After 40+ years of declining cigarette sales and graphic public health warnings about the damage that smoking causes, it might be easy to think of big tobacco as a frail industry on its deathbed — it's anything but. In fact, even in the wake of falling sales, Altria has eked out record earnings over the last decade. The $12-13bn that it has presumably lost on the Juul deal is an enormous sum... but it's one that Altria can — quite easily — afford. It's racked up operating income of more than $10bn for the last 3 years in a row. Big tobacco is still just that... big.
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Delta to increase bag fees by $10 on domestic flights this week, following JetBlue and United, as jet fuel surges
As the price of jet fuel surges amid the war in Iran, Delta Air Lines on Tuesday announced that it will hike its checked bag fees by $10 beginning this week.
Checking one bag on a domestic Delta flight will now cost $45, up from $35. A second bag will cost $55, up from $45, and a third will cost $200, up from $150. In a statement to Sherwood News, Delta issued the following announcement:
“For tickets purchased on or after April 8, Delta will increase fees for first and second checked bags by $10 and for a third checked bag by $50 on domestic and select short-haul international routes. These updates are part of Delta’s ongoing review of pricing across its business and reflect the impact of evolving global conditions and industry dynamics. Delta SkyMiles Medallion Members; customers traveling in First Class, Delta Premium Select and Delta One; active-duty military customers; and those with eligible co-branded Delta SkyMiles American Express Cards will continue to receive their allotment of complimentary checked bags.”
The move follows similar hikes by JetBlue and United Airlines last week. More are likely to come: when one major airline adjusts its fees, others tend to follow quickly behind. Delta last raised its bag fees in 2024, along with other major airlines.
Jet fuel prices were $4.69 a gallon on Monday, per the Argus US Jet Fuel Index. That’s up from the low $2 range for much of January.
Paramount reportedly receives $24 billion from Gulf funds to back its Warner Bros. takeover
Three Middle East sovereign wealth funds have agreed to back Paramount’s takeover of Warner Bros. Discovery to the tune of roughly $24 billion, according to Wall Street Journal reporting.
The company’s triumph over Netflix in the bidding war came thanks in part to financial backing from Oracle cofounder Larry Ellison, billionaire father of Paramount CEO David Ellison.
Saudi Arabia’s PIF, which last year led the $55 billion deal to take Electronic Arts private, will provide about $10 billion in the deal. The Qatar Investment Authority and Abu Dhabi’s L’imad Holding Co. is also involