Joanna Plucinska

Latvia's airBaltic voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in New York, it said on Monday, as it seeks to restructure its debt ​pile and survive a deepening sector-wide crisis brought on by the Iran war.

AirBaltic is in talks with labour unions to come to ​an agreement on an "adjustment in the workforce," Chief Executive Erno ‌Hilden told Reuters on Monday after the Latvian carrier announced it was voluntarily entering Chapter 11 bankruptcy proceedings.

Flights at major British airports were disrupted on Tuesday by a technical fault at air traffic ​control provider NATS, the latest in a series of failures that renewed questions about the resilience of Britain's aviation infrastructure.

TUI , Europe's largest travel company, missed third-quarter operating profit forecasts ‌but avoided issuing another warning on Wednesday as bookings continued to fall and jet fuel prices remained high due to the Iran war.

Chinese titanium suppliers used the Farnborough Airshow this week to court aerospace customers, betting tight global supplies ‌of the critical metal would outweigh concerns over U.S. tariffs.

The European ​Union is preparing a review of airline ownership rules to prevent foreign investors from gaining effective control of carriers, an EU official said, a move that ‌could complicate U.S. bids for low-cost airline easyJet .

Airline executives on Monday cautioned planemakers Boeing and Airbus not to rush out a new ​generation of commercial jets without ensuring their technology is mature enough.

As renewed conflict in the Gulf drives up oil prices, airline investors and industry executives see mounting signs that Europe's financially ​weaker carriers may be headed for a shakeout.

Drone incursions disrupting airports in Europe and strikes on oil fields in the Middle East are spurring a fast-growing market for radars, jammers and defensive craft to defend airports and infrastructure ​against new aerial threats.

Centre stage at last week's Berlin airshow was the "wingman" ‌drone, Europe's latest-generation defence weapon designed to accompany fighter jets.