
Indonesia’s rupiah falls to record low against US dollar
Indonesia's rupiah falls to a record low of 18,028 against the US dollar amid rising energy costs.

Air Canada is temporarily suspending flights from Toronto and Montreal to New York's JFK airport due to rising fuel prices. The suspension starts on June 1 and is expected to last until October 25.
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Air Canada has announced a temporary suspension of flights from Toronto and Montreal to New York’s John F Kennedy airport, citing rising fuel prices.
The move comes amid growing concerns that airlines worldwide may scale back services as aviation fuel costs climb in the wake of the US and Israel’s ongoing war with Iran, which entered a fragile ceasefire earlier in April. Although Iran announced on Friday that the strait of Hormuz had reopened, helping ease oil prices, fuel costs remain significantly elevated after weeks of disruption.
“Jet fuel prices have doubled since the start of the Iran conflict, affecting some lower profitability routes and flights which now are no longer economically feasible,” Air Canada said in a statement on Friday. “Schedule adjustments including some frequency reductions are being made in response.”
The airline said flights from two of Canada’s major cities will be paused starting 1 June, with service expected to resume on 25 October.
The affected routes include one flight from Montreal and three from Toronto, the Canadian Broadcasting Corporation (CBC) reported, citing an Air Canada spokesperson.
“Any affected customers will be contacted with alternate travel options,” an airline spokesperson said, referring to New York’s LaGuardia airport and New Jersey’s Newark Liberty international airport. The spokesperson said Air Canada will continue flying to the LaGuardia and Newark airports “34 times daily from six cities across Canada”.
Other temporary suspensions from the airline include a Salt Lake City-Toronto route, which will be halted starting 30 June with plans to resume in 2027, as well as a delay to the launch of a service from Guadalajara, Mexico, to Montreal.
The airline said it anticipates the changes will affect 1% of its overall passenger-carrying capacity.
Since the US and Israel’s war with Iran began in late February, airlines have warned that rising fuel costs were beginning to weigh on bookings. The British budget airline easyJet recently said it expects a pre-tax loss of £540m-£560m for the six-month period ending in March.
Air Canada is suspending flights due to rising jet fuel prices, which have doubled since the start of the Iran conflict.
The flights are expected to resume on October 25, after being suspended starting June 1.
The affected routes include one flight from Montreal and three flights from Toronto to New York's JFK airport.

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Australia’s flagship carrier Qantas and Virgin Australia, meanwhile, have announced ticket price increases and reductions in flight frequency.
The International Energy Agency (IEA) also warned recently that Europe has only six weeks of jet fuel reserves remaining before shortages could hit. Fatih Birol, the executive director of the IEA, attributed that to ongoing Middle East instability, adding that flight cancellations will “soon” follow if oil supplies from the region are not restored in the coming weeks.