Are Navigating Soaring Jet Fuel Costs

 


Canadian airlines are facing a sharp surge in jet fuel costs, prompting carriers like Air Canada and Air Transat to raise fares and adjust fuel surcharges as hedging strategies prove insufficient. The spike—driven largely by Middle East conflict and supply disruptions—has forced airlines to balance cost control with maintaining passenger demand. 


Rising Fuel Costs Shake the Industry

Canadian airlines are grappling with jet fuel prices that have surged dramatically due to geopolitical tensions, particularly the war in the Middle East and disruptions in the Strait of Hormuz. Jet fuel has climbed as much as 40% in a matter of weeks, far outpacing crude oil increases.

How Airlines Are Responding

  • Higher Ticket Prices:
    Air Transat and Air Canada have begun raising fares, especially on routes with strong demand or limited competition. Fuel surcharges on European flights have already increased.

  • Hedging Isn’t Enough:
    Even airlines that hedge fuel costs are feeling the pressure. Jet fuel prices have doubled since the Iran conflict began, exposing the limits of hedging strategies and forcing carriers to pass costs to consumers.

  • Industry-Wide Adjustments:
    Some airlines are adding new fees, while others are considering capacity cuts to offset rising operating expenses. Fuel remains one of the largest cost drivers in aviation, leaving few alternatives. 

The Bigger Picture

The rapid escalation in fuel prices is reshaping airline economics globally, and Canadian carriers are no exception. As geopolitical instability continues, travelers may see further fare increases, especially on long-haul and peak-season routes.


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