warns

Western governments are pouring tens of billions of dollars into critical minerals projects as they attempt to reduce dependence on China for materials essential to clean energy, defence technology and advanced manufacturing.

But industry executives, analysts and investors are increasingly warning that poorly coordinated state-backed investment could create severe oversupply problems similar to past commodity booms that ended in market crashes.

The concerns come as countries including the United States, Australia, European Union and Japan accelerate efforts to build strategic reserves and expand production of rare earths and other critical minerals.

Governments Ramp Up Critical Minerals Spending

The United States has committed more than $20 billion toward critical minerals development through multiple financing programmes, including Project Vault, a strategic stockpiling initiative worth around $10 billion.

Australia has also allocated at least A$13 billion to support critical minerals projects and reserves through several government-backed programmes.

These investments are designed to secure supplies of metals used in electric vehicles, semiconductors, renewable energy systems, aerospace equipment and military technologies.

Particular attention has focused on rare earth elements, a group of 17 metals essential for producing powerful magnets used in advanced defence systems and high-tech manufacturing.

Although the global rare earths market was valued at only about $6.4 billion in 2024, combined Western financial commitments to rare earth projects have already exceeded that figure.

Fears Grow Over Potential Oversupply

Mining executives and analysts warn that aggressive subsidies and overlapping national strategies could eventually flood global markets with excess supply.

Brett Beatty of Resource Capital Funds said the biggest danger lies in governments pursuing independent strategies without coordination.

According to Beatty, simultaneous efforts to rapidly increase production could create volumes far beyond global demand, ultimately crushing prices and undermining the very industries governments are trying to build.

Analysts drew comparisons to historical commodity gluts, including Europe’s “butter mountains” of the 1980s, Russian aluminium oversupply and Australia’s wool crisis, where subsidies and state support distorted markets and triggered sharp price collapses.

Rare Earth Market Could Face Surplus Pressures

Consultancy Project Blue warned that several rare earth markets are already on track to move into surplus over the coming years due to expanding state-backed production.

However, analyst David Merriman said governments may still be able to avoid major imbalances if they carefully adjust subsidies, stockpiling programmes and guaranteed purchasing arrangements.

Industry leaders say current stockpiles remain relatively small, limiting immediate risks of market disruption.

Lynas Rare Earths CEO Amanda Lacaze recently said rare earth stockpiles around the world remain modest and are not yet large enough to destabilise markets.

Australian Resources Minister Madeleine King also argued that today’s critical minerals policies differ significantly from past commodity intervention failures because they are more targeted and linked to long-term industrial supply chains.

Global Coordination Emerging Among Western Allies

Concerns about duplication and oversupply are pushing Western governments toward greater policy coordination.

The Group of Seven is reportedly discussing the creation of a permanent secretariat focused on coordinating critical mineral strategies and ensuring continuity between rotating national presidencies.

Industry experts say such coordination could help prevent destructive competition between allied nations while supporting more stable investment planning.

Lessons From Congo and Indonesia

Governments outside the West have already experimented with aggressive intervention in mineral markets.

The Democratic Republic of the Congo boosted cobalt prices by introducing export quotas and stockpiling measures designed to increase mining revenues.

While the policy initially lifted prices, analysts warn prolonged restrictions could encourage manufacturers to seek alternative materials or suppliers.

Similarly, Indonesia dramatically expanded its dominance in nickel production after banning exports of raw nickel ore in 2020 to force domestic processing investment.

Indonesia’s production surged within just a few years, but authorities have since struggled with falling prices and oversupply, forcing Jakarta to tighten mining quotas and centralise export controls.

These examples highlight the difficulty governments face in balancing national industrial ambitions with long-term market stability.

Analysis

The global race for critical minerals is increasingly becoming a strategic contest shaped as much by geopolitics as by economics.

Western governments view supply chain independence as essential after years of relying heavily on China for processing capacity and rare earth production. The push is not simply about commercial competition — it is tied directly to national security, technological leadership and energy transition goals.

However, the very scale of state intervention now unfolding raises the risk of creating distorted markets. If multiple governments simultaneously subsidise production, guarantee prices and build stockpiles without coordination, supply could rapidly outpace actual industrial demand.

That scenario would likely trigger sharp price declines, weaken private investment and potentially create another boom-and-bust cycle in the mining sector.

At the same time, the market dynamics of critical minerals differ from traditional commodities. Many of these materials are essential for emerging technologies, and demand is expected to rise significantly over the next two decades as countries expand renewable energy infrastructure, battery production and semiconductor manufacturing.

This means governments are not only competing to secure supply today but also positioning themselves for future industrial dominance.

Another key challenge is that refining and processing capabilities remain heavily concentrated in China. Even if Western countries succeed in expanding mining output, they may still depend on Chinese infrastructure unless domestic processing networks are developed alongside extraction projects.

The growing emphasis on “friend-shoring” and allied supply chains reflects an attempt to address this vulnerability.

Industry experts also point to a more sustainable model emerging through byproduct extraction. Instead of building entirely new mines based purely on high prices, companies are increasingly looking to recover critical minerals from existing industrial operations, reducing the risk of uncontrolled supply growth.

Projects involving Alcoa, Sojitz and Trafigura illustrate how governments and corporations are experimenting with lower-risk approaches to expanding supply.

Ultimately, the success of Western critical minerals strategies may depend less on how much money governments spend and more on whether they can coordinate policies, manage supply carefully and build integrated processing ecosystems capable of competing with China over the long term.

With information from Reuters.

