Airbus receives order for two A350F Freighters from MNG Airlines

June 18 (Reuters) - Airbus (AIR.PA), opens new tab has received an order for two A350F Freighters from MNG Airlines, a global logistics provider and e-commerce enabler based in Türkiye, it said on Wednesday.
The new aircraft can carry up to 111 metric tons with a range of 8,700 kilometres (5,406 miles) and will offer an up to 40% reduction in fuel consumption and CO2 emissions compared to previous generation aircraft, Airbus said.
The two companies have signed a memorandum of understanding for the airplanes.

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The Independent

4 hours ago

• The Independent

Air India flight cuts: How many have been axed and what are your rights?

In the wake of the deadly crash of Air India flight AI171 in Ahmedabad on 12 June, the Indian national airline has cancelled dozens of flights over the next 25 days – with a warning that cuts could continue beyond that. At least 275 people died when the Boeing 737 Max came down moments after take-off on a flight to London Gatwick. Air India has axed 15 per cent of its international wide-bodied schedule between 21 June and 15 July. Links from Amritsar and Goa to London Gatwick have been suspended, while there will be fewer flights on routes to and from London Heathrow and Birmingham airports. These are the key questions and answers. What's the background? Air India 's chief executive, Campbell Wilson, told passengers: 'Arising from this tragedy, and as directed by the Directorate General of Civil Aviation (DGCA), we have been conducting thorough safety inspections on our 33 Boeing 787 aircraft. So far, inspections have been completed on 26 and these have been cleared for service. The remaining aircraft are currently in planned maintenance and will have these additional checks done before being released into service. 'Following the review, the DGCA has confirmed that our Boeing 787 fleet and maintenance processes fully meet safety standards. 'Regrettably, the time required to perform these enhanced safety checks, along with the application of extra caution, external factors like airspace closures in Iran and the Middle East as well as night-time restrictions at some international airports, along with normal airline technical issues, has led to a higher-than-usual number of cancellations on our long-haul network in the past few days. We know these disruptions have been frustrating, and we're truly sorry for the inconvenience.' What is being done? The Air India boss said: 'As a confidence-building measure, we have elected to continue enhanced pre-flight safety checks on our Boeing 787 fleet and, as an added measure, our Boeing 777 aircraft, for the time being. 'Given the time these additional checks will consume and the potential impact on schedules, we have decided to reduce our international wide-body flights by around 15 per cent.' He said the cancellations would continue "through to at least mid-July', suggesting there could be further disruption. 'This will also allow us to have more backup aircraft ready to handle any unexpected issues,' he said. Which UK routes are affected? Cancelled until 15 July (or later): Amritsar and Goa to London Gatwick, due to be flown three times a week on each route. Reduced frequencies Delhi- London Heathrow: Two of the 24 flights each week cancelled. Bengaluru-London Heathrow: One of the daily flights cancelled. Amritsar-Birmingham and Delhi-Birmingham: One of the three-a-week flights cancelled on each route. Any impact further afield? Yes. Connecting flights from Delhi to Melbourne, Sydney, Seoul and Tokyo have had frequencies reduced, making onward connections more difficult. What does the airline say? 'Air India apologises to the passengers affected by these curtailments, and is proactively contacting affected passengers to offer a choice of: 'Re-accommodation on alternative flights "Complimentary rescheduling 'Full refunds' It appears that the first two options are basically the same. There is no clarity about whether alternative flights will be on Air India only, or on other airlines. I have a booking for the summer. What are my rights? It depends on whether you are flying from the UK (or elsewhere in Europe) to India, or in the opposite direction. Starting in Europe, you are covered by air passengers' rights rules that insist in the event of a cancellation, you should be offered the best available alternative – including on another airline if that is the optimum way to get you to your destination on schedule. You should also be provided with meals and, if necessary, accommodation until you reach your destination. Some passengers may request compensation of £520 if the cancellation is notified less than two weeks in advance and significantly disrupts their travel plans. Flying from outside the UK/EU on a non-European airline like Air India, you have no such rights. You may be restricted to Air India, or fellow airline members of the Star Alliance. You are not automatically entitled to meals and accommodation. Anything more? Airline boss Campbell Wilson says: 'This is a challenging time for all of us. We are grateful for your support, and your understanding that safety must always come first. Your trust means everything to us, so if you have any questions or need assistance, please don't hesitate to contact us through our customer support channels.'

