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International Airlines Group expects to spend £1.7bn more on fuel than planned since US-Israeli attack on IranBusiness news – live updatesThe parent company of British Airways has issued a profit warning and said it expects to spend about €2bn (£1.72bn) more on fuel than planned this year due to the Iran war.International Airlines Group (IAG), which also owns Aer Lingus, Iberia and Vueling, said it has hedged 70% of its expected fuel use for this year with costs expected to be about €9bn, up from previous forecasts of €7.1bn. Continue reading...

• Fred Hutch Cancer Center in Seattle announced recent research findings on May 6, 2026, addressing multiple areas including improved outcomes for stem cell transplants and newly explored connections between solar jetlag and liver cancer development. • The research represents efforts to expand the range of cancer treatment targets beyond conventional approaches, with implications for patient outcomes across multiple cancer types. • These findings contribute to the broader understanding of both cellular and environmental factors influencing cancer development and treatment efficacy, potentially informing new therapeutic strategies.

Heidi Alexander says part of answer to strait of Hormuz crisis is importing more fuel from US and west AfricaA refinery in Nigeria accused of dismissing workers for joining a union has emerged as key to the UK government’s hopes of saving the summer holiday amid a jet fuel shortage.Heidi Alexander, the transport secretary, said at the weekend that part of the answer to the strait of Hormuz crisis was to import more fuel from the US and west Africa. Continue reading...

Carriers examining which flights can be cancelled with least disruption under plans to avoid summer travel chaosUK airlines will be able to cancel or consolidate flights this summer under new plans to conserve jet fuel as the war in the Middle East continues to disrupt supplies.The measures are being taken to avoid major disruption as Britons jet off on their summer holidays. Airlines are looking carefully at their timetables to see which flights can be cancelled in advance and cause the least delays. Continue reading...

• An international team including University of Wisconsin–Madison researchers measured the force of particle jets blasted from a black hole in the Cygnus system. • This first-of-its-kind measurement confirms a prediction made by UW-Madison astronomers a decade ago. • The findings validate long-standing theories on black hole jet mechanics, advancing astrophysics understanding.

Foreign affairs minister says China has agreed to facilitate exports of jet fuel to ease supply disruptions. Follow today’s news liveGet our breaking news email, free app or daily news podcastGood morning and welcome to our live news blog. I’m Martin Farrer with the top overnight stories and then it will be Nick Visser with the main action.Penny Wong has been busy on her latest overseas trip, saying China has agreed to negotiate on jet fuel sales to help ease the global oil crisis. Continue reading...

Government request follows contingency to stop planes being grounded if Iran war supply shocks continueBusiness live – latest updatesBritish refineries have been asked to maximise jet fuel supply as part of government contingency planning, amid growing fears the Iran war will force planes to be grounded.Energy minister Michael Shanks said the government is closely monitoring UK jet fuel stocks and working with airlines, airports, fuel suppliers and other governments, as carriers face rocketing fuel costs as a result of the conflict. Continue reading...

Industry analysts say fuel price surge could lead to canceled flight routes that could snarl travelers’ plansCalifornia’s jet fuel supply has dropped to a level not seen since 2023, as turmoil in the Middle East continues to squeeze the global oil market.As of 17 April, the state’s jet fuel stock was just over 2.6m barrels, in comparison to 3.2m barrels two years prior, according to the California energy commission (CEC), which publishes a refinery stocks data dashboard. Continue reading...

Carriers will retain airport slots if they cancel services as passengers are urged to continue with travel plansPenalties on airlines that cancel UK flights because of jet fuel shortages have been eased, it has emerged, as the government issued fresh advice to reassure the public they can still fly and should stick to travel plans.Airlines who cancel flights will not lose their rights to valuable takeoff and landing slots at busy airports, which can be forfeited when flights fail to operate over a period. Continue reading...

Lawsuit follows exchange on X in which airline suggested customer should clear their cache or book with incognito windowSign up for the Breaking News US email to get newsletter alerts in your inboxJetBlue has been sued in a proposed class action claiming it uses customers’ personal data to set ticket prices, after its response to a social media post raised concern that the carrier employed “surveillance pricing” to make flying more expensive.According to a complaint filed late Wednesday in Brooklyn federal court, JetBlue conceals its use of “trackers” to set prices dynamically, and shares data with third parties whose programs help it decide when to raise fares. Continue reading...

One pilot ordered to repay some of the $600,000 of damage caused by collision in 2021South Korea’s air force has apologised for a 2021 mid-air collision involving two fighter jets, a day after auditors said pilots were taking selfies and filming during the flight and held them responsible for the accident.“We sincerely apologise to the public for the concern caused by the accident that occurred in 2021,” an air force spokesperson said in a press briefing. The spokesperson said one of the pilots involved had been suspended from flying duties, received severe disciplinary action and has since left the military. Continue reading...

