logo
More Europeans are flying to Canada than ever before, aviation data shows

More Europeans are flying to Canada than ever before, aviation data shows

Travel between Canada and Europe is booming — as both sides turn away from the US.
According to data from the aviation analytics firm Cirium, a record-breaking 4,276 flights are scheduled between Canada and Europe this month.
That's up 5% since the same period last year, 14% since before the pandemic, and more than 40% over the past decade.
The rise has been backed by flag carrier Air Canada, which added an extra 112 flights, or 34,500 seats, this month.
It opened five new transatlantic routes, including Edinburgh, Scotland, and Naples, Italy, to Montreal.
Flights between the US and Europe have been growing too, but not as quickly.
Cirium data shows a rise of 4% between August 2024 and August 2025, and one-third between August 2015 and August 2025.
Airlines have raised concerns that fewer people are interested in visiting the US since Donald Trump began his second presidency in January.
For July and August, airlines cut capacity by 3.5% on routes between the US and Canada, OAG reported in March.
"This sharp drop suggests that travelers are holding off on making reservations, likely due to ongoing uncertainty surrounding the broader trade dispute," said John Grant, the travel data firm's chief analyst.
While political tensions also saw bookings drop from Europe, price cuts helped encourage a rebound in May, Nicholas Smith, holidays digital director at Thomas Cook and eSky Group, told Business Insider's Thibault Spirlet in June.
Nonetheless, it may be that more Europeans are now choosing Canada instead of the US for a transatlantic vacation.
In April, the CEO of hotel giant Accor told Bloomberg that forward bookings for Europeans visiting the US this summer have fallen by a quarter. He added that they were instead looking at destinations like Canada and South America.
And while many Americans are still enjoying their " Euro Summers," the post-pandemic explosion of such trips may start to wane.
The dollar is about 11% weaker against the euro compared to the start of the year, when it was at near parity. That means traveling to Europe is more expensive than before.
Meanwhile, the Canadian dollar has dropped too, versus the euro, but only by 6%.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Oil prices rebound from 5-week low on Trump threats on Russian crude buyers
Oil prices rebound from 5-week low on Trump threats on Russian crude buyers

Yahoo

time15 minutes ago

  • Yahoo

Oil prices rebound from 5-week low on Trump threats on Russian crude buyers

By Yuka Obayashi TOKYO (Reuters) -Oil prices climbed on Wednesday, rebounding from a five-week low in the previous day, on concerns of supply disruptions after U.S. President Donald Trump's threats of tariffs on India over its Russian crude purchases. Brent crude futures rose 29 cents, or 0.4%, to $67.93 a barrel by 0119 GMT while U.S. West Texas Intermediate crude was at $65.44 a barrel, up 28 cents, or 0.4%. Both contracts fell by more than $1 on Tuesday to settle at their lowest in five weeks, marking a fourth session of losses, on oversupply concerns from OPEC+'s planned September output hike. "Investors are assessing whether India will reduce its Russian crude purchases in response to Trump's threats, which could tighten supply, but it remains to be seen if that will actually happen," said Yuki Takashima, economist at Nomura Securities. "If India's imports remain steady, WTI is likely to stay within the $60-$70 range for the rest of the month," he said. The Organization of the Petroleum Exporting Countries and its allies, together known as OPEC+, agreed on Sunday to raise oil production by 547,000 barrels per day for September, a move that will end its most recent output cut earlier than planned. The OPEC+ pumps about half of the world's oil and had been curtailing production for several years to support the market, but the group introduced a series of accelerated output hikes this year to regain market share. At the same time, U.S. demands for India to stop buying Russian oil as Washington seeks ways to push Moscow for a peace deal with Ukraine could upset supply flows as Indian refiners seek alternatives and Russian crude is redirected to other buyers. Trump on Tuesday again threatened higher tariffs on Indian goods over the country's Russian oil purchases over the next 24 hours. Trump also said declining energy prices could pressure Russian President Vladimir Putin to halt the war in Ukraine. New Delhi called Trump's threat "unjustified" and vowed to protect its economic interests, deepening a trade rift between the two countries. Nomura's Takashima also pointed to industry data showing crude inventories in the U.S., the world's biggest oil consumer, as supportive for the oil market. U.S. crude inventories fell by 4.2 million barrels last week, sources citing American Petroleum Institute figures said on Tuesday. That compares with a Reuters poll estimate of a 600,000 barrels draw for the week to August 1. [API/S][EIA/S] The U.S. Energy Information Administration is due to release its weekly inventory data on Wednesday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Dollar drifts as investors await Fed governor replacement
Dollar drifts as investors await Fed governor replacement