May 25 (UPI) — Russia on Monday warned the United States it will continue targeting “decision-making centers” in Kyiv and advised Washington to evacuate its personnel from Ukrainian capital as it ratcheted up pressure in the conflict.

Russian Foreign Minister Sergey Lavrov told U.S. Secretary of State Marco Rubio in a phone conversation the Russian Armed Forces are now launching “systematic and consistent strikes against facilities in Kyiv used by the Ukrainian Armed Forces and against the relevant decision-making centers,” according to a readout supplied by the Kremlin.

The Russian assault is in response to “the Kyiv regime’s ongoing terrorist attacks against civilians and civilian objects on Russian territory,” the statement said.

Lavrov also warned Rubio that the United States, “along with other states with missions in Kyiv, ensure the evacuation of their diplomatic personnel and other citizens from the Ukrainian capital.”

Earlier Monday, Moscow decried what it called “a bloody drone attack” on a college dormitory on Friday in Luhansk, a part of Ukraine occupied by Russian forces and claimed as a “people’s republic.”

Twenty-one people, including children, were killed and 42 others injured in strike, Russian President Vladimir Putin claimed while calling it a deliberate “terrorist strike.”

Ukraine, however, described it as an attack on the headquarters of Russia’s Rubicon drone military unit in Starobilsk, Luhansk.

That incident was followed by Russia’s largest-ever drone and missile attack on Kyiv overnight from Saturday into Sunday, in which two were killed more than 80 injured.

Strikes were recorded in almost every district of the city, hitting cultural targets such as The National Art Museum, the Chornobyl Museum, the National Philharmonic, the Ukrainian National Academy of Music and the Kyiv Opera Theater, the Kyiv Independent reported.

Julie Davis, the chargé d’affaires at the U.S. embassy in Kyiv, condemned the overnight strikes on Monday, calling them “deliberate strikes on civilian populations and civilian infrastructure” which she deemed “unacceptable.

“As President Trump has stated before, this war must end. We extend our deepest condolences to all those affected by this horrific tragedy.”

Such strikes in the capital are set to continue, Russia warned Monday, although insisting they are aimed at military rather than civilian targets.

“All this has exhausted our patience In this situation,” the Foreign Ministry said. “The Armed Forces of the Russian Federation are beginning to launch consistent and systemic strikes at enterprises of the Ukrainian defense industry in Kiev, including specific facilities for designing, manufacturing and programming drones and preparing them for operation.”

The strikes “will target decision-making centers and command posts,” Moscow claimed.

May 24 (UPI) — President Donald Trump on Sunday urged his negotiators “not to rush into a deal” with Iran because “time is on our side.”

He made the comments in a post on Truth Social that also took aim at the Joint Comprehensive Plan of Action, the so-called Iran nuclear deal created in 2015 and which Trump withdrew from in 2018. In his post, Trump called it “one of the worst deals ever made by our country” and blamed former President Barack Obama and his administration.

“It was a direct path to Iran developing a Nuclear Weapon,” Trump wrote. “Not so with the transaction currently being negotiated with Iran by the Trump Administration – THE EXACT OPPOSITE, in fact!”

Trump said Saturday the deal with Iran had been “largely negotiated” and that final aspects were being worked out. On Sunday, he added that talks were “proceeding in an orderly and constructive manner.

“I have informed by representatives not to rush into a deal in that time is on our side,” he wrote.

“Both sides must take their time and get it right. There can be no mistakes!”

Secretary of State Marco Rubio also said Sunday that “significant progress” had been made and hinted that Trump may make an announcement on the issue “a little bit later today,” The New York Times reported.

“Suffice it to say some progress has been made, significant progress, although not final progress,” he said during a news conference in New Delhi.

May 22 (Asia Today) — The head of the U.S.-based Committee to Protect Journalists warned Friday that pressure on press freedom is not limited to imprisonment, killings or direct censorship, saying lawsuits, access restrictions and online attacks can also intimidate reporters and encourage self-censorship.

Jacob Weisberg, chairman of the Committee to Protect Journalists, made the remarks during a news conference at the Foreign Correspondents’ Club of Japan in Tokyo when asked about indirect pressure on journalists in democracies such as South Korea and Japan.

“The issue of reporters being prevented from doing their jobs or being punished in unofficial ways, and the issue of threats and self-censorship, are much more difficult matters,” Weisberg said.

Asia Today asked how the organization evaluates cases in which press freedom is restricted not through direct censorship but through exclusion, intimidation or loss of access, citing press corps-centered reporting restrictions, limits on access to government briefings, defamation lawsuits and online harassment.

Weisberg said the CPJ is still considering how to respond to such issues.

“That does not mean CPJ is not concerned about such issues, but to be fair, we are still thinking about how to deal with questions like that,” he said.

He said the group’s top priority remains helping journalists who face physical danger.

“CPJ’s first obligation is to help journalists who are in physical danger,” he said. “We first deal with cases involving journalists who are imprisoned, abused, tortured or killed.”

But he stressed that this does not mean the organization is unconcerned about more subtle and complicated issues surrounding press freedom.

Weisberg also addressed Japan’s press club system. While saying he did not know enough about Japan, he said he had often heard about the country’s press clubs and the inherent limits of that system.

He said reporters outside press clubs may not have the same access to information and that the system can function as an exclusive channel through which information is delivered.

Weisberg did not equate the issue with censorship seen in authoritarian countries.

“It is not censorship, but it is a lower-level problem than that,” he said.

He also cited the United States, saying there have been no confirmed recent cases of journalists being jailed or killed there, but that the environment for reporters has worsened and become more dangerous in several ways.

