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Will airfares come down this year? Yes, but just slightly say reports

The airline industry’s dramatic climb from the depths of the pandemic may be ending soon. A review of multiple reports shows stabilization across several key metrics, as rapid growth ends and a new era of normalcy begins. “2024 is expected to mark the end of the dramatic year-on-year increases that have been characteristic of the recovery in 2021-2023,” a December report by the International Air Transport Association said. Global flight capacity is expected to be restored, with some 40 million flights (up from 38.9 million in 2019) projected to carry a record 4.7 billion people (up from 4.5 billion people in 2019), according to…

ADX to share costs for imminent Welchau well drilling

MCF Energy, ADX’s joint venture partner in the Welchau Investment Area in in Upper Austria, has agreed to pay half of the now €5.1 million (AU$8.3 million) cost of drilling the Welchau-1 exploration well. The amended deal will earn MCF a 25 per cent interest in the area that contains the massive 807 billion cubic feet Welchau gas prospect, which is set for imminent testing by the drill bit. The Welchau-1 well work had previously been budgeted at €3.8 million (AU$6.19 million), but ADX says additional permitting costs to secure an environmental clearance and additional pre-drill costs, including the drilling of a shallow…

How would YOU fix the housing market? We ask Aneisha Beveridge of Hamptons

How would YOU fix the housing market? We ask Aneisha Beveridge of Hamptons House prices are unaffordable for many and rents are up 32% in three years Big housebuilders are on course to build 30-40% fewer homes than a year ago Each week we ask an expert to explain the crisis and offer their solutions By Ed Magnus Updated: 01:00 EST, 9 January 2024 e-mail View comments Whether it's unaffordable house prices , higher mortgage rates , soaring rents or increased levels of homelessness, the housing market appears to be stuck in a never-ending crisis. There remains an insatiable appetite to buy property. Many of those who don't own aspire…

Alcoa Kwinana alumina refinery shutdown will lead to hundreds of job cuts in…

The federal resources minister, Madeleine King, says she is “extremely disappointed” at the closure of a major alumina refinery in her electorate, with about 800 job losses expected, as the opposition criticises the government over what it has labelled “an embarrassing failure” on industry policy. US alumina giant Alcoa announced on Tuesday it would close its 60-year-old refinery south of Perth, where hundreds of workers were expected to lose their jobs. The company said in a statement that it would shortly begin a “phased reduction” of its workforce, slashing numbers from about 800 employees to approximately 250 in the third…

Pre-Christmas spending marked the biggest bargain hunt in two years

Households shook off their financial woes to go on the biggest pre-Christmas spending spree in two years, lured by Black Friday sales and other discounts. Defying the pressure from surging living costs and high interest rates, shoppers splurged on toys, appliances, clothes, electronics and cosmetics in November, including an extra 7.5 per cent on household goods and a 4.2 per cent increase in department store purchases. Food sales were up just 0.4 per cent. The value of retail turnover rose 2 per cent to reach $36.5 billion, the biggest monthly jump since November 2021, according to the Australian Bureau of Statistics. Spending in…