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Ryanair warns soaring jet fuel prices could topple some European airlines

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The airline says the price of jet fuel could soar next summer amid the ongoing conflict in the Middle East

Ryanair adds 500 extra flights for October half-term getaway with 100,000 seats

Passengers queuing up to get on Ryanair planes at Stansted Airport(Image: Niall Carson/PA Wire)

Ryanair is warning that jet fuel prices could rocket next summer, putting some of its European rivals at risk of going under.

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The budget carrier announced it had taken emergency measures to shield itself from the elevated jet fuel costs triggered by the Iran war, scaling back its passenger targets from 216m to 214m for this year.

The Dublin-based airline revealed it had locked in fixed-price contracts for 80 per cent of its fuel requirements for the year ahead, but chose to axe certain flights to reduce the volume of fuel it must purchase at market rates.

The reduced flight schedule is expected to ease Ryanair’s winter losses by €70m to €100m. The carrier remains on course to grow its summer passenger numbers by more than five per cent to 145m this year.

Ryanair cautioned that several of its European competitors face greater exposure to the surging jet fuel costs brought about by the closure of the Strait of Hormuz, as reported by City AM.

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“If high oil prices continue through to [next summer], Ryanair believes short haul airfares in Europe will increase materially to reflect higher oil prices,” the Dublin-based firm said.

“Some less well-hedged competitors will struggle to maintain capacity or even survive this coming winter season.”

In July, Ryanair disclosed that the cost of the 20 per cent of its fuel requirements that were not fixed-price had more than doubled at the start of this year, to $150 per barrel.

Consequently, the carrier’s operating costs surged 11 per cent to €3.8bn in the three months to June, while its pre-tax profit plummeted 36 per cent to €593m.

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The airline, which is listed in both Dublin and New York, announced in May that it would slash some of its fares to drive up passenger volumes and counter the softening demand triggered by the Middle East conflict.

Ryanair is far from alone in feeling the pinch from the Iran war. Tourism giant Tui swung to a €17m loss in the six months to June, attributing the shortfall to rising fuel costs and subdued travel demand.

Easyjet absorbed a £200m blow to its profits in the three months to June, as fuel costs per passenger rocketed by £100m, or 13 per cent.

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Perdaman incentivises local fertiliser sales

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Perdaman incentivises local fertiliser sales

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Agilent: The Recovery Is Real, But So Is The Valuation (NYSE:A)

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Agilent: The Recovery Is Real, But So Is The Valuation (NYSE:A)

This article was written by

I am an equity investor with a strong focus on fundamental, bottom-up stock analysis combined with a structured macro framework. My investment approach centers on understanding business models in depth, assessing competitive positioning, and evaluating long-term value creation through disciplined valuation work. I focus on identifying companies with resilient cash flows, strong capital allocation, and durable competitive advantages. My sector focus is primarily on technology, healthcare, and utilities. I am particularly interested in how company fundamentals interact with broader macroeconomic developments. Alongside bottom-up research, I monitor key macro indicators such as interest rates, inflation, credit conditions, and policy developments to assess their impact on sector dynamics and valuation multiples I have gained experience in stock picking and portfolio management within institutional investment environments, contributing to idea generation and portfolio construction. I write on Seeking Alpha to publish data-driven investment theses grounded in fundamental analysis and valuation discipline. My objective is to provide clear, independent analysis with a long-term investment perspective.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of A, DHR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Which? says fake 10 Downing Street listing exposes ‘unfit’ Booking.com checks

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Close-up of orangutan's eyes

Consumer group Which? says it was able to create a fake listing for 10 Downing Street on travel giant Booking.com.

The UK watchdog said its researchers were able to book a bogus stay at the prime minister’s address – as well as leave a fake review noting “hanging out” with resident mouser Larry the cat as a highlight.

It said despite clear signs it was fake, Booking.com did not remove the listing until two months after it was uploaded.

“This limited test is not a true reflection of the experience of millions of listings or reviews published on our platform,” a Booking.com spokesperson told the BBC.

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They said because Which?’s listing was not “live” on its site across the two months it was present, “some of our automatic fraud controls were not triggered to completely remove the closed listing”.

People could only see the listing and request to book the property during a 20-minute window opened by Which? so its researchers could try to book it.