He mentioned “media capture,” in which government approval or corporate merger issues can be used as leverage over broadcasters and media companies, as well as concerns over lawsuits and self-censorship.

Referring to the Trump administration, Weisberg also raised concerns about restrictions on White House access for certain media outlets and limits on access to Pentagon briefings.

Restricting government access to the press because of political views is “illegal and unconstitutional,” he said.

On Asia, Weisberg expressed more direct concern. He said that as of May 13, CPJ counted 103 journalists imprisoned across Asia. China had the largest number, with 51, followed by Myanmar with 18 and Vietnam with 16.

Weisberg also said that while Japan has no recorded cases of journalists being imprisoned or killed, worsening press freedom across Asia affects the safety, movement and reporting ability of Japanese journalists working abroad.

He cited the case of NHK Tehran bureau chief Shinnosuke Kawashima, who was arrested in Iran and later released but has not yet been able to return to Japan.

Weisberg said Japan could play a more active diplomatic role in defending press freedom in Asia.

His remarks suggested that press freedom debates in South Korea and Japan should move beyond the question of whether censorship exists and ask who monopolizes information, who loses the right to ask questions and who is pressured into silence.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260522010006683

The first-ever winner of Britain’s Got Talent has spoken out about the ITV show’s format and says it needs to change to survive.

Britain’s Got Talent winner Paul Potts has spoken out about the iconic talent show and its current format.

The 55-year-old, who claimed the inaugural title on the ITV programme back in 2007, has voiced his concerns about international acts who have already reached the semi-final stages on other Got Talent franchises subsequently competing in the British version.

While making clear he has “no problem” with overseas performers appearing on the show, Paul insisted the programme must “adapt” to remain relevant.

Speaking exclusively to Sky Vegas, he said: “I’ve got no problem with international acts because British people have won America’s Got Talent before. Paul Zerdin won America’s Got Talent, so it works both ways. Some of the international acts this year have been fantastic and they bring real quality to the competition.”

He continued: “But I don’t think people who’ve already made a Got Talent final anywhere in the world should then be allowed to compete in another regular Got Talent series. Otherwise, it just becomes the same people endlessly auditioning across the franchise.”

“For me, if somebody has already reached a live semi-final, they should maybe get one more shot and that’s it. It’s not just meant for amateurs and complete novices. Professionals can absolutely compete, but it can’t just become a revolving door of career talent show contestants.”

Paul also suggested that the programme needs to venture across the UK in search of potential performers. He went on: “The format of Britain’s Got Talent needs to adapt.

“I think they need to start going around the country again like they used to instead of concentrating everything into one or two locations. Go out to seven or eight cities and really search for more homegrown talent. That would encourage more people from around the UK to audition.

“They also need to focus purely on quality once it gets to the semi-finals and finals. Bring novelty acts back to perform in the live shows for entertainment, but don’t have them there as actual semi-finalists because it feels a little disrespectful to the contestants who genuinely have a realistic chance of winning.”

Paul further noted that he believes the Golden Buzzer is ineffective in the semi-finals and that Piers Morgan ought to make a comeback to the programme, reports the Daily Star.

He continued: “I think it’s good to have diversity on the panel. KSI brings energy, and I don’t think there’s really anything wrong with the judging panel itself. The issue for me is more about the structure – you either need one more judge or one fewer judge, so you don’t keep ending up in deadlock situations.

“If they were going to add another judge, I’d say bring Piers Morgan back. I’m sure he’d shake things up a bit. I’m not sure he’d do it again, but it would certainly make things interesting.”

Britain’s Got Talent continues Saturday, 23rd May at 7pm on ITV1.

Warning comes after Trump threatened military action against Iran and gave it ‘two to three days’ to strike a deal.

May 18 (UPI) — President Donald Trump has renewed his threats of mass violence against Iran, warning Tehran that “the Clock is Ticking” as the stalemate in talks to end the war shows no signs of ending.

In a statement on his Truth Social platform on Sunday night, Trump wrote: “For Iran, the Clock is Ticking, and they better get moving, FAST, or there won’t be anything left of them.”

“TIME IS OF THE ESSENCE!”

The two-sentence statement echoed the scale of violence he threatened April 7, shortly before the cease-fire was announced, when he warned Iran to make an agreement to end the war or “A whole civilization will die tonight, never to be brought back again.”

Trump has been seeking an agreement with Iran to end the war since the conflict was halted April 8 with a cease-fire to permit negotiations.

Those negotiations have progressed little if at all since talks broke down in Islamabad in mid-April.

An Iranian proposal recently sent to the United States was rejected by Trump, who told reporters aboard Air Force One on Friday en route to Washington from China that he looked at it and found the first sentence unacceptable.

“Well, I looked at it, and if I don’t like the first sentence, I just throw it away,” Trump said.

Asked what the first sentence was, Trump replied, “An unacceptable sentence.”

Trump said he is seeking a lengthy suspension of Iran’s nuclear program, stating that two decades may comply with his demands but “it’s got to be a real 20 years.”

According to Iranian state media Press TV, Iran’s proposal calls for a comprehensive end to the war, full compensation from the United States for damages, the removal of sanctions, the release of frozen Iranian assets and recognition of Iran’s sovereignty over the Strait of Hormuz.

Iran’s semi-official Fars news agency reported the United States responded with five demands: no compensation, no unfreezing of assets, the handover of 881.8 pounds of uranium to the United States, only one nuclear facility remaining active and making a halt to the war on all fronts conditional on negotiations.