• Iran shot down a US F-15E fighter jet over Iranian territory, representing a major battlefield setback in escalating tensions. • President Trump reacted with hours of intense exchanges with aides, reported by The Wall Street Journal as a full meltdown. • The incident underscores growing military confrontations amid collapsing ceasefire and stalled US-Iran diplomacy.

There will be flight cancellations ‘soon’ if oil supplies are not restored in coming weeks, says head of IEABusiness live – latest updatesMiddle East crisis – live updatesEurope has only six weeks’ supply of jet fuel left before shortages will hit because of the Iran war, according to the head of a global energy watchdog.Fatih Birol, the executive director of the International Energy Agency (IEA), said there would be flight cancellations “soon” if oil supplies from the Middle East were not restored within the coming weeks. Continue reading...

Budget airline says passengers are leaving it later to book flights owing to economic uncertaintyBusiness live – latest updatesThe budget airline easyJet has warned the impact of the Iran war on bookings and oil prices will hit its profits, having driven up fuel costs by £25m in the last month alone.It said it expected to report an increased pre-tax loss of £540-£560m for the six months to March, up from £394m in the first half of 2024-25. The carrier typically makes its money in the second half of the year which includes the peak summer period. Continue reading...

• A US fighter jet was shot down over Iranian airspace, marking a significant escalation in military confrontations amid ongoing US-Iran hostilities that began on February 28, 2026. • The incident occurred as tensions remain high following the killing of Iranian Supreme Leader Ali Khamenei and subsequent Iranian retaliatory strikes against Israel and US bases across the region. • The downing of the aircraft raises concerns about potential further military escalations and complicates ongoing ceasefire negotiations between US and Iranian delegations.

Summer flights and holidays may also be at risk, says the Airports Council International European airports have said jet fuel shortages could hit the summer holiday season, if oil supplies do not start to flow through the strait of Hormuz within the next three weeks.Airports Council International (ACI) Europe wrote to Apostolos Tzitzikostas, the EU transport commissioner, saying the bloc is three weeks away from shortages. Continue reading...

US congressman decried bets on when two crew members on the F-15 jet shot down by Iranian forces would be rescuedAfter strong criticism from a federal lawmaker, the online betting platform Polymarket stopped accepting wagers on when US warplane crew members who were shot down in Iran might be rescued. It promised to investigate how the market materialized.The criticism came from Seth Moulton, a Massachusetts Democratic representative who earned two bronze star medals serving with the United States marine corps in Iraq from 2003 to 2008 and published an X post describing Polymarket’s acceptance of bets on the downed pilots’ fate as “DISGUSTING”. Continue reading...

• A US fighter jet was shot down over Iran as military tensions between Washington and Tehran intensify dramatically. • The incident marks a significant escalation in direct military confrontation between the two nations amid ongoing threats and counter-threats. • US forces have deployed advanced long-range missile systems in response, positioning for potential large-scale operations.

• A US fighter jet was shot down over Iranian territory on April 3, 2026, intensifying the US-Israeli war on Iran that began with airstrikes on February 28 targeting nuclear sites and leadership. • The incident prompted immediate retaliatory concerns, with Bitcoin prices wavering amid rising geopolitical risk premiums affecting crypto markets globally. • Iran's closure of the Strait of Hormuz has triggered the largest oil supply disruption since the 1970s, spiking energy prices and impacting US economy.

Military pilots said F-15 crew member would be trying to hide for as long as possible from the Iranian militaryUS search and rescue efforts for the missing second crew member of the downed F-15E fighter jet continued into a second day as Iran came under heavy bombing and Israel extended the war in Lebanon.A pilot had been rescued on Friday after the F-15E Strike Eagle became the first US plane to be downed over Iran during the five week long war, but the second of the two strong crew has not been accounted for. Continue reading...

• Two U.S. fighter jets were downed by Iranian fire, with one pilot successfully rescued following an active search and rescue mission in the ongoing Iran conflict. • Two Black Hawk helicopters were also struck by incoming Iranian fire during operations, according to defense officials. • Defense Secretary Pete Hegseth has maintained that U.S. forces have significantly degraded Iran's air defense capabilities in recent weeks.

