TUI ‘Urgently' Needs New Boeing Jets as Delays Hit Profitability
TUI AG said Boeing Co. delivery delays are hurting profitability, as the German travel firm plans to expand in eastern Europe and southeast Asia.
Among the delayed aircraft is Boeing's new 737 Max 10 model, which is yet to be certified. The single-aisle jet will offer 30 more seats that would give TUI a cost advantage, Chief Executive Officer Sebastian Ebel said Friday.
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Politico
a day ago
- Politico
The winners and losers in Trump's NATO arms race
NATO members are rushing to show President Donald Trump they're shoveling money into defense — some with a dose of creative math — as Russia's battle with Ukraine grinds on and war threatens to consume the Middle East. The group's summit this week in The Hague, which Trump plans to attend, will attempt to set a deadline for members to spend 5 percent of GDP on defense. Trump has complained about European defense budgets since his first term, claiming the U.S. gets ripped off by countries that rely on Washington for a security blanket. The way allies approach this at the summit is critical. Leaders will need to walk a tightrope between staying on the president's good side — and continuing to benefit from America's role in NATO — and declaring more independence from Washington. As Trump increases pressure, members are touting new investments and shuffling around money — from a 'defense-adjacent' Sicilian bridge to a stopgap German fund. A POLITICO analysis reveals telling gaps between the big spenders in Eastern Europe and those further afield from Russia, who are still creeping toward a decade-old target. The 32 member states break down into three groups: the winners, the risers and the laggards. Most countries occupy a crowded middle ground, not quite racing toward the new 5 percent goal, but making solid progress in exceeding the current 2 percent mark. 'Most of NATO recognizes that it has to be better,' said a U.S. Defense Department official, who like others, was granted anonymity to discuss internal conversations. 'We're looking at these meetings as a very public chance, with the president watching, for them to step up.' Here's how NATO members are faring in the race to spend. Poland has led the pack for the last several years, spending 4.7 percent of its GDP on defense as it splurges on everything from drones to fighter planes. The country, which borders Russia and has dealt with errant missiles killing citizens, is keenly aware of the threat from its eastern flank. That kind of wake-up call has spurred Warsaw to ask the European Commission to shift $6.9 billion of its funding in green projects to defense. The bigger spending has made Poland a favorite in Washington. The Poles are getting creative in their weapons purchases by mixing systems and suppliers from multiple countries to get equipment delivered faster. Poland was the first NATO member to spend billions on South Korean long-range artillery and other systems — a move that other countries frustrated with delayed shipments of U.S. weapons, such as Finland, are emulating. Countries will do 'whatever works' to get to 5 percent, said a diplomat from a NATO member country, including folding infrastructure upgrades into defense spending to push the overall number higher. Estonia, Lithuania and Latvia — former Russian territories that tend to march in lockstep when it comes to defense spending — have outlined plans to hit 5 percent by next year or soon after. They're already among the alliance's top spenders. Baltic officials are embracing a 'porcupine' strategy, modeled off Taiwan's efforts to ward off a Chinese invasion. This involves using small, mobile and lethal weapons fired from shore at any Russian Baltic Sea fleet ships that might threaten them. Greece is a surprise spender on defense, bucking the trend of most Mediterranean countries by dishing out more than 3 percent of its GDP. Prime Minister Kyriakos Mitsotakis in April announced a 12-year, $28 billion defense strategy that will focus on uncrewed vehicles, munitions, drones, satellites and its Achilles' Shield air defense system. The U.S. spends more than any other member on defense, but it still only reaches 3.4 percent of GDP. The country faces its own political challenges in reaching the NATO goal, even with a potential 2035 deadline that allies may recommend at the summit. The United Kingdom and France, Europe's two nuclear states, have made steady increases in recent years but face issues behind the scenes. Britain's defense budget rose from 2.2 percent of GDP in 2023 to 2.3 percent in 2024, with a sharp increase in research and development spending. It also paid extra for major operations such as air defense in the Red Sea and aircraft carriers deployed to the Pacific. Prime Minister Keir Starmer has promised to take that figure to 2.6 percent by 2026 — thanks in part to folding in intelligence and slashing spending on foreign aid. But he's beset by severe budget issues and has not yet set out a path to his goal of hitting even 3 percent. Paris has steadily increased defense spending since President Emmanuel Macron came to power in 2017. But it only hit 2 percent last year. France is one of the European Union's most indebted countries, and public finances are dire. It's unclear how the government would find extra money to reach the 5 percent goal, especially as Macron has ruled out raising taxes. Germany and Sweden have both rewritten their debt rules as they reach 2 percent and aim higher. German governments saw the NATO target as non-binding for years, and only the advent of war in Europe — dubbed the Zeitenwende, or turning point, by former German Chancellor Olaf Scholz — prompted the country to change course. Berlin in 2024 reported 2.1 percent of GDP on defense