In response to Trump’s threat on Sunday, Brig. Gen. Abolfazl Shekarchi, senior spokesman for Iran’s Armed Forces, called Trump “delusional,” the Islamic Republic News Agency reported.

“Repeating any foolishness to compensate for America’s disgrace in the third imposed war against Iran will bring no consequence other than receiving more crushing and severe blows for that country,” Shekarchi said.

He warned Trump if the United States resumed its attacks, “the assets and decayed army of that country will face new, offensive, surprising and stormy scenarios.”

Iran to reveal its plan for Strait of Hormuz soon as Israel attacks Lebanon and Gaza, killing and wounding dozens.

Popular budget airline is to cancel routes in 2026 after a row with officials

Ryanair has given bad news for passengers going to 12 destinations. The airline regularly keeps customers with bookings in the loop regarding travel updates and on its website has explained that the routes are being chopped.

It said that 12 routes are being cut – with the result that 700,000 seats are effectively being lost to air gtravel. The issue has arisen around its Thessaloniki base – meaning it’s closing for the three aircraft based there. It said: “This devastating loss in off-peak winter connectivity is the direct result of the hopelessly uncompetitive costs charged at the German-run Fraport Greece monopoly and Athens Airport.

“The Greek Govt. made the wise decision to reduce the Airport Development Fee (ADF) by 75% (from €12 to €3 per passenger) from November’24, which should have directly stimulated year-round connectivity and tourism across Greece. However, most Greek airports, particularly those run by Fraport Greece, refused to pass the tax cut onto passengers and instead have pocketed the tax cut for themselves. Since then, Fraport Greece have continued to increase charges, which are now +66% above their pre-Covid levels. Likewise, Athens Airport will hike charges this Winter.

“Consequently, Greek airports are no longer competitive in the off-peak shoulder and Winter months, when the tourism industry’s reliance on low-fare connectivity is most acute. Ryanair has therefore been left with no choice but to reallocate capacity to more competitive countries like Albania, regional Italy, and Sweden where airports have passed on the savings from Govt. tax reductions. “

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Ryanair said it presented an ambitious growth plan to the Greek government in what it said would grow traffic to 12m passengers per annum, base 10 additional aircraft and launch 50 new routes over the next 5 years. It said it would carry out the plan if airport charges were frozen and the 75% Airport Development Fee reduction is passed on to passengers at all airports.

Ryanair Chief Commercial Officer, Jason McGuinness said: “Ryanair regrets to announce the closure of our Thessaloniki base and reductions in Athens for Winter ‘26, resulting in the loss of 700,000 seats and 12 routes across Greece, as well as the suspension of operations at Chania and Heraklion during the off-peak months. These preventable traffic reductions are a direct result of the airports’ failure to pass through the ADF reduction, particularly in Thessaloniki where the Fraport Greece monopoly have hiked airport charges +66% since 2019.

“The removal of 3 based aircraft, 500,000 seats (-60% vs. Winter ‘25) and 10 routes from Thessaloniki for Winter ‘26 will be devastating for the city and region, as Ryanair provided 90% of international capacity to Thessaloniki last Winter. Unfortunately, there will now be less low-cost air fares for Thessaloniki’s citizens and visitors, and year-round tourism will be harmed as a result. These aircraft will be reallocated to Albania, regional Italy and Sweden, where airports have passed on their Govt’s aviation tax savings – resulting in more connectivity, tourism and jobs this Winter in those regions.

“There is an opportunity for Greece to secure significant year-round traffic growth however, this investment can only be realised once the German-run Fraport Greece monopoly fully passes through the Greek Govt.’s sensible tax cut from November’24 – allowing airlines such as Ryanair, to deliver the connectivity required to reduce Greece’s chronic seasonality.”

The cancelled routes:

• Thessaloniki to Berlin
• Thessaloniki to Chania
• Thessaloniki to Frankfurt-H
• Thessaloniki to Gothenburg
• Thessaloniki to Heraklion
• Thessaloniki to Niederrhein
• Thessaloniki to Poznan
• Thessaloniki to Stockholm
• Thessaloniki to Venice-T
• Thessaloniki to Zagreb
• Athens to Milan-M
• Chania to Paphos

Ryanair has also pulled its aircraft from Chania and Heraklion.

Fraport, which runs 14 airports in Greece said Ryanair’s decision is “exclusively related” to the airline’s commercial strategy and profitability considerations. “Any claims linking this decision to airport charges or the airport development fee imposed by the Greek state are entirely unfounded,” it adds. Fraport Greece has invested over €100 million (£86 million) to upgrade Thessaloniki, the statement added.

Meanwhile, Ryanair has announced the closure of its Berlin operating base and a 50% reduction in its winter schedule to the German capital, citing escalating aviation taxes in the country. The Irish budget airline confirmed that relocating seven aircraft to alternative hubs would see its Berlin passenger numbers drop from 4.5 million to 2.2 million annually.

China renewed its strong opposition to U.S. arms sales to Taiwan ahead of the high profile summit between U.S. President Donald Trump and Chinese President Xi Jinping in Beijing.

Taiwan is expected to be one of the most sensitive issues discussed during the two day meeting, alongside trade disputes, regional security, and the ongoing Iran conflict.

Beijing considers Taiwan part of its territory, while the United States maintains unofficial relations with Taipei and remains legally committed to helping the island defend itself.

China Repeats Opposition to Arms Sales

China’s Taiwan Affairs Office warned Washington against expanding military cooperation with Taiwan and criticized U.S. weapons sales to the island.

Spokesperson Zhang Han described Taiwan as a core Chinese national interest and called on the United States to honor previous commitments under the One China framework.