Finextra

4 hours ago

• Finextra

Issuers must take urgent action against fraud as chargebacks escalate: By Frank Moreno

Recent data shows that issuers and merchants are struggling with rising chargeback abuse. With all indicators pointing to the already considerable problem growing by a further 24% by 2028, financial institutions (FIs) must act or risk losing both customers and profits. According to the Mastercard's 2025 State of Chargebacks report, abuse of chargebacks is a rapidly growing problem, with both merchants and FIs taking a significant hit. And things are about to get worse. Worldwide, issuers and merchants have seen a 10% increase in chargeback volume in the past year. This rise has been driven by a rapid growth in digitization as consumers lean into the convenience of e-commerce. In addition, the ease of disputing transactions at the click of a button has seen FIs in both the U.S. and UK experiencing a 30% to 40% increase in consumer dispute volumes via their digital channels. In fact, the report suggests that over the next five years, global chargebacks volume is set to grow from $261 million in 2025 to reach $324 million in 2028. For the U.S., this means chargebacks will total a staggering $20.47bn in just three years. For issuers, the picture looks even bleaker. Globally, only 28% of their chargebacks are legitimate disputes, while a whopping 72% are fraudulent (59% being third-party fraud, while 13% is first-party fraud). Card issuers face a complex set of challenges One of the biggest challenges facing FIs when it comes to third-party card-not-present (CNP) fraud that fuels chargebacks is aging infrastructure. Legacy systems are limited in their ability to handle this type of fraud due to outdated architectures, fragmented data, and reliance on rigid rule-based detection. Many systems are also still heavily reliant on manual investigation processes. Tracking fraud is another major headache. The same research found that not all FIs track whether the fraud is first-party or third-party. Misclassification and underreporting could lead to inadequate response strategies and higher operational costs, with FIs burdened by time-consuming and expensive investigations. In fact, some FIs report that they need one full-time employee for every $13,000 to $14,000 in incoming annual cardholder disputes. Issuers can attest: first-party fraud is especially hard to pinpoint. What's more, the cardholder's history may show no prior suspicious activity. Responding to a customer dispute by suggesting that they are lying or committing fraud will hardly help FIs maintain good relationships with their hard-won customers. In the U.S., for instance, FIs and merchants only win around half of their disputes and, in the absence of forensic proof, they are likely to issue the chargeback – even if the suspicions are valid. Take action early to avoid future pain Many Fis may not be aware what a significant role an effective 3DS program could play in the fight against chargebacks. Stopping fraud at the point of authentication is the low-hanging fruit in reducing the cost of chargebacks. With the right 3DS access control server (ACS) and modern authentication methods, FIs can combat first-party fraud with forensic proof that the transaction was legitimately authenticated. Moreover, they can tackle third-party fraud by simply detecting fraud more effectively – without adding friction. To reduce the impact of first-party fraud, cryptographic device binding technology is able to link each customer's account to a specific device and app, creating a unique digital signature for every transaction. This allows FIs to prove that a transaction was performed from the legitimate user's device, enabling banks to present strong, tamper-proof evidence to refute first-party fraud claims. To battle third-party fraud, 3DS programs that harness risk-based authentication (RBA) and low- or no-friction authentication methods empower FIs to use strong security that improves the cardholder experience and increases transaction success. However, an FI's 3DS approach should be part of a broader, multi-layered fraud prevention strategy that includes context-aware authentication not only to detect fraud across banking and payment channels more effectively, but also to recognize customers across channels to deliver consistent, streamlined experiences. Creating a better experience There has never been a more urgent time for FIs to consider how to update their chargeback reduction strategy. 3DS is an under-appreciated tactic in that regard. If issuers or merchants are concerned that fraud prevention will add friction that negatively affects transaction success, they are using the wrong fraud prevention authentication tools. Automated tools and AI learning models can help eliminate overall friction for consumers and improve the digital experience, while also providing more effective fraud detection. With robust authentication and clear transaction context, it becomes possible to dramatically reduce fraud and increase transaction success rates. While chargeback abuse and fraud are persistent challenges, new opportunities are available to issuers to combat increasingly sophisticated attempts in their earliest stages with the right combination of 3DS solutions, risk insights authentication, and modern authentication methods. FIs must act now – failure could risk further eroding already pressured margins, and customers looking to competitors that deliver more secure and user-friendly payment experiences.