Booking.com’s spokesperson added “a range of checks and verification measures” help secure the site, and technologies such as AI “help us detect and remove the majority of fraudulent listings within 24 hours”.

But Which? Travel editor Rory Boland said its checks had been shown to be “unfit for purpose”.

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“If Booking.com’s so-called sophisticated AI systems can’t spot that 10 Downing Street is not a holiday rental, then it’s no wonder scammers can exploit the platform so easily,” he said.

“It would be laughable that we were able to list the UK’s most famous address for rent, if the consequences weren’t so devastating for holidaymakers, who risk losing thousands of pounds to bogus listings and phishing links.”

It is not the first time the site has faced criticism over its security efforts and customer service.

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Apple’s accusations are making things uncomfortable for OpenAI

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Apple's accusations are making things uncomfortable for OpenAI

A laptop arrived late. What was on it made things worse. And now Apple is asking a federal court to move faster, arguing that evidence in its lawsuit against OpenAI is being actively destroyed.

Apple filed a new brief on Aug. 31, escalating its legal battle against the ChatGPT maker. The filing accuses OpenAI of withholding key evidence and alleges that a former Apple engineer sent instructions to an OpenAI colleague to destroy documents. The colleague confirmed she would comply, Bloomberg reported.

What Apple’s new court filing says about OpenAI

The brief was filed Monday, Aug. 31, in support of Apple’s motion for expedited pretrial fact-finding in its trade secrets lawsuit against OpenAI.

Apple’s lawyers said OpenAI only recently provided a critical piece of evidence: an Apple-issued MacBook that former engineer Chang Liu had been using since leaving the company.

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Initial forensic analysis of the laptop found that Liu and colleagues at OpenAI “were well aware” of his continued unauthorized access to Apple’s third-party cloud storage providers. The filing alleges Liu also “sent instructions for destroying evidence to an OpenAI colleague who confirmed she would comply.”

More OpenAI:

Apple also claimed Liu “used a tool in his work at OpenAI that has the same name as an internal Apple engineering application used for Apple development work.”

The company’s lawyers wrote that the laptop “shows Apple is not conducting ‘fishing expeditions’ but that its trade secrets are being used and evidence is being destroyed,” Bloomberg reported.

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OpenAI did not immediately respond to a request for comment.

Why Chang Liu is central to the Apple-OpenAI lawsuit

Liu left Apple for OpenAI in January 2026. He is one of more than 400 former Apple employees who have gone to work for the AI company.

That number is central to Apple’s original complaint, which accused OpenAI of actively recruiting Apple workers and encouraging them to share confidential information, components, drawings and other materials related to unreleased products while taking steps to cover its tracks.

Apple’s filing states Liu “not only downloaded a confidential Apple circuit schematic but also used it in his work” at OpenAI, Bloomberg reported.

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Downloading proprietary schematics is one thing. Using them in your new employer’s work is another. Apple’s lawyers are making that distinction count.

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Kate Middleton Had To Teach Prince William How To Give Their Kids A Piggyback, New Royal Book Claims

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Prince William and Prince George

LONDON — Prince William had to be taught by his wife, Catherine, Princess of Wales, how to give his children a piggyback because he never received one himself growing up, according to new claims from former royal household staff featured in an upcoming book.

The details are included in “Yes Ma’am: The Secret Life of Royal Servants,” a book by author Tom Quinn that draws on interviews with people who worked inside royal households, offering a rare glimpse into the private family dynamics behind palace walls.

According to a former Kensington Palace maid quoted in the book, Catherine had to walk her husband through basic parenting gestures that many families take for granted, including something as simple as carrying a child on his shoulders.

“Kate had to explain many of the things that parents outside the royal family do with their children as a matter of course,” the former maid told Quinn. “She had to show him how to give the children a piggyback, for example. William said very quietly, ‘My father never gave me a piggyback.’”

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The remark, if accurate, offers a window into the emotional distance that has long been described in accounts of William’s own childhood, when royal duties and public appearances often took precedence over conventional family life. William and his younger brother, Prince Harry, were raised under near-constant public scrutiny, accompanying their parents, King Charles III and the late Princess Diana, on numerous official tours from an early age.

