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PPC Ltd 2026 Q4 – Results – Earnings Call Presentation (OTCMKTS:PPCLY) 2026-06-09
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5 takeaways from airline CEOs’ biggest annual gathering
Ground crews load cargo and supplies onto airplanes from airlines including Lufthansa Group, Emirates, Austrian Airlines, and British Airways, as they stand parked at the Tom Bradley International Terminal (TBIT) at Los Angeles International Airport (LAX) in El Segundo, California, on September 11, 2023.
Patrick T. Fallon | Afp | Getty Images
RIO DE JANEIRO — Hundreds of airline leaders gathered in Brazil this week at the International Air Transport Association’s annual assembly to discuss high fuel costs, sharply lower profits, engine reliability issues and elusive emission reduction goals, among other things.
Toward the end of the assembly in Rio de Janeiro, news broke that Iran and Israel traded strikes for the first time since a ceasefire went into effect in April. For airline executives who have faced ongoing turmoil since the first U.S. and Israeli strikes on Iran on Feb. 28, it seemed like just one more blip in the whipsawing chaos of 2026. Those airline leaders’ stance so far has been to wait and see.
Here are some takeaways from the gathering:
Withering profits
Fuel costs have more than doubled in some places since the beginning of the Iran war, as the Strait of Hormuz, a key shipping lane, has been effectively closed for much of the time.
IATA said airlines globally are absorbing a $100 billion increase in their fuel costs this year, which along with airspace closures due to Middle East attacks curtailing travel, will likely halve airline profits this year.
Willie Walsh, the outgoing director general of the organization, said net profits will fall from $45 billion in 2025 to $23 billion in 2026, and that net margins would drop from 4.2% last year to 2% this year.
While fares are up, airlines haven’t been able to cover the full fuel bill this year, so profits will take a hit.
Travel demand is resilient — but winter is coming
Airline executives told CNBC that customers continue to book.
Etihad Airways, based in Abu Dhabi, in the United Arab Emirates, initially felt the effect of the Middle East turmoil this year with lower demand. But Antonoaldo Neves, group chief executive officer of Etihad Aviation Group, said in an interview that the number of tickets are about the same as pre-conflict, seasonally adjusted.
United Airlines CEO Scott Kirby, who runs the second-most profitable airline in the U.S., said customers continue to book, even though fares are up about 20% and could rise further if fuel costs continue to increase.
He said the resilient bookings surprised even him. “I think the economy is stronger than people think,” he told CNBC in an interview. The U.S. is also more insulated from oil supply shocks than other regions because it produces so much.
Summer bookings are strong, and airlines are also getting better at managing capacity with high fuel prices, cutting more unprofitable routes and reducing frequencies. The big question remains what happens after the main summer and fall peaks.
“That bodes well for a strong northern summer peak season,” Walsh said of current trends. “The big unknown is how long travelers and shippers can tolerate the higher costs of connectivity.”
The other question is where fuel prices go from here.
“If prices will remain the same, yeah, for sure, less people be able to afford to travel,” said Kamil Al-Awadhi, former Kuwait Airways CEO and IATA’s vice president for Africa and the Middle East.
Airplane FOMO keeps orders coming
Airplane manufacturers said they’re not seeing a slowdown in orders because of higher fuel prices.
Airbus and Boeing continue to be sold out of some of their most popular jets through the beginning of the next decade. Airlines generally plan for fleet growth years in advance, and the bulk of an aircraft’s price is paid when a carrier receives it.
Etihad’s Neves told CNBC that he wants to buy even more jets to top off his existing orderbook of dozens of planes, though he didn’t give a number, only saying it’s “more than 10.”
A spokesman for Brazilian airplane maker Embraer said that one risk is that customers don’t exercise options to increase their existing orders, but so far the company isn’t seeing that.
Boeing is set to report orders and deliveries for May on Tuesday morning.
High fuel prices could kill off other airlines
Iconic U.S. budget airline Spirit Airlines in May succumbed to years of problems. It had been dealing with an engine recall, a failed merger and changing consumer tastes all while managing a mountain of debt. But the jump in fuel prices was the last straw for the discounter, it told U.S. bankruptcy court this spring.
IATA’s Walsh said at the conference that high fuel costs could push other airlines to collapse as well.
That means that more profitable, cash-rich carriers, which have done better at capitalizing on the K-shaped economy and a shift in demand toward high-fare luxury travel, are on better footing than some that are more price sensitive.
‘Engineering marvels’ at what cost?
Airline CEOs are frustrated with engine makers who promised increased fuel efficiency in new-generation engines. The fuel savings are there, but they’re getting gobbled up by disappointing reliability that forces airlines to have the engines serviced earlier than they thought, executives said.