Finextra

5 hours ago

• Finextra

Payabl. integrates Prestashop into e-commerce platforms, enabling seamless payments for merchants

European fintech provider payabl. has announced the launch of a new integration with PrestaShop, one of Europe's leading open-source e-commerce platforms. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The newly available plug-in allows PrestaShop users to connect to payabl.'s end-to-end payment infrastructure, giving online merchants access to over 300 local payment methods, card acquiring, multi-currency support, fraud prevention, and real-time reporting – all through a seamless checkout experience. Through this integration, PrestaShop's 250,000 merchants will now have the option to easily connect to payabl.'s technology and offer customers a seamless, secure, and scalable checkout experience. The plug-in enables merchants to accept card payments and 300+ local payment methods, supporting multi-currency transactions, built-in fraud prevention, and real-time reporting. While e-commerce sales in Europe are expected to surpass €565 billion by 2029*, payabl.'s research has shown 43% of consumers say that they would not return to a retailer after a poor checkout experience**, making the payment experience central to maximising this growth opportunity. This integration means PrestaShop's merchants can feel confident they are offering their customers an improved checkout experience with less friction, as well as faster and safer transactions. Today's announcement reflects payabl.'s commitment to simplifying payment processes for merchants and making secure, scalable solutions accessible across Europe. By launching this integration, payabl. aims to offer PrestaShop merchants an enhanced checkout experience while expanding its presence across one of the largest e-commerce ecosystems in the region. Ugne Buraciene, Group CEO of payabl., said: 'E-commerce continues to grow at pace across Europe, and making payabl.'s technology available to PrestaShop merchants is a natural step in our mission to support businesses with robust, scalable payment solutions. 'Today's consumers expect checkout experiences that are simple, fast, and secure — and our integration is designed to help merchants deliver exactly that. With payabl., businesses using PrestaShop can focus on growth while relying on a frictionless, secure payment infrastructure that keeps up with evolving customer demands.' European e-commerce expansion Reversing the immediate post-pandemic trend of in-store buying, e-commerce sales are now predicted to grow 7.8%. According to Forrester, this will increase by 16% from €389 billion in 2024 to €565 billion in 2029, with contributing factors including a stronger economy, the increasing adoption of omnichannel strategies, better price transparency, and cross-border marketplace expansion. In response to this accelerating demand, payabl. has made its advanced payment technology available to online merchants using the PrestaShop platform. The integration supports the growing need for secure, efficient, and scalable payment solutions across Europe and beyond. payabl. is a leading financial technology provider, delivering end-to-end payment solutions across card acquiring, local payment methods, point-of-sale (POS) terminals, multi-currency business accounts, and card issuing. Its gateway enables merchants to accept card payments and over 300 local methods globally, with seamless integration, real-time reporting, and dedicated support. Combining advanced payment technology with built-in fraud prevention and a high-touch service model, payabl. empowers businesses to grow faster with secure, scalable, and innovative payments.