Ryanair’s profits have fallen sharply as war in the Middle East sent jet fuel prices soaring and customers reluctant to book flights.

The Irish airline’s pre-tax profits dropped 34% to €593m (£503m) between April and June while sales were flat as the company was forced to cut fares to stimulate demand.

Ryanair also said it expects summer fares to be slightly lower than last year due to “consumer hesitancy” around air travel.

The price of fuelling a plane has jumped since the US and Israel launched strikes against Iran in February and while Ryanair said it had “hedged” or struck deals for the most future fuel costs, those not included in these arrangements had more than doubled.

Overnight, crude oil prices continued to rise, surpassing $90 (£67) a barrel for the first time in a month, after a weekend of intense exchanges of fire between the US and Iran.

Traffic through the Strait of Hormuz – an essential route for global oil and gas supplies – has ground to a halt.

Brent crude, the global benchmark for oil prices, rose by 2.5% on Monday.

Looking ahead, Ryanair said its fares for the key summer period between July and September are “trending modestly down” on the same period last year.

It warned that its results for the year will be “highly sensitive” to external factors such as conflict escalation in the Middle East and Ukraine as well as the price of unhedged jet fuel.

Shane Oliver, head of investment strategy at AMP, a fund manager, said: “The longer the strait remains closed and the war escalates, the greater the risk that oil prices will have to rise to around $150 a barrel to bring demand down to match the hit to supply.”

He said: “This is not our base case but it’s a high risk again.”

Australian wine is having a moment on shelves and dinner tables across the country this year, with industry buyers and reviewers pointing to a lineup that spans world-class cellaring icons priced in the hundreds of dollars down to everyday bottles that consistently outperform their price tag. Drawing on rankings and tasting notes compiled by wine retailers and reviewers through 2026, here is a look at 10 of the best wines available to Australian buyers right now.

1. Penfolds Grange

Widely regarded as Australia’s most prestigious wine, Penfolds Grange continues to anchor discussions of the country’s top bottles in 2026. Priced in the range of $750 to $800, the wine offers aging potential and critical acclaim that industry reviewers say rivals Burgundy Premier Cru or Napa Valley cult Cabernets costing several times more, cementing its position as the benchmark for serious Australian cellaring.

2. Yalumba Caley Cabernet Shiraz

The 2016 vintage of Yalumba’s Caley Cabernet Shiraz blend has been highlighted among the top wines available to Australian buyers this year, representing the classic Cabernet-Shiraz combination that has become one of the country’s signature styles, particularly out of South Australia’s most established wine regions.

3. Torbreck RunRig

Torbreck’s RunRig, drawn from old-vine Barossa Valley fruit, remains one of the region’s most sought-after bottles for collectors and serious drinkers alike. The 2020 vintage in particular has drawn attention this year as one of the standout releases from a producer known for concentrated, powerful Barossa reds built around the region’s century-old Shiraz vines.

4. Henschke Hill of Grace

Alongside Grange, Henschke’s Hill of Grace is frequently cited as one of the two defining wines of Australian fine wine culture, priced similarly in the $750 to $800 range. The wine is produced from a single vineyard of ancient, ungrafted Shiraz vines in the Eden Valley and remains one of the most collected Australian wines internationally.

5. Penfolds Bin 389

For buyers seeking Penfolds quality without the flagship price tag, the Bin 389 Cabernet Shiraz, priced around $85, has been singled out this year as delivering the house’s signature style and genuine cellaring potential at a fraction of Grange’s cost, offering what reviewers describe as quality that would cost roughly three times more from equivalent Bordeaux or Burgundy producers.

6. Barossa Valley old-vine Shiraz

Beyond individual labels, the broader category of Barossa Valley old-vine Shiraz has drawn strong attention heading into 2026, with the 2019 and 2021 vintages singled out as the strongest recent years for the region. The 2019 vintage in particular has been praised for its concentration and tannin structure, reflecting the depth that comes from vines in many cases exceeding a century in age.

7. Thistledown Thorny Devil Grenache

Representing McLaren Vale’s growing reputation for elegant, lighter-styled reds, Thistledown’s Thorny Devil Grenache has been highlighted this year in the $30 to $50 price bracket as an example of the more perfumed, restrained style of Grenache increasingly favored by Australian winemakers, offering red berry and savory spice character without the heaviness traditionally associated with the variety.

8. Clare Valley Riesling

Clare Valley continues to be recognized as one of the world’s premier regions for dry Riesling, with bottles in the $30 to $70 range offering what industry reviewers describe as some of the most exciting drinking available at that price point globally. The region’s crisp, mineral-driven whites remain a consistent recommendation for buyers looking to diversify beyond Australia’s red wine reputation.