Beijing argues that Taiwan is an internal Chinese matter and strongly opposes any foreign military involvement with the island.

Record US Weapons Package Raises Tensions

The Trump administration approved an $11 billion weapons package for Taiwan in December, marking the largest U.S. arms sale to the island to date.

Reports have also suggested that another arms package worth around $14 billion could be approved after Trump’s visit to China, though its current status remains unclear.

The United States says such sales are necessary to ensure Taiwan can defend itself against possible military pressure from China.

Taiwan Defence Budget Faces Scrutiny

The issue gained further attention after Taiwan’s opposition controlled parliament approved only part of a proposed $40 billion defense budget requested by President Lai Ching-te.

The approved funding prioritizes purchases of U.S. weapons while reducing spending on some domestic defense programs, including drones.

American officials reportedly expressed disappointment that the budget fell short of what Washington believes Taiwan needs for adequate defense preparedness.

Taiwanese officials fear Beijing could use the reduced spending as leverage during talks with Trump to argue against further U.S. military support for the island.

Taiwan Rejects Beijing Sovereignty Claims

Speaking at the Copenhagen Democracy Summit, Lai described Taiwan as a sovereign and independent nation that would not yield to external pressure.

China quickly rejected those remarks, reiterating that Taiwan has never been and will never become an independent country.

Beijing also repeated warnings that it retains the option of using force to bring Taiwan under its control, although it continues to publicly favor peaceful reunification.

Taiwan’s ruling Democratic Progressive Party responded by emphasizing the island’s democratic system, independent government, and military institutions.

Taiwan Remains Central to US China Rivalry

Taiwan has become one of the most dangerous flashpoints in U.S. China relations, with both powers viewing the issue as tied directly to national credibility and regional influence.

For China, Taiwan represents sovereignty, territorial integrity, and national unity. For the United States, support for Taiwan is linked to maintaining regional stability and reassuring allies in the Indo Pacific.

Analysts warn that increasing military activity, arms sales, and political tensions surrounding Taiwan continue to raise the risk of miscalculation between Washington and Beijing.

Analysis

China’s warning ahead of the Trump Xi summit highlights how deeply the Taiwan issue shapes the broader strategic rivalry between the United States and China.

Despite ongoing diplomatic engagement and trade negotiations, Taiwan remains the most sensitive and potentially explosive issue in the bilateral relationship. Both sides see compromise on Taiwan as politically risky and strategically costly.

The large U.S. arms packages demonstrate Washington’s determination to strengthen Taiwan’s defense capabilities, especially as China rapidly expands its military presence around the island.

At the same time, Taiwan’s internal political debates over defense spending reveal concerns within the island about balancing military preparedness with economic and domestic priorities.

For Beijing, any increase in U.S. military support for Taiwan is viewed as interference in China’s internal affairs and a challenge to its sovereignty claims.

The summit between Trump and Xi may help reduce immediate tensions, but the fundamental disagreement over Taiwan is unlikely to ease. As military capabilities expand and political rhetoric hardens on all sides, Taiwan will remain a central test of whether the United States and China can manage strategic competition without drifting toward confrontation.

With information from Reuters.

US-Iran ceasefire holds as Tehran warns Washington against attacks on tankers and Israel kills 24 people in Lebanon.

BRITISH Airways passengers face higher fares after its parent company warned rising oil prices will add about £1.72billion to its fuel bill this year.

International Airlines Group (IAG), which also owns Iberia and Aer Lingus, said it expects to pass on part of the extra cost through ticket prices, with business class and other premium long-haul passengers among those most likely to be affected.

Chief executive Luis Gallego said airlines need to increase fares to help offset fuel costs, which make up about a quarter of their spending.

The rise follows disruption linked to the Middle East conflict and the closure of the Strait of Hormuz, which normally carries about a fifth of the world’s oil and gas shipments.

IAG warned the crisis could deepen if the strait remains blocked, with global jet fuel supplies potentially restricted.

However, the group said it does not expect any disruption to summer fuel supplies.

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Mr Gallego said there is less jet fuel coming from the Middle East, but there are “other places with record supply” such as the US.

He said IAG has been “planning for situations like this for many years”, and has invested in its own jet fuel supply at its “main hubs”.

The company recorded a pre-tax profit of £365million during the three months to the end of March.

That was a 76.6% increase from £207million a year earlier.

The group now expects its annual fuel bill to reach £7.78billion.

Mr Gallego attributed the firm’s “strong first quarter” to “continued strong demand for our networks and airline brands”.

He added: “IAG is uniquely positioned to navigate the current headwinds created by the Middle East conflict thanks to our leading positions across diverse markets, strong brands, structurally high margins and strong balance sheet, as well as a strong track record of execution.”

IAG said about 3% of its capacity was “exposed to the Gulf region” at the start of the war on February 28, mostly with British Airways flights.

A large part of this has been redeployed, including boosting capacity at destinations where there are now fewer flights by Middle East carriers such as Bangkok, Singapore and the Maldives.

British Airways has also announced additional flights this summer on routes with higher demand for direct flights, such as India and Nairobi.

JET fuel restrictions could hit airlines on a global scale, a major airline owner has warned.

International Airlines Group (IAG), who owns British Airways, Iberia and Aer Lingus, initially said that most of its airlines will unaffected this summer.

However, they warned that if the crisis continues, shortages will result in restrictions across the globe.

They said: “If the current conflict continues to restrict flows of both crude oil and jet fuel from the Middle East, there is the potential for supplies of jet fuel to be restricted on a global basis.