spending, exceeding the alliance benchmark for the first time since 1990. But the increase doesn't boost combat strength and relies on some fancy accounting. A sizable chunk of the 2024 defense budget came from a special temporary spending fund. Sweden's defense spending surged following its 2024 accession to NATO from 1.5 percent to 2.2 percent of GDP last year. Stockholm is tweaking its debt rules to allow for up to about $30 million in defense loans by 2035. Then there's Turkey. While Ankara has missed the 2 percent mark in recent years, it has a well-developed arms industry and punches above its spending weight in weapons and the size of its military — the second-largest in NATO. Several strategically vital countries hang well below the 5 percent goal, particularly Canada, Spain and Italy. All three have made pledges to catch up. But politics, accounting tricks and historical habits are slowing progress. Canada spends just 1.37 percent of GDP on defense, with key equipment gaps across its forces. Prime Minister Mark Carney this month promised to hit 2 percent 'this fiscal year,' bringing forward a target initially set up for 2029. The lag has deep roots. Ottawa has long relied on U.S. defense guarantees while prioritizing social spending and climate goals. Carney is framing rearmament as a sovereignty issue in light of Trump's threats to annex Canada, but that would require a rapid ramp-up in procurement and industrial capacity. Spain remains NATO's lowest spender, aside from Iceland, which has no army. Madrid spent 1.3 percent of GDP on defense in 2024. Prime Minister Pedro Sánchez has rolled out an €11 billion military upgrade plan to reach 2 percent this year. It's the country's most ambitious defense posture in decades. But Sánchez is boxed in by his governing coalition. Left-wing allies remain opposed to higher military budgets, and previous attempts to raise spending triggered a backlash. He asked Rutte this month, in a letter obtained by POLITICO, for a carveout to the new spending target. 'It is the legitimate right of every government to decide whether or not they are willing to make those sacrifices,' he wrote, saying it would jeopardize the country's welfare system. Italy was only slightly higher at 1.5 percent last year. Prime Minister Giorgia Meloni said the government will hit the 2 percent target this year, but officials suggest that may happen more through clever accounting. Rome wants civilian infrastructure, such as a planned bridge to Sicily, to count as a defense-adjacent goal. Defense spending remains a politically fraught topic as the country faces high debt levels and strong pressure to protect pensions and welfare. This text is a collaboration of the Axel Springer Global Reporters Network. Paul McLeary reported from Washington, Chris Lunday reported from Berlin and Esther Webber reported from London. Jacopo Barigazzi in Brussels, Mike Blanchfield in Ottawa, Jack Detsch in Washington, WELT's Philipp Fritz in Warsaw, Max Griera in Brussels, WELT's Thorsten Jugholt in Berlin and Laura Kayali in Paris contributed to this report.
Forbes
2 days ago
- Forbes
Le Bourget - A Subdued But Substantial Paris Air Show
Crowds at the 55th edition of the International Paris Air Show at Le Bourget, on June 16, 2025. ... More (Photo by Alain JOCARD / AFP) (Photo by ALAIN JOCARD/AFP via Getty Images) The Paris Air Show is the largest air show in the world as measured by attendees or exhibitors. It has been held every two years (on odd numbered years) since 1949. The first four days are devoted to industry participants from both commercial and defense sectors representing OEM's and companies down through the supply chain and support services. Originated in 1908 as an offshoot of the Paris Motor Show, it was held at the Grand Palais in Paris until 1953 with flying demonstrations at Paris Orly airport. With the advent of commercial aviation growing to the mass market, the Show was moved to Le Bourget field, the landing site of Lindbergh's historic solo transatlantic crossing in May 1927, where he was greeted by a crowd of over one hundred thousand onlookers. The first "Salon du Locomotion Arienne" held in Paris's Grand Palais, 1909. Bleriot and other ... More monoplanes are seen in the foreground. In years past, Air Shows provided a measuring stick for the two major commercial aircraft OEM's, Boeing and Airbus, to keep score in their competition with each other. This was especially true in the 90's and early 00's as Airbus was gradually accumulating market share and eventually overtaking Boeing in aircraft sales and production. Companies would hold orders that had already been inked in previous months in order to boost their count for splashy headlines during the week of the Show. The Show also provided a world stage for the flight demonstration of a new aircraft model or defense system. In 2025, many of those aspects have changed or receded amidst a backdrop of war, recent tragedy and technological plateau. The ongoing hostilities in Ukraine have placed the spotlight on lightweight, agile offensive systems as opposed to the 'big iron' of new expensive weaponry. The tragic loss of an Air India Boeing 787 days before the Show led to the decision for senior Boeing executives to not attend and for the company to keep a low profile. The duopoly of the Airbus A320 and Boeing 737 series continues to build backlog without expectation of a new technology aircraft for at least a decade. A similar development was apparent in the military realm where legacy platforms which were designed years or decades earlier were being adapted to new missions, outfitted with new sensor suites, or positioned as flying 'command posts' for unmanned weapons. Nevertheless, dynamism was apparent in other sectors including Advanced Air Mobility (AAM), space systems and Maintenance