On top of that, there aren’t enough of them produced to satisfy carriers, as Boeing and Airbus ramp up output.
Alexis von Hoensbroech, CEO of Canada’s WestJet, told CNBC in an interview before the IATA meeting that the new engines promising fuel savings of around 15% or more compared with earlier models were “engineering marvels.”
“However, as you push the limits, it sometimes comes at the cost of reliability, and what we all are seeing is that those engines have to go into unscheduled maintenance far more frequently than prior engine generations,” he said.
Companies like GE Aerospace and Rolls-Royce, which have enjoyed a windfall from increased demand, said they have been busy with fixes and added overhaul capacity.
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I hold a Master’s degree in Cell Biology and began my career working for several years as a lab technician in a drug discovery clinic, where I gained extensive hands-on experience in cell culture, assay development, and therapeutic research. That scientific foundation gave me an appreciation for the rigor and challenges behind drug development, which I now bring into my work as an investor and analyst. For the past five years, I have been active in the investing space, with the last four years dedicated to working as a biotech equity analyst alongside my lab work. My focus is on identifying promising biotechnology companies that are innovating in unique and differentiated ways, whether through novel mechanisms of action, first-in-class therapies, or platform technologies with the potential to reshape treatment paradigms. By combining my lab-based scientific expertise with financial and market analysis, I aim to deliver research that is both technically sound and investment-driven. On Seeking Alpha, I plan to write primarily about the biotech sector, covering companies at different stages of development, from early clinical pipelines to commercial-stage biotechs. My approach emphasizes evaluating the science behind drug candidates, the competitive landscape, clinical trial design, and the potential market opportunity, all while balancing financial fundamentals and valuation. My goal in publishing here is to share some insights that help investors better understand both the opportunities and of course the many risks in biotech. This is a sector where breakthrough science can translate into outsized returns, but also where careful scrutiny is essential. I look forward to contributing thoughtful analysis and engaging with readers who share an interest in this dynamic and rapidly evolving space.
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Business
Favorites Contenders and Group Analysis Ahead of Kickoff
With the 2026 FIFA World Cup set to begin on June 11 across North America, the expanded 48-team tournament offers a fresh landscape for soccer’s biggest stage. From powerhouse favorites like France, Spain and Argentina to emerging contenders and debutants, the field presents a mix of established giants, regional powerhouses and ambitious underdogs. Analysts have released detailed power rankings based on current FIFA standings, recent form, squad depth, coaching and group difficulty.
The tournament format features 12 groups of four, with the top two from each advancing automatically along with the eight best third-place teams to a 32-team knockout stage. This structure increases opportunities for surprises while maintaining high stakes. Host nations Mexico, Canada and the United States benefit from home support and favorable seeding.
Top Contenders (Ranked 1-6)
France enters as one of the strongest sides, boasting exceptional depth across the pitch despite occasional tactical questions. Kylian Mbappé remains the focal point, supported by a talented core capable of dominating matches. Recent performances have reinforced their status as prime contenders.
Spain, fresh off strong showings, relies on technical mastery and youthful energy led by players like Pedri and Lamine Yamal. Their possession-oriented style and squad balance make them a nightmare for opponents, positioning them among the top favorites.
Argentina, the defending champions, feature Lionel Messi in what could be his final World Cup. Despite the challenge of repeating as winners — a feat not achieved since Brazil in the 1960s — the Albiceleste maintain elite status with a balanced squad and championship pedigree.
England brings talent and ambition, with Jude Bellingham and Harry Kane anchoring a side that has consistently reached later stages but seeks its first title since 1966. Questions linger around finishing and consistency, yet their potential remains high.
Brazil and Portugal round out the elite tier. Brazil’s attacking flair and Portugal’s experience, including Cristiano Ronaldo’s leadership, ensure they remain dangerous throughout. Both nations possess the quality to reach the semifinals or beyond.
Mid-Tier Powerhouses and Dark Horses (Ranked 7-20)
Germany, the Netherlands, Belgium and Croatia bring European pedigree and tactical sophistication. Germany aims to rebound from recent inconsistencies, while the Dutch emphasize fluid attacking play. Belgium’s golden generation edges toward conclusion, adding urgency, and Croatia continues to punch above its weight.
Morocco, fresh off a strong 2022 showing, represents Africa’s best hopes alongside Senegal, Egypt and others. Asian representatives Japan, South Korea and Iran offer discipline and counter-attacking threats. South American sides like Uruguay, Colombia and Ecuador provide physicality and technical skill.