“We are engaging with governments in each of our home markets as well as with the EU to ensure that the industry is getting the support it needs to navigate this situation.”

IAG has said they expect their profit to be lower than anticipated. It also expects spend more than £1.72billion extra on fuel costs that previously predicted.

Read more on flight crisis

FINAL CALL

All of the airlines that have been forced to close this year

FUEL FEAR

All the airlines that have cancelled flights amid jet fuel shortage holiday fears

The closure of the Strait of Hormuz since March has resulted in fears of fuel shortages, and caused airlines to start hiking prices.

Some airlines, such as Lufthansa, Scandinavian Airlines and Cathay Pacific, have already reduced their flights scheduled for the upcoming months in an attempt to avoid cancellations caused by shortages.

Other airlines like Air France and Virgin Atlantic have already increased the cost of flights.

Despite the warnings, UK airlines have said they are not expecting to be affected by cancellations this summer.

Tour operators including Jet2 and TUI have said they are operating a full schedule as planned.

And IAG said that 70 per cent of the company has hedged fuel for the rest of 2026.

Here are all the airlines that have cancelled flights due to the jet fuel crisis.

There are some beautiful walks across the UK, but one can easily compare to a fairy tale scene, with four magnificent waterfalls to admire and winding pathways through woodland

One of the most popular UK walks passes by towering waterfalls and through enchanting woodland, but there’s one thing that nobody warns you about.

The UK is a haven for hikes, from climbing the highest mountain in the Scottish Highlands, to rambling alongside glacial ribbon lakes in the Lake District, to walking the Cotswold Way through charming villages. Not to mention the abundance of coastal trails, woodland, mountains, rivers, moorland and rolling hills that make up the UK’s varied terrain.

Some of the most striking landscapes, with varied rambling routes, can be found in the Bannau Brycheiniog National Park in South Wales, formerly known as the Brecon Beacons. The 520-square-mile protected area is famed for its dramatic mountains, including Pen y Fan, its highest peak, deep valleys and waterfalls that make up its atmospheric backdrop.

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During a weekend escape to the National Park, I took on one of the most popular walking routes, The Four Waterfalls Walk, which has often been cited as one of the best hiking experiences in Wales. The circular trail is in the Bannau Brycheiniog area, known as Waterfall Country, and passes by four magnificent waterfalls: Sgwd Clun-Gwyn, Sgwd Isaf Clun-Gwyn, Sgwd y Pannwr, and Sgwd yr Eira.

I parked at Gwaun Hepste car park (CF44 9JB) with portable loos and picnic benches, for £5 a day, which meant the route would take me around 5.5 miles (9 km) and roughly four hours. However, for those who would prefer a little more luxury, the Cwm Porth car park (CF44 9JE) has fully equipped toilets, a small shop and a visitor information centre, for £5 a day, and offers a slightly shorter route.

I set out on the walk on a welcoming, clear morning in Wales and followed the easy-to-navigate signs through woodland paths with grounds covered in bluebells. There were steady slopes passing towering trees before the terrain evened out for a gentle stroll to the first towering waterfall, Sgwd Clun-Gwyn.

This was perhaps the easiest waterfall to approach, with a short, pebbled woodland path to the cliff edge, where I could look down on the River Mellte gushing from the rugged, moss-covered rocks, which felt like a Jurassic Park backdrop. Some visitors were even brave enough to walk along the cliff edge to the tumbling water, but that wasn’t for me.

Instead, I continued on my trail and listened to the hum of the woodland, birds swooping from the tree tops, and the gentle chatter from fellow ramblers. Before the hike took an adventurous turn.

I found myself walking down steep wooden steps, along muddy terrain, across big stones, and over a wooden plank, which caught me off guard after my former amble along woodland paths. Yet it was well worth the descent.

I was met with a river flowing through carved out rocks, where people sat for a pit stop, and two waterfalls, the Sgwd Isaf Clun-Gwyn and Sgwd y Pannwr. Thankfully, it was a short walk from these waterfalls, and relatively flat, with giant stepping stones and some slippery rocks to climb to witness the plunging waters of Sgwd Isaf Clun-Gwyn, which really felt as though I had stepped into a fairy tale storybook.

Just when I thought my legs had taken enough steps for one day, I encountered the precipitous route to the last waterfall, Sgwd yr Eira. The steep steps, of around 170, zig-zagged down through the enchanting forest before eventually emerging at the bottom of the majestic waterfall, which was certainly the most impressive and popular amongst them all.

I spent time admiring the curtain of cascading water as it poured into the river, and thought it was one of the most incredible waterfalls I had ever seen. But what truly sets this apart is the ability to walk underneath the waterfall, which I certainly wasn’t going to miss out on, even if I had to carefully watch my foot placement on the wet surface.

It was surreal to find myself just inches away from the gushing water and its mist in an experience I won’t forget in a hurry. Needless to say, it was well worth the climb down more than 200 steps during my hike on the iconic trail, including the ones on the way back up, albeit a challenge.

Do you have a travel story to share? Email webtravel@reachplc.com

A MAJOR airline boss has said that the ongoing fuel crisis is causing more problems than Covid did.

AirAsia chief executive Tony Fernandes said the quick increase in jet fuel overnight was “much worse”.

He told the FT: “I thought I’d seen it all with Covid but having seen jet fuel go up almost three times – this is much worse.

“You wake up one day and your major cost has tripled – it was quite a new experience for me and I’ve been through a lot in my life.”

This was backed by the Chancellor of Germany earlier this year who said if it continues, it would affect the European economy as “heavy as we recently experienced during the Covid pandemic”.