Iran’s Revolutionary Guard Corps said it was combing an area near where plane came down in south-western Iran; Israeli military strikes ‘Hezbollah infrastructure’ in Lebanon capitalUS F-15E jet confirmed shot down over Iran as Tehran releases wreckage imagesHello and welcome to our continuing live coverage of the US-Israeli war on Iran and its impact on the region, the world and the global economy.Iranian and American forces were racing each other early on Saturday to recover a crew member of the first US fighter jet to go down inside Iran since the start of the war.Tehran rejected a US proposal for a 48-hour ceasefire, said Iran’s semi-official Fars news agency, citing an unnamed source. There was no immediate comment from the US. Earlier, the Wall Street Journal reported that Iran had officially told mediators it was unwilling to meet with US officials in Islamabad in the coming days.The UN force in Lebanon said a blast at one of its positions had wounded three peacekeepers, two of them seriously, in the third such incident in a week.Israeli fire killed a man in Syria’s Quneitra province in the south near the Israeli-occupied Golan Heights, Syrian state media said. The man was killed in an attack by “an Israeli tank”, the Sana agency said, while state TV said a car was targeted.An Egyptian national was killed and four others wounded after a fire at a gas complex in Abu Dhabi, caused by falling debris from an intercepted attack, the government media office said. Two of the four people hurt were from Egypt, while the others were from Pakistan, it said.Trump asked lawmakers to approve a $1.5tr defence budget for 2027 as the US faces rising costs from its war with Iran and mounting global security commitments. The proposal would lift Pentagon spending by more than 40% in a single year – the sharpest increase since the second world war.The US embassy in Lebanon said Iran and allied groups could seek to target universities in the country, where Tehran-backed Hezbollah is at war with Israel and Israeli troops are carrying out a ground invasion.Three tankers, including one co-owned by a Japanese company, crossed the strait of Hormuz by hugging close to Oman’s shore –a rare transit route – maritime traffic data showed on Friday. With agencies Continue reading...

Downing of fighter plane – the first shot down over Iran since start of war – prompts frantic US rescue effort A US F-15E fighter has been shot down over Iran, prompting a frantic US search and rescue effort for its two-strong crew, in the first such incident since the start of the war.Images of a tail fin and other debris were released by Iranian state media early on Friday accompanied by an initial claim that an advanced US F-35 and been hit by a new air defence system over central Iran and the pilot probably killed. Continue reading...

Anna Turley questions Reform UK leader’s revised £25,000 figure for failed attempt to reach Chagos Islands on plane linked to billionaire donorLabour has queried Nigel Farage’s claim that a return trip to the Maldives on a private jet linked to a billionaire donor cost as little as £25,000 as the Reform leader attempted to reach the Chagos Islands.Farage initially recorded his two-day trip to the Maldives as costing £12,500 funded by Thailand-based Reform megadonor Christopher Harborne, before upgrading this to £25,000 in the latest register of interests. Continue reading...

Michael O’Leary says UK’s reliance on Kuwait for jet fuel supply amid Iran war exposes it to possible shortagesThe UK is the most vulnerable country in Europe to potential jet fuel shortages as the Iran war throttles supplies from the Gulf, the boss of Ryanair has said.Michael O’Leary, the chief executive of the budget airline, said Britain would be the most exposed to jet fuel shortages because it relies on Kuwait for about 25% of its supply. Continue reading...

• Sysco shares plunged 12% following the announcement of a $29 billion acquisition of Jetro Restaurant Depot, including debt, in a major foodservice industry deal. • The deal aims to expand Sysco's market reach but sparked investor concerns over the high cost and integration risks amid volatile markets. • This merger highlights consolidation trends in the restaurant supply sector, potentially impacting competitors and pricing dynamics.

South Korea’s transport ministry says domestic airlines have asked authorities to redirect export-bound jet fuel back to the local market amid a supply crunch• Get our breaking news email, free app or daily news podcastSouth Korean airlines have asked their government to help redirect jet fuel exports to the domestic market, threatening half of Australia’s imports of the critical fuel after Chinese authorities earlier this month flagged export restrictions.Amid deepening concerns across Asia about the impact of the escalating Middle East conflict, an official at South Korea’s transport ministry told the Guardian that “some domestic carriers” had asked authorities to redirect export-bound jet fuel back to the local market due to supply concerns. Continue reading...

Airline has hedged much of fuel into 2027, avoiding soaring prices, but costs likely to hit passengers by end of summerBusiness live – latest updatesThe boss of easyJet has said the war in the Middle East has started to hit flight bookings, while the soaring price of oil would probably mean a rise in air fares by the end of the summer.The chief executive, Kenton Jarvis, said that while the airline had hedged much of its fuel into next year, avoiding soaring kerosene prices, it was “unavoidable” that some of the costs would be passed on in fares. Continue reading...