Japan Airlines remains more exposed to higher oil prices than ANA Holdings, with Jefferies lowering its fiscal-year EBIT estimate to 171.3 billion yen from Y184.9 billion, citing Brent crude near $100 a barrel due to U.S.-Iran tensions. Comfort Del Gro’s bus subsidiary is expected to see a 3% decline in 2027 operating profit despite a 7% Singapore fare hike, as fuel and electricity costs may not be fully offset. Carnival CEO Josh Weinstein said demand for cruises is strong and broad-based, with 2026 largely booked and 2027 already halfway booked at record occupancy and pricing; operational improvements have fully offset higher fuel costs, driving a 12% stock jump.

Volkswagen’s partnership with China’s Gotion High-Tech to produce lithium-battery cells in Spain and Slovakia and a cathode facility in Morocco reflects Europe’s strategy to selectively integrate Chinese tech rather than recreate capabilities independently.