Group-by-Group Breakdown
Group A: Mexico, South Africa, South Korea, Czechia Mexico, as hosts, are clear favorites to top the group. Their experience and home advantage should see them advance comfortably. South Korea and Czechia vie for second, with South Africa as the likely underdog. Mexico’s path looks favorable for a deep run.
Group B: Canada, Bosnia and Herzegovina, Qatar, Switzerland Canada benefits from hosting but faces a competitive pool. Switzerland’s consistency makes them a strong contender for top spots. Bosnia and Qatar add unpredictability. Expect tight battles for advancement.
Group C: Brazil, Morocco, Haiti, Scotland Brazil should dominate, but Morocco’s organization poses a challenge. Scotland and Haiti will fight for points. Brazil is expected to top the group easily, with Morocco likely advancing.
Group D: United States, Paraguay, Australia, Türkiye The U.S. hosts look to capitalize on home support. Türkiye and Australia bring experience, while Paraguay adds South American grit. The group is competitive, with the U.S. favored to progress alongside one or two others.
Group E: Germany, Curaçao, Ivory Coast, Ecuador Germany is the standout, expected to cruise through. Ivory Coast and Ecuador offer quality, making second place contested. Curaçao faces an uphill battle.
Group F: Netherlands, Japan, Sweden, Tunisia The Netherlands lead a balanced group. Japan’s discipline and Sweden’s organization create intrigue. Tunisia will seek upsets. Multiple teams have realistic knockout hopes.
Group G: Belgium, Egypt, Iran, New Zealand Belgium should advance as group winners. Egypt and Iran compete for the second spot, with New Zealand as the outsider. Expect European experience to prevail.
Group H: Spain, Cape Verde, Saudi Arabia, Uruguay Spain is heavily favored. Uruguay’s pedigree makes them a strong second-place candidate. Cape Verde and Saudi Arabia will aim for surprises.
Group I: France, Senegal, Iraq, Norway France dominates expectations. Senegal provides African strength, with Norway and Iraq adding depth. France is a top contender for the title from this pool.
Group J: Argentina, Algeria, Austria, Jordan Argentina leads comfortably. Algeria and Austria compete fiercely for advancement, with Jordan as the underdog. Messi’s side remains a championship favorite.
Group K: Portugal, DR Congo, Uzbekistan, Colombia Portugal’s star power stands out. Colombia brings South American flair, while DR Congo and Uzbekistan seek breakthroughs. Portugal is expected to top the group.
Group L: England, Croatia, Ghana, Panama England and Croatia are the primary contenders. Ghana and Panama offer athleticism and resilience. This group could produce strong knockout representatives.
Overall Outlook and Key Storylines
The expanded format gives more nations a platform, increasing the potential for Cinderella stories while keeping traditional powers in contention. Host nations carry national pride and logistical advantages, though travel across venues remains a factor.
Injuries, form and coaching decisions in the final preparations will shape outcomes. Veterans like Messi and Ronaldo may write final chapters, while young talents emerge on the global stage. Tactical innovations, set-piece execution and physical conditioning will prove decisive in the knockout rounds.
Economic and cultural impacts across North America are projected to be massive, with billions in revenue and lasting infrastructure benefits. Fan festivals and broad broadcasting ensure widespread engagement.
Analysts largely agree that a European or South American side is most likely to lift the trophy, with France, Spain and Argentina leading betting markets. However, the 48-team field introduces greater variance and excitement.
As teams finalize rosters and tactics, anticipation builds for what promises to be a historic tournament. From Mexico City’s opening match to the MetLife Stadium final on July 19, the 2026 World Cup celebrates soccer’s global reach and competitive depth.
Emerging nations will test themselves against the elite, potentially rewriting narratives. For established powers, the challenge is navigating a longer path to glory. The blend of experience, youth and home advantage sets the stage for unforgettable moments.
Detailed power rankings from sources like ESPN, FOX Sports and GOAL highlight the nuanced assessments. While favorites hold the edge, football’s unpredictability ensures no outcome is guaranteed. The tournament’s scale amplifies both opportunities and pressures.
Fans and neutrals alike can look forward to a summer filled with passion, skill and drama. With just days until the first whistle, the soccer world unites in excitement for the expanded spectacle that is World Cup 2026.
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Selena Gomez Shares Sweet Long-Distance Moments with Husband Benny Blanco While Filming in London
LOS ANGELES — Selena Gomez and Benny Blanco are navigating a period of separation as the actress films the latest season of her hit Hulu series “Only Murders in the Building” in London, but the newlyweds continue to express affection publicly through social media posts highlighting their bond and her prominent engagement ring.