The closure of the Strait of Hormuz since March has already caused problems for airlines, due to shortages of fuel.

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Airlines have been forced to cancel thousands of seats, with European airlines such as Lufthansa and Scandinavian Airlines already scrapping routes this month.

Globally, major airlines such as United, Cathay Pacific and Emirates have all reduced capacity as well.

Data from Cirium estimated that there were two million fewer seats on sale in May compared to predicted.

American budget airline Spirit Airlines was even forced into administration, citing the higher jet fuel costs as a major cause.

Thankfully, UK airlines are yet to be massively affected, with most tour operators confirming that holidays are still going ahead as planned.

The only disruption is to the Middle East with destinations like Dubai still on the travel ban list.

On The Beach has even launched a new initiative for travellers this summer, where, if their flight is cancelled, they will get a refund on the same day.

However, Ryanair boss Michael O’Leary warned that unless fuel prices dropping, airlines are at risk of failing this summer.

According to Politico, he said: “If pricing stays higher for longer this summer, we think a number of our airline competitors in Europe are going to face real financial difficulties. I think there will be failures.”

To protect passengers from last minute travel chaos, the Department for Transport has also revealed new measures which will allow airlines to cancel flights up to two weeks in advance, without losing their airport slots.

Transport Secretary Heidi Alexander said it would “give families long-term certainty and avoid unnecessary disruption at the departure gate this summer.”

But Which? Travel Editor Rory Boland warned: “Many passengers will understand that disruptions can occur and may be happy to travel a few hours or a day later.

“But for those on short trips or connecting flights it could mean the trip is no longer worthwhile.”

Published on
06/05/2026 – 15:39 GMT+2

The surge in jet fuel prices has become a primary concern for the European travel industry, with Lufthansa finding itself at the centre of this crisis.

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According to Lufthansa’s latest earnings report, the airline expects an additional €1.7 billion ($2bn) fuel cost burden in 2026 as soaring jet fuel prices continue to weigh on the industry.

The need to avoid certain airspaces has led to longer flight times, which naturally increases consumption. These adjusted routes also require more staff hours and higher maintenance cycles, adding layers of complexity to an already strained global supply chain.

As reported by Euronews, global airlines have already cancelled approximately 13,000 flights this May, while Lufthansa alone has axed 20,000 short-haul flights through to October in a bid to cut fuel consumption.

This reduction in capacity is a direct response to the unsustainable cost of operating older, less fuel-efficient aircraft during price peaks.

While Lufthansa has managed to stay profitable, the jet fuel price spikes have forced the firm to advise passengers to book their holidays as early as possible to avoid further surcharges.

The company is currently investing heavily in its “fleet modernisation” programme to mitigate these risks in the long term, though the immediate impact of fuel volatility continues to weigh on the balance sheet.

Lufthansa remains committed to its financial targets, but the volatility of the global oil market remains the largest variable in its 2026 outlook.

“We are satisfied with the first quarter […] at the same time, the current situation compels us to rigorously examine every lever available to reduce costs, improve efficiency and mitigate risks in order to maintain our ability to act decisively. Our annual profit will likely be lower than originally anticipated,” CFO Till Streichert stated.

The Lufthansa Group has announced a landmark financial performance, revealing that it generated the highest revenue in its history in 2025. Revenue rose by 5% compared with the previous year to €39.6 billion.

According to the latest figures, the airline group also saw its operating profit grow by 20% compared with 2024, highlighting a robust recovery in passenger demand.

In the first quarter of 2026, year-on-year revenue climbed 8% despite challenges linked to the conflict involving Iran, including €1.7 billion in additional costs caused by volatile jet fuel prices and the suspension of dozens of routes.

The firm kept its capacity broadly stable with slight growth in long-haul traffic compensating for capacity reductions in short and medium-haul segments.

Lufthansa Technik and Lufthansa Cargo also significantly contributed to earnings with demand for maintenance, repair and overhaul services increasing, as well as through the marketing of ITA Airways’ cargo space.

Global demand for air travel remains high and continues to prove resilient even in times of crisis, as Lufthansa Group again expects a strong summer travel season.

“In the first quarter, we significantly improved on the previous year’s financial results […] but the ongoing crisis in the Middle East, combined with rising fuel costs and operational constraints, poses enormous challenges for the world as a whole, for global air travel and for our company as well,” CEO Carsten Spohr stated.

“However, we are resilient in our ability to absorb these impacts. This applies both to our above-average hedging against fuel price fluctuations and to our multi-hub, multi-airline strategy, which provides us with greater flexibility in our route network and fleet development,” Spohr added.

May 5 (UPI) — Iran warned Tuesday that it was “just getting started” after its military clashed with U.S. forces attempting to guide commercial vessels marooned in the Persian Gulf out through the Strait of Hormuz.

Mohammad Ghalibaf, Speaker of the Iranian Parliament, signaling Iran’s intention to exploit the United States’ need for a timely resolution to the conflict, said Iran was digging in for an extended fight that it was prepared to keep going for as long as necessary.

“The new equation in the Strait of Hormuz is being solidified. Shipping security and energy transit have been jeopardized by the U.S. and its allies with the cease-fire violations and blockade. However, their evil acts will fail. We know well that the continuation of the status quo is intolerable for America, while we are just getting started,” said Ghalibaf.

Speaking at a news briefing at the Pentagon on Tuesday morning, U.S. Defense Secretary Pete Hegseth appeared to try to de-escalate the situation, stressing that the mission to free trapped merchant ships was a short-term, defensive operation purely aimed at providing protection for the hundreds of vessels he said “are lining up to transit.”