Repair and Overhaul (MRO). MRO has continued to be a focus due to the continued demand driven by commercial aircraft that will need to be flown years longer on average, due to the production shortfalls resulting from the pandemic and various Boeing delays. JetZero ("A New Entrant to the Commercial Aerospace Duopoly?" - March 28, 2025) detailed its development plan for it's radical design aircraft that could serve as a next generation airliner or a military tanker. Sustainability, which has been a persistent focus for innovation over the past several years, was still strongly evident in pronouncements and product attributes, but the growing recognition that Sustainable Aviation Fuel (SAF) and hydrogen powered aircraft are not near term environmental solutions reflected the recent waning support from the International Air Transport Association (IATA) and Airbus. Several geopolitical forces were also evident in the concerns of attendees. First, the US Administration's pronouncements indicating weakened support for NATO and the need for European countries to contribute more to their own defense has intensified investment in and activities of defense companies within the EU. This coupled with the Administration's increase of the US defense budget amid global tensions resulted in a much more defense focused show than in years past. The mood was amplified by the Israeli attacks on Iran that began over the weekend when many of the initial receptions and gatherings were being held. Second, the Administration's imposition of tariffs has increased focus on the resiliency of global supply chains and the ability to meet production goals in a much more complex environment. On both the commercial, as well as the military side, the ability to deliver against order books was a paramount concern due to the ongoing ramp in commercial deliveries, and the shortfalls in munitions and missiles from wars in Ukraine and the mid-East. Much as the iPhone has continued to improve capabilities on a platform that debuted eighteen years ago, the sense of the show was not on new product announcements but on enhancements to legacy platforms and proving capability to meet demand expectations in a challenging global environment.
Miami Herald
2 days ago
- Miami Herald
Acura Launches Killer Integra Lease Deal for June
As prices for new cars continue to rise year over year, it's harder to find lease deals that are worth considering, especially when it comes to luxury cars. These high-priced sedans and SUVs carry lofty price tags, which lead to higher lease payments and down payments. However, if you're willing to forgo the panache that comes with German badges, then we suggest checking out more affordable options from Japanese automakers like Acura. One particular lease deal that Acura has going on for the month of June is on the entry-level Integra. The current nationwide lease deal is for $369 per month for 48 months, with $3,799 due at signing. The offer includes a mileage limit of 10,000 miles per year. If you currently own a 2015 or newer Acura or a competitor from rival brands, you can get a sweeter deal of $359 a month for 48 months, with $2,999 due at signing. The rival brands include Audi, BMW, Cadillac, Chevrolet, Ford, Genesis, GMC, Honda, Hyundai, Infiniti, Kia, Lexus, Mazda, Mercedes-Benz, Nissan, Subaru, Toyota, Volkswagen, and Volvo. The Integra is Acura's latest entry in the compact car segment and the most affordable car in the automaker's lineup. It competes well within the segment with rivals like the Audi A3, BMW 2 Series, and Lexus IS, but it brings its own take on luxury by adding a healthy dose of performance. Under its hood is a 200-horsepower, turbocharged 2.0-liter engine that can be connected to either a CVT or a six-speed manual transmission. There are no major changes for the 2025 model year. Shopping for the Acura Integra is easy, as there are only three different trim levels to choose from: Base, A-Spec, and A-Spec Technology. The lease deal in question is for the base Integra with a CVT and a $34,195 MSRP, which includes the destination charge, but the taxes, title, license, and doc fees are extra and will vary depending on your region. If you would rather minimize your upfront costs when leasing a 2025 Acura Integra, we have estimated the payment with $0 down. By dividing the $3,799 due at signing over the 48-month term (approximately $79.15), the estimated payment equates to around $448 every month. *This $0 down figure is an estimation. Official $0 down lease offers from Acura may differ based on their specific calculations, credit approval, and potential money factor adjustments. Always obtain an official quote directly from Acura. Lease offers can vary based on location and specific vehicle configuration (trim level, options, etc.) and are subject to credit approval. The advertised payments typically exclude taxes, title, registration, and other potential fees. To take advantage of this lease offer or get an official quote tailored to your buying needs (including an official $0 down quote), visit the official Acura website here. *Disclaimer: This article is provided for informational purposes only. The information presented herein is based on manufacturer-provided lease offer information, which is subject to frequent change and may vary based on location, creditworthiness, and other factors. We are not a party to any lease agreements and assume no liability for the terms, conditions, availability, or accuracy of any lease offers mentioned. All terms, including but not limited to pricing, mileage allowances, and residual values, require direct verification with an authorized local OEM dealership. This article does not constitute financial advice or an endorsement of any particular lease or vehicle. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