That upbringing, according to the accounts gathered in Quinn’s book, appears to have shaped both William’s approach to fatherhood and his temperament more broadly. An extract published in The Times cited another former staff member describing both Charles and William as prone to impatience.

“[King Charles and William] both get irritated very quickly. They are very picky. It comes naturally to them,” the former staff member said.

In such moments, according to the same account, it is Catherine who often serves as a stabilizing presence within the family. A source close to the household suggested that role has become an essential part of the couple’s dynamic since their 2011 wedding.

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“I don’t know where William would be without Kate — she hasn’t had everything done for her throughout her life, so she calms him down when he gets a bit fractious,” the insider said, adding that “she sometimes has to be treated as her fourth child.”

The claims add to a broader portrait offered throughout the book of Catherine as someone who navigated the unfamiliar customs and rigid hierarchies of royal life with patience and discretion, rather than attempting to immediately reshape them to her own preferences. A former Kensington Palace employee described her approach to adapting to palace culture in similar terms.

“Kate is someone who slowly and carefully absorbs the atmosphere of a place, the relationship between people and the rules,” the employee told Quinn. “She doesn’t jump in straight away and try to change everything to suit her way of thinking. She bides her time and is very intelligent and intuitive about other people, what they do and how they behave.”

That same source said Catherine received guidance not only from William, who reportedly wanted to help her avoid some of the difficulties his mother, Diana, faced after marrying into the royal family, but also from household staff themselves.

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“She was also coached — not just by William, who wanted Kate to avoid the problems his mother had encountered, but also by the staff,” the source said. “Kate was always happy to accept advice both from the lower staff, with whom she got on very well, and from the courtiers, even though some of them were initially very snooty about her.”

The dynamic described in the book reflects a period of significant adjustment for Catherine, who began her relationship with William in 2003 while both were students at the University of St Andrews in Scotland. The couple married on April 29, 2011, at Westminster Abbey in a ceremony watched by a global television audience, after which Catherine took the title Her Royal Highness The Duchess of Cambridge. William, meanwhile, was granted the titles Duke of Cambridge, Earl of Strathearn and Baron Carrickfergus by his grandmother, the late Queen Elizabeth II.

The couple’s titles changed again more than a decade later. On September 9, 2022, following the death of Queen Elizabeth II and Charles’s accession to the throne, William was formally invested as Prince of Wales, a title that made Catherine the Princess of Wales — a title previously held by William’s mother, Diana, until her death in a car crash in Paris in August 1997 at the age of 36.

William and Catherine now have three children together: Prince George, Princess Charlotte and Prince Louis, all of whom have grown up largely out of the harsh media spotlight that defined their father’s own early years, a shift widely attributed to the couple’s deliberate efforts to shield their children from the level of public exposure William and Harry experienced as boys.

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Quinn’s book joins a growing body of published accounts from former royal staff members offering insight into life inside Britain’s royal households, a genre that has proliferated in recent years as former employees, biographers and royal commentators continue to produce detailed portraits of the family’s private dynamics. Buckingham Palace and Kensington Palace do not typically comment on individual claims made in such books, and neither William nor Catherine has publicly addressed the specific anecdotes attributed to them in “Yes Ma’am: The Secret Life of Royal Servants.”

The book adds to renewed public interest in the Wales family’s private life this year, amid continued scrutiny of the broader royal family’s internal relationships following years of public tension between William and his brother, Prince Harry, who has separately made a series of claims about their upbringing and relationship in his own memoir and subsequent interviews.

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TBZ surges over 38% in two sessions, extending gains after hitting upper circuit. What’s triggering the rally?

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TBZ surges over 38% in two sessions, extending gains after hitting upper circuit. What's triggering the rally?
Tribhovandas Bhimji Zaveri shares have surged 38.9% across two sessions, climbing from Monday’s close of Rs 304.45 to Rs 423 at 9:25 am on Wednesday, as investors continued to react to GRT Jewellers’ proposed acquisition of the listed jewellery retailer.

The stock advanced 16.11% on Wednesday, gaining Rs 58.70 after opening at Rs 380. The rise followed Tuesday’s rally, when TBZ hit its upper-circuit level of Rs 366.80.

During Tuesday’s session, the stock opened at Rs 315 and touched a low of Rs 313.10 before rallying sharply.