9. Margaret River Cabernet Sauvignon

Western Australia’s Margaret River region continues to produce some of the country’s most highly regarded Cabernet Sauvignon, with bottles in the $30 to $70 range drawing praise this year for combining structure and elegance in a style often compared favorably to more expensive international Cabernet-producing regions.

10. Budget-friendly Barossa and McLaren Vale reds

Rounding out the list, buyers looking for reliable everyday drinking without the premium price tag have several strong options in the $20 to $50 range, including McLaren Vale Shiraz, Barossa GSM blends, and Coonawarra Cabernet Sauvignon. Producers such as Langmeil, Credaro and Oliver’s Taranga have been specifically highlighted this year for delivering exceptional quality within that more accessible price bracket, proving that Australia’s wine strength extends well beyond its most expensive labels.

A strong year for Australian wine overall

Industry commentary through 2026 has consistently pointed to Australian wine as offering some of the best value in the global market, with reviewers noting that $25 to $65 now buys a level of complexity and character that increasingly rivals far more expensive European labels. That value proposition, combined with the continued strength of the country’s most prestigious icon wines, has helped reinforce Australia’s position as one of the most dynamic wine-producing nations heading through 2026.

Whether shoppers are building a long-term cellar with icon wines like Grange and Hill of Grace, or simply stocking up for weekend entertaining with reliable bottles from the Barossa and McLaren Vale, this year’s lineup reflects the breadth of what Australian winemaking now offers across virtually every price point and style, from crisp Clare Valley Rieslings to some of the most collectible red wines produced anywhere in the world.

Abu Dhabi’s Zayed International Airport remains open and operational Monday, though travelers flying to and from the United Arab Emirates capital continue to face scattered schedule disruptions as the war between the United States and Iran intensifies across the wider Gulf region.

Unlike several other airports in the region that have faced broader suspensions, Zayed International has maintained continuous operations throughout the recent escalation, with flag carrier Etihad Airways continuing to operate an expanded global network to roughly 80 destinations across Africa, Asia, Australia, Europe, North America and the Gulf Cooperation Council. UAE airspace fully reopened earlier this year following an earlier period of partial restrictions, and officials have not announced any broad network-wide suspension at Abu Dhabi’s main airport as the conflict has continued into July.

Kuwait route among those affected

While the airport itself remains open, individual routes connected to more directly affected countries have faced cancellations. Etihad confirmed it canceled flights EY653 and EY654 between Zayed International and Kuwait International Airport on both July 19 and July 20, citing operational reasons tied to the deteriorating security situation in Kuwait. The airline said its teams were working to assist affected passengers with rebooking and travel arrangements, and advised customers to ensure their contact information on file remains current so they can receive updates by text message or email.

Other UAE-based carriers have reported similar disruptions on Gulf routes. Air Arabia flights between the UAE and Kuwait faced cancellations and delays over the weekend, although several flights that had initially been listed as canceled were later reinstated. Air Arabia’s Abu Dhabi-based service between the UAE capital and Kuwait, flights 3L020 and 3L021, were among those canceled. Separately, budget carrier flydubai canceled flights on its Dubai-to-Abha route connecting to Saudi Arabia, reflecting how the conflict’s effects have rippled beyond routes directly serving Iran or Israel.

Kuwait Airways said it had rescheduled the majority of its commercial flights after Kuwait International Airport temporarily suspended takeoffs and landings on Saturday amid repeated missile and drone threats, underscoring the more severe disruptions facing airports closer to the immediate conflict zone compared with Abu Dhabi’s relatively steadier operations.

Background on the escalating conflict

The current wave of disruptions stems from a broader collapse in relations between Washington and Tehran. The two countries renewed hostilities on July 7 after each side accused the other of violating an earlier ceasefire agreement, and fighting has intensified steadily since then across Iran and the wider Gulf region. The United States has carried out consecutive nights of airstrikes against Iranian targets in the weeks since, while Iran has responded by striking targets connected to U.S. allies in the region, including facilities in Kuwait.

That expanding pattern of strikes has created a volatile operating environment for airlines across the Gulf, with route-specific cancellations and diversions becoming increasingly common even at airports, like Zayed International, that have avoided full-scale shutdowns. Aviation officials in the region have repeatedly emphasized that the situation can shift within hours, urging travelers to verify their flight status directly with airlines rather than relying on schedules published days in advance.

What Abu Dhabi Airports has said

During earlier phases of the conflict, when UAE airspace faced more direct disruption, Abu Dhabi Airports issued formal advisories warning that some inbound and outbound flights at Zayed International could experience delays, diversions or cancellations tied to temporary airspace restrictions. The airport operator said passenger safety remained its top priority and that it was coordinating closely with airlines and relevant authorities to manage disruptions and minimize their impact wherever possible. Officials urged passengers scheduled to travel to check directly with their airline before heading to the airport, rather than assuming their flight would depart as originally scheduled.

