Ryanair reported a 34% Q1 profit drop to 538 million euros, attributing it to consumer booking delays due to the Middle East crisis and rising unhedged fuel costs. The budget carrier warns of a "difficult winter" for struggling European airlines, with potential failures.
Ryanair reports a 34% drop in Q1 profit to €538M due to delayed bookings amid the Middle East crisis, warning of a 'difficult winter' for European airlines with rising fuel costs and consumer hesitancy.
Cerebras, a US-based AI chip maker, announced plans to launch its first European data centre by the end of 2026, followed by rapid expansion across France and the Nordics by 2027. The initiative aims to boost AI computing capacity in Europe, addressing demand for local, low-latency infrastructure and offering an alternative to US and Asian compute capacity.
The European Shooting Confederation (ESC) has moved the 2027 European Air Rifle Championship from Tallinn, Estonia to Granada, Spain. This decision follows Estonia's refusal to allow Russian athletes to compete.
Airlines and airports warn the EU's new Entry/Exit System (EES) is causing critical travel delays, with passengers facing 5-hour queues. Industry groups urge immediate intervention to prevent further deterioration during peak summer travel.
Rome's airport chief warns the EU's new digital border system (EES) could cause "disaster" this summer. Marco Troncone stated suspending biometric checks for non-EU citizens is the only way to avoid travel chaos, citing faulty technology and long queues.
Bitcoin miner IREN has acquired Spanish data center developer Nostrum Group, adding 490 MW of power and a development pipeline in Spain. This move expands IREN's global power portfolio to 5 GW and supports its strategic pivot towards AI cloud services, seeking more predictable revenue streams.
South Korean defense firm LIG Defense & Aerospace (D&A) has partnered with Germany's Rheinmetall to supply air defense systems to the European market. The agreement, signed at the Eurosatory 2026 exhibition in France, aims to establish a joint venture for R&D, marketing, and production.
Russian Senator Vladimir Dzhabarov stated that Ukraine would cease hostilities and negotiate if European military and financial aid were halted. He expressed skepticism about reported efforts by Germany, France, and Britain to broker peace talks, believing Ukraine benefits from continuing the war.
SoftBank Group has surpassed Toyota as Japan's most valuable company, driven by significant investments in AI, particularly OpenAI. SoftBank's market valuation reached $305 billion after a 14% stock surge, while Toyota's fell to $288 billion.
EasyJet's share price rose only 10% on a takeover approach from US fund Castlelake, prompting skepticism. Key factors for a potential deal include valuation, European ownership rules, and the stance of founder Sir Stelios Haji-Ioannou.
Lovable, a Swedish AI startup, is recruiting tech workers laid off from US companies, citing the end of American big tech as the safe, prestigious choice
A new report by ISGlobal estimates that cuts to foreign aid budgets by the UK, France, and Germany could lead to over 11.5 million preventable deaths by 2030. The UK's ODA spending is projected to fall by 45%, Germany's by 37%, and France's by 30%, with significant impacts on global health and development.
A small group of European technology stocks tied to AI infrastructure has surged in 2026 as investors look beyond U.S. and Chinese leaders. Analysts say the rally reflects concentrated bets on infrastructure suppliers rather than a broad European AI expansion.
By mid-2026, Russia's Ukraine invasion has transformed into a grinding conflict. Ukraine's successful drone warfare and long-range strikes on Russian infrastructure are reshaping the battlefield. Russia, adapting with infiltration tactics and glide bombs, faces a new, industrialized war of attrition. European aid bolsters Ukraine's defense, while diplomatic progress remains stalled.
Jet fuel has doubled in price since the start of the war on Iran. How bad will the disruption get and could this accelerate the route to jet zero?What happens to flights if the world runs out of oil? Well, obviously they will be grounded. To be more specific, is it possible, if the war in Iran does not resolve and the strait of Hormuz remains blocked, that airlines will simply run out of aviation fuel?It’s not a question anyone has had to ask before. Air travel has hit some hurdles this century that nobody could have seen coming – Covid, of course, but also the Icelandic volcano in 2010, which closed much of European airspace for eight days, cost an estimated €3.75bn (£3.2bn) and caused untold supply chain chaos. There have been problems contained within a country or region – the Heathrow substation outage and the Iberian energy crisis, both last year, both closing airports – but since air travel began, it has never been globally impeded by a fuel shortage. Continue reading...
Jet fuel prices in Europe have more than doubled since the closure of the Strait of Hormuz, squeezing carriers ahead of peak summer travel.
Ryanair CEO Michael O'Leary warned that European airlines will fail if jet fuel prices remain elevated over summer. Speaking at a conference in Oslo, he said fuel has surged from $80 to $150 per barrel since the Strait of Hormuz was blockaded following the Middle East war that began Feb. 28. While Ryanair has hedged 80% of its fuel, O'Leary predicted competitors will face financial difficulties and potential bankruptcies if prices stay at $150 into July-September.
Robert Garbett, head of Drone Major Group, warns that European nations lack adequate defenses against drone threats to critical infrastructure, urging governments to shift responsibility from private operators to national-level security systems.
European flight prices are falling as airlines offer discounts to overcome customer hesitancy over economic concerns from the US-Israel war with Iran, Wizz Air CEO József Váradi said. Jet fuel costs have surged from $831 to around $1,500 per metric tonne since late February, with Europe heavily dependent on Gulf imports now blocked by the Strait of Hormuz closure. While many airlines are raising prices, European carriers can cut fares short-term because they hedged fuel purchases before the conflict began.
The outspoken CEO of Europe’s biggest airline named Wizz Air and airBaltic as among those at risk.
European airlines are cutting thousands of flights this summer as jet fuel prices have roughly doubled since the U.S. and Israeli-led war began, with Europe importing about a third of its jet fuel from the Middle East. Lufthansa announced 20,000 flight cuts through the fall, while KLM and Scandinavian Airlines also announced schedule reductions. The International Energy Agency warns Europe faces its biggest energy security threat with jet fuel imports from the Middle East now nearly zero.
The increased use of the pipeline comes at a time when European airlines and airports are already facing serious fuel supply challenges due to the conflict with Iran
European airports face potential jet fuel shortages within three weeks if the Strait of Hormuz remains closed, warns ACI Europe. Prices have already hit record highs, prompting calls for EU intervention, including collective purchasing and temporary lifting of import restrictions.