The rally followed GRT Jewellers’ announcement that it would acquire TBZ’s entire promoter holding and take control of the company.

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Under the share purchase agreement, GRT will acquire 4.95 crore shares, representing 74.12% of TBZ’s voting capital, at a maximum price of Rs 209 per share. The promoter-stake transaction is valued at up to Rs 1,033.71 crore.


The sellers include members of the Zaveri family and two promoter-group companies, which will exit their holdings after the transaction closes.
The acquisition triggered a mandatory open offer for up to 1.73 crore shares, representing the remaining 25.88% of TBZ’s voting capital, at Rs 249.61 per share. If fully accepted, the cash offer could cost GRT as much as Rs 431.10 crore, taking the maximum combined transaction value to about Rs 1,465 crore, according to the company’s filing.Although takeover regulations require an open offer for at least 26% of a target company’s voting capital, GRT’s offer covers 25.88% because that represents TBZ’s entire public shareholding as of the announcement date.

The rally has widened the gap between TBZ’s market value and the transaction prices. At Rs 423, the stock was trading nearly 69.5% above the open-offer price of Rs 249.61, and more than double the Rs 209-per-share price agreed for the promoter stake.

Despite the open offer being priced below the prevailing market value, the two-day advance appeared to reflect investor expectations surrounding the change in ownership and TBZ’s growth prospects under the new promoter.

Following completion of the acquisition, GRT will assume control of TBZ and become its promoter. The existing promoters will cease to be shareholders and will be declassified from the promoter and promoter-group category.

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The transaction is subject to approval from the Competition Commission of India and identified lenders, along with other conditions under the share purchase agreement. The price paid for the promoter stake may be adjusted downwards but cannot be increased.

GRT has said it does not intend to delist TBZ. If the acquisition and open offer reduce public shareholding below the mandatory 25% threshold, the acquirer will take steps to restore compliance within the period permitted by listing regulations.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Equatorial subsidiary EEPL fails to block Clifford Chance in arbitration

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Equatorial subsidiary EEPL fails to block Clifford Chance in arbitration

The Supreme Court of WA has dismissed Equatorial Resources’ urgent attempt to block its former legal advisers Clifford Chance from starting international arbitration.

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Earnings call transcript: Woolworths Holdings H2 2026 sales rise as strategy resets

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Earnings call transcript: Woolworths Holdings H2 2026 sales rise as strategy resets

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Aussie shares fall as uncertainty hangs over markets

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Aussie shares fall as uncertainty hangs over markets

Yes. Corporate subscriptions are available for teams and organisations, with discounted rates as user numbers increase. Pricing starts from $1,625 + GST per user.
Get in touch
to discuss the right option for your organisation.

Business News subscriptions are used by executives, investors, consultants and professionals who need to stay informed and make better decisions about the WA market. When you subscribe you’ll get

  • Unlimited access to WA’s most trusted business journalism
  • Data & Insights — detailed profiles of WA companies, people, projects and deals
  • MyBN — a personalised feed based on the companies, people and sectors you follow
  • Special publications and industry reports
  • Daily and weekly email newsletters

Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

  • Look up detailed profiles of WA companies, including financials, directors and ownership
  • Find decision-makers and track their career movements
  • Research live and completed projects across WA industries
  • Monitor deals, appointments and market activity
  • Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
general@businessnews.com.au, and we’d be happy to assist.

Advertisement

MyBN
is part of every subscription. It’s your personalised view of Business News. You can follow the companies, people, sectors and projects that matter to you, and get a news feed and alerts tailored to your interests. You can save articles to read later and retain only what you need.

Only subscribers have full access to all content on the Business News website.

Advertisement

If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

  • Executives and directors tracking competitors, clients and market movements
  • Investors and advisers researching companies, deals and industry trends
  • Consultants and professionals staying across sectors relevant to their clients
  • Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

Advertisement

The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

The BN Weekender Email contains a wrap of the Business News from the week that was, highlighting the top stories in each area of WA business.
Sign up for free.

Advertisement

We’re happy to help.
Get in touch
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Perth to experience ‘short, shallow’ house price dip: Reardon

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Perth to experience ‘short, shallow’ house price dip: Reardon

The HIA chief economist says home values in the WA capital could increase again as early as next year.

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