“Project Freedom is defensive in nature, focused in scope and temporary in duration, with one mission, protecting innocent commercial shipping from Iranian aggression. American forces won’t need to enter Iranian waters or airspace. It’s not necessary. We’re not looking for a fight,” he said.

However, echoing threats made by U.S. President Donald Trump on Monday night, Hegseth said that Iran “will face overwhelming firepower” if it attacks commercial shipping and that he expected other countries to “step up” to protect the strategically important sea lane “at the appropriate time.”

Day one of Trump’s Project Freedom on Monday saw Iran claim it fired on U.S. naval vessels approaching the strait, forcing one to turn around, while Trump said U.S. forces sank seven Iranian navy “fast boats,” prompting Iranian Foreign Minister Abbas Araghchi to dub the effort “Project Deadlock,” warning that the conflict could only be resolved through compromise.

The UAE also said it was targeted with Iranian missiles and drones for the first time since a cease-fire came into force April 9, blaming the attacks for a fire in its Fujairah Oil Industry Zone in which three people were injured.

“Events in Hormuz make clear that there’s no military solution to a political crisis. As talks are making progress with Pakistan’s gracious effort, the U.S. should be wary of being dragged back into a quagmire by ill-wishers. So should the UAE,” said Araghchi.

The comments came hours after Trump threatened to blow Iran “off the face of the Earth’ if it attacked U.S. vessels involved in Project Freedom.

U.S. Central Command said no U.S. Navy ships had taken fire while Iran rejected as “outright lies,” claims by CENTCOM that two U.S.-flagged merchant vessels “successfully transited through the Strait of Hormuz and are safely headed on their journey.”

EastEnders’ Ronni Ancona has warned that a “deeply malevolent” storyline will become “so much darker” for Honey and Billy as Bea “blacks out with anger” and “spirals”

EastEnders‘ Honey Mitchell is about to be put in danger, as creepy Bea Pollard finally snaps. According to star Ronni Ancona, Bea’s life in Walford is about to come crashing down, leading to a “deeply malevolent” atmosphere that will get “so much darker” for Honey.

Over the past few months, Bea has wormed her way into Honey’s (Emma Barton) life. She’s living in Honey’s house, buying the exact same clothes as her friend and has even taken out a credit card in her name.

As Honey and her husband Billy (Perry Fenwick) become more and more suspicious of Bea, Ronni says that her character is set to “spiral” – and it won’t be good for Honey.

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“It’s going to get so much darker for Honey and Billy. I would say that Bea increasingly spirals, and she becomes more dangerous as a result,” Ronni says.

She adds: “I think Bea almost blacks out with anger. There is something in her that switches when she is triggered, and at that point her actions become deeply malevolent.

“I think there’s a really interesting point here that she is very desperate. She knows time is running out for her, and I think that fuels her. It’s like a warped sense of self-preservation. I think she is horribly lonely, and I think it’s catastrophically damaging for her. She sees in Honey a chance of something real, and she’s not ready to give it up.”

Honey is set to find out about the credit card Bea has gotten and the enormous debt it has put Honey in. Ronni explains that Bea will initially try to get herself off the hook, but ultimately has to admit that what she did was wrong. Honey is just about to give in when Billy arrives home and orders Bea to leave.

Bea hasn’t liked Billy for a while, and some wondered if she had nefarious plans to replace him in Honey’s life. But Ronni has insisted that while Bea “loves Honey too much”, it’s not romantic and Bea’s dislike of Billy actually comes from how he can “see through her”.

“She finds him coarse, and she doesn’t respect him,” Ronni says. “I think initially she did, because she didn’t want to replace Billy; she wanted to be part of that family unit, and that’s all she wanted. But, I think the tide changed towards Billy for Bea when she realised he was not going to let that happen.

“He’s now in Bea’s way and all of this had added to fuel to her situation with Billy. In addition, the biggest thing for Bea is she knows that Billy can see right through her. That’s why she can’t stand Billy. Billy is a perfectly nice, hard-working guy who just wants a simple life with his family, but he can see through her, and therefore he’s a problem. “

But what about Ian Beale (Adam Woodyatt)? For the past couple of weeks, Bea and Ian have been dating, and she has thrown herself into getting him elected as a councillor for Walford. She seems intent on being his Mrs, but Ian is not so invested in the relationship.

Ronni says: “I tragically think she is alarmingly ecstatic about the very small steps in her relationship. This is quite Bea. She is a comic, tragic character, but her strange, warped optimism knows no bounds. Bea has this element of being an excited child, and she’s a bit of a dreamer like a Blanche Dubois character, and I think she has always imagined herself in a position and situation like this. It suits her just perfectly. Even though she’s gone through such terrible times, and is constantly rejected, this is a little clink of light.”

So how will she react when the newly minted Councillor Beale breaks up with her? “Bea switches so quickly. She’s mercurial, and she can’t seem to regulate her emotions. Bea suddenly gets very angry very quickly instead of processing the situation.

“She suddenly becomes vengeful about the situation with Ian. I do think Ian is a little hasty in his rejection of Bea. Evidently, I’ve heard that Bea is the only person who has been rejected, soundly, by every person in Walford!”

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Raman Kapoor, an Indian oil tanker captain stranded in the Gulf, says no vessel will attempt to exit the Strait of Hormuz without assurance of safety, despite the announcement of a US evacuation plan for ships stranded by the war.

Iran protests as Trump announces ‘Project Freedom’ to escort stranded ships out of the Strait of Hormuz.