Victoria Craig

Peter Campbell covers the global transport industry for the FT and joins me now.

Hi, Peter.

So I think price cuts really are the opposite of what I was expecting to read in your latest story.

Just walk me through what's happening here.

All right.

So it sounds like there are some deals to be had.

But on the other end of the spectrum, our colleagues reported last week that the EU has told airlines that they need to continue to reimburse passengers for any flight cancellations that are caused by these high energy prices.

I'm just curious, Peter, what are the airlines pushing for on this regulatory front?

Do they want to see looser regulations in a sense to help deal with this issue?

One thing I've been wondering in all of these weeks of talking about this looming jet fuel shortage is that, you know, we keep hearing there's just six weeks left or so of supply.

What happens after that?

Could we actually see an entire industry that is completely unable to operate at some point if this war continues?

Peter Campbell covers the global transport industry for us at the FT.

Thanks so much for your time, Peter.

The economic disruption from the war in Iran could prompt the Federal Reserve to raise interest rates.

That's the view from the chief investment officer at bond giant PIMCO.

Dan Iveson told the FT that the surge in energy prices from the Strait of Hormuz closure poses new challenges for the U.S.

central bank, which has struggled to bring inflation down in recent years to its 2 percent target.

Last month, the Fed kept rates on hold for the third straight meeting, but hinted that its next move could be a cut.

Iverson said that would be, quote, counterproductive given the burst of inflation the war is igniting.