Gomez recently posted photos from a Rare Beauty photoshoot, showcasing elegant looks that prompted an immediate response from her husband. Blanco shared the images on his Instagram Stories, overlaying the caption “i married a real life princess.” The tribute underscored the couple’s playful and loving dynamic since their marriage last year.
The night before, Gomez had shared her own glimpse into their connection, posting a photo of her hand resting on Blanco’s knee with the caption “missing this so much” accompanied by a wide-eyed emoji. The image prominently featured her marquise-cut diamond engagement ring, a symbol of their commitment that has drawn significant attention since its debut.
The couple’s public displays come as Gomez focuses on production duties in the United Kingdom for the popular mystery-comedy series, which has garnered critical acclaim and strong viewership. Blanco, a successful music producer, remains based primarily in Los Angeles, where his professional commitments keep him grounded.
Blanco has been open about his severe discomfort with air travel, which limits his ability to join Gomez during international filming. In an interview with ELLE, he described his aversion while on a road trip. “Oh my God, I hate it. Terrifying. I’m in Dallas right now. I’m driving to New York from Los Angeles.”
He has previously detailed his alternative travel methods. “I take the boat to Europe. Oh my God, it’s so long. It’s like first you have to drive to New York and then you get on a boat for eight days, and you’re on the Titanic,” Blanco explained during an appearance on the “On Purpose with Jay Shetty” podcast.
Despite the physical distance, the pair maintains a strong connection through frequent communication and mutual support. Gomez, who has built a multifaceted career spanning music, acting, producing and entrepreneurship with Rare Beauty, has spoken warmly about their relationship in past interviews, emphasizing compatibility and shared values.
Blanco’s tribute as a “real life princess” resonates with fans who have followed Gomez’s journey from Disney Channel star to global icon. The couple’s romance, which became public in late 2023, quickly evolved into a committed partnership marked by collaboration on music projects and public appearances. Their wedding in September 2025 was a private affair that drew widespread well-wishes from the entertainment industry.
Gomez’s time in London also aligns with her ongoing professional momentum. “Only Murders in the Building,” co-starring Steve Martin and Martin Short, continues to be a flagship title for Hulu, blending humor, mystery and celebrity guest stars. Her role as Mabel Mora has earned praise for its depth and charm, contributing to the show’s enduring popularity.
Fans have noted the couple’s ability to balance high-profile careers with personal life. Blanco’s work as a producer has included collaborations with major artists, while Gomez’s Rare Beauty brand continues to expand. Their separation highlights the challenges many celebrity couples face with demanding schedules across continents.
Social media reactions to their recent posts have been overwhelmingly positive, with followers praising the authenticity and romance. Gomez’s post as “Mrs. Blanco” earlier reflected her embrace of married life, while Blanco’s responses consistently show admiration and support.
The couple first sparked dating rumors in December 2023, with their relationship confirmed shortly thereafter. What began as a friendship blossomed into romance, with insiders noting their easy chemistry and shared sense of humor. Blanco has credited Gomez with bringing positivity and stability to his life.
Gomez, who has been candid about her health challenges including a kidney transplant and bipolar disorder diagnosis, has found a supportive partner in Blanco. Their relationship has been portrayed as grounded and mutually encouraging, contrasting with the intense scrutiny often faced by high-profile pairings.
As filming continues in London, Gomez is expected to remain focused on her role while staying connected with Blanco through calls, messages and occasional visits when feasible. His preference for ground and sea travel means any transatlantic trips require significant planning, but sources close to the couple indicate they prioritize quality time when schedules align.
Industry observers view their handling of long-distance periods as a testament to maturity. Both have successful careers that demand flexibility, yet they appear committed to nurturing their marriage. Blanco’s road trips and boat journeys have become lighthearted topics in interviews, humanizing the music mogul.
Gomez’s Rare Beauty line, known for its inclusive makeup and skincare, continues to thrive, with new launches keeping her engaged in business alongside acting. The brand’s success has allowed her greater creative control and philanthropy opportunities, aligning with her personal values.
For fans, the couple’s social media exchanges offer glimpses into a relatable celebrity romance. The visible engagement ring in recent posts serves as a constant reminder of their union, sparking discussions about wedding details and future plans. While private about many aspects, their public affection resonates widely.
As summer progresses, Gomez will likely divide time between London commitments and opportunities in the U.S., while Blanco balances studio work and personal projects. Their story reflects broader themes in modern relationships — balancing ambition, distance and devotion.
The entertainment world watches with interest as the pair continues building their life together. From red carpet appearances to quiet moments shared online, Selena Gomez and Benny Blanco exemplify a partnership rooted in respect, humor and resilience amid the demands of fame.
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