Yahoo

timean hour ago

  • Yahoo

Dollar drifts as investors await Fed governor replacement

By Rae Wee SINGAPORE (Reuters) -The dollar was rangebound on Wednesday, with investors choosing to stay on the sidelines ahead of U.S. President Donald Trump's pick to fill a coming vacancy on the Federal Reserve's Board of Governors. Trump said on Tuesday he will decide on a nominee by the end of the week and had separately narrowed the possible replacements for Fed Chair Jerome Powell to a short list of four. Data out the same day also showed the U.S. services sector activity unexpectedly flatlined in July even as input costs climbed by the most in nearly three years, underscoring the hit from Trump's tariffs on the economy, which has also begun to bite corporate earnings. Still, those did little to sway the dollar, as traders were hesitant to take on fresh positions ahead of news on who would fill the Fed board vacancy. Concerns are mounting that partisan loyalty would invade the staid world of central bank policy. The dollar was last little changed at 147.54 yen, while the euro ticked up 0.02% to $1.5760. Sterling last bought $1.3304. Moves in currencies overnight had been muted. "I still think that between now and the end of the week, if Trump is going to make an announcement about who he wants to fill the vacant board seat, depending on... how credible (the markets) view that candidate to be, I think that has the potential to prompt some reaction across everything," said Ray Attrill, head of FX research at National Australia Bank (NAB). "For me, that' the biggest swing factor for the next sort of 48 hours or so." While moves in the dollar have been more subdued this week, the currency has yet to recover from its steep losses on Friday, when it clocked its largest one-day percentage fall in nearly four months following an alarming jobs report. Against a basket of currencies, the dollar was last at 98.76, still some distance away from its peak of 100.25 hit on Friday before the nonfarm payrolls figures. Traders continue to price in an over 90% chance of a Fed cut in September, with about 58 basis points worth of easing expected by the year-end. But data such as Tuesday's services ISM report underscore the fine line the Fed has to tread, as policymakers weigh rising price pressures from Trump's tariffs against signs of a weakening U.S. economy. "The services ISM has obviously got that kind of stagflationary whiff about it... that's obviously a bit of a two-edged sword in terms of what does that mean for policy," said NAB's Attrill. "At the moment, I think we're sort of of the view that maybe there's a bit too much confidence in the market about the certainty of a September move." In other currencies, the Australian dollar rose 0.15% to $0.6479, while the New Zealand dollar gained 0.23% to $0.5914. New Zealand's jobless rate rose slightly in the second quarter as the labour market remained soft, data on Wednesday showed, supporting the view that the central bank will proceed with a flagged 25 basis-point interest cut at its August policy meeting. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

CNBC Daily Open: Trump's interview suggests he's not backing down from his policies
CNBC Daily Open: Trump's interview suggests he's not backing down from his policies

CNBC

timean hour ago

  • CNBC

CNBC Daily Open: Trump's interview suggests he's not backing down from his policies

U.S. President Donald Trump joined CNBC's "Squawk Box" Tuesday for a lengthy interview that touched on tariffs, the Federal Reserve, the state of Russia's economy and being rejected as a customer by JPMorgan Chase and Bank of America. For those pressed on time and want a very broad TL;DR: Trump appears to be digging in on his policies. With modified country-specific "reciprocal" tariffs due to start Aug. 7 — and duties on India to be raised within the next 24 hours, according to Trump's comments during the interview — the Trump administration seems to be turning its attention to sectoral ones. Trump told CNBC that he will announce his tariff plan for semiconductors "within the next week or so." Additionally, he will impose "a small tariff" on pharmaceutical imports before ratcheting it up to 250% within a year and a half. The U.S. president doesn't look like he's backing down from his feud with the central bank, either. Days after the Fed chose to hold interest rates, Trump discussed his potential candidates to replace Jerome Powell as Fed chair. Among those contenders are former Governor Kevin Warsh and Kevin Hassett, the National Economic Council director. "Both Kevins are very good," Trump said. Whichever Kevin — or "other people that are very good, too," in Trump's words — assumes the role when Powell's term ends in May 2026 (or is truncated earlier, depending on Trump's moves), they would have to help prop up an economy that seems to be slowing, as indicated by July's startling jobs report and ISM Services index. Semiconductor tariffs in the works. In an interview with CNBC, Trump said he will announce new tariffs on semiconductors as soon as next week. He also said he'd impose a "small tariff" on pharmaceuticals before raising it to as high as 250%. Trump has four candidates for Fed chair. While the president didn't reveal their identities, he said Treasury Secretary Scott Bessent has taken himself out of consideration. Major U.S. stock indexes pull back. Stocks retreated Tuesday on ISM data that indicated the services sector nearly shrank in July. The pan-European Stoxx 600 index added 0.15%, but European semiconductor stocks fell on Trump's tariff comment. AMD's earnings fall short of expectations. That's despite the chipmaker reporting second-quarter revenue that beat Wall Street estimates. Shares of Advanced Micro Devices lost more than 6% in extended trading. [PRO] Topping expectations might not be enough. Even though the S&P 500 is on track for second-quarter earnings growth of almost double digits, compared with a year earlier, investors are giving a muted response, according to Goldman Sachs. Russia's economy 'stinks,' Trump says, and lower oil prices will stop its warmachine The rift between Moscow and Washington looks set to deepen. "Putin will stop killing people if you get energy down another $10 a barrel. He's going to have no choice because his economy stinks," Trump, told CNBC's "Squawk Box" on Tuesday. The comments come after relations between Moscow and Washington, which remained cordial at the start of Trump's second term in office despite the ongoing war, soured in recent weeks.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store