That guidance remains broadly relevant for travelers today, even though Zayed International has not faced a repeat of the more severe disruptions seen at other regional airports in recent days. Airlines continue to manage most changes on a flight-by-flight basis rather than through blanket network suspensions, meaning individual routes, particularly those connecting to Kuwait, Saudi Arabia and other countries more directly affected by the conflict, remain the most likely to see cancellations or rescheduling.

What travelers should do

Given the fluid nature of the situation, travelers with flights booked to or from Abu Dhabi are strongly advised to check their specific flight status directly through their airline before heading to the airport. Etihad passengers can consult the airline’s Manage My Booking tool for alternative flight options when cancellations occur more than three days before departure, while changes within the final 48 hours are typically handled directly by airline support teams. Zayed International Airport’s official website also provides live departure and arrival boards that travelers can monitor for real-time updates.

For now, Abu Dhabi’s main airport continues to function as one of the more stable aviation hubs in a region facing widespread disruption, even as individual routes connected to more directly affected countries remain subject to sudden change. Travelers are encouraged to remain flexible with their plans and to stay in close contact with their airlines as the broader conflict between the United States and Iran continues to evolve with no clear resolution in sight.

Amin said he knows that families can feel the cost of living more during the school holidays, with no free school meals and activities to find, so he hopes his offer gives them a little more support.

Nicki Kansara, chair of Erdington Academy’s Parent, Teacher and Friends Association (PTFA) and a governor at the school, said: “In my roles at Erdington Academy, I’ve seen many of the different struggles the children face first-hand.

“The cost of living has been affecting so many people, not just pupil premium students.

“That’s why this link with Razwan is so powerful. There’s potential for Razwan to inspire the children as an Erdington alumnus – he shows them that they can go from the school and make it in the real world.”

Kansara’s son Esa, a student at Erdington, has already taken advantage of the offer and said lots of pupils will do the same.

“When I get my hair cut, I feel like a new man, and it makes me feel more confident in general,” he said.

He added: “Razwan went to Erdington Academy and now he’s a successful businessman, so he makes me realise I can be successful as well. It’s empowering.”

PC Jeweller shares jumped around 6% on Monday, nearly wiping off all losses recorded in the previous session after the company announced that its board of directors approved a plan to raise Rs 1,000 crore through Qualified Institutions Placement (QIP).

The shares rose to Rs 10.27 apiece on Monday morning, before paring some gains. The stock had crashed more than 6% on Friday after the company announced that its board considered and approved raising up to Rs 1,000 crore through the issuance of equity shares with a face value of Rs 1 each and other eligible securities, or any combination thereof, through QIP in one or more tranches.

Accordingly, the board approved an increase in the authorised share capital of PC Jeweller from the existing Rs 1,310 crore (divided into 1,050 crore shares and 26 crore preference shares) to Rs 1,460 crore (divided into 1,200 crore equity shares and 26 crore preference shares) by creating an additional 150 crore equity shares, subject to shareholder approval. It also approved the constitution of a QIP committee for this purpose.

Following the announcement on Thursday, HRTI Private net sold more than 1.32 crore shares through a bulk deal on Friday. The stock crashed 6% that day, before rebounding today.

Also read: PC Jeweller repays 2 consortium banks; eyes debt-free status by Q2 FY27

PC Jeweller share price

PC Jeweller shares have gained over 11% in one month and 7% in 2026 so far, but have fallen 41% in one year. In the longer term, the shares of the company have delivered stellar returns of 220% in three years and 276% in five years.

After hitting a 52-week high of Rs 18 per share in July last year, the stock more than halved in less than a year, hitting a 52-week low of Rs 7.47 apiece in March this year. The stock has so far recovered more than 37% since then.

PC Jeweller Q1 update

Earlier this month, PC Jeweller said it delivered a strong operational performance in Q1 FY27, with consolidated revenue growing approximately 21% year-on-year (YoY). The company added that it continues to make rapid progress towards its goal of becoming debt-free and expects to achieve that milestone during the current quarter.
In line with this objective, the company said it reduced its outstanding debt to banks under the terms of the Joint Settlement Agreement by approximately 24% during Q1 FY27. With this reduction, the company added that it has cut its outstanding debt by more than 90% since executing the settlement agreement with banks on September 30, 2024.The company reported a 58% increase in Q4 net profit to Rs 150 crore, up from Rs 95 crore in the year-ago period.

Also read: PC Jeweller shares rally after Q1 update; firm eyes debt-free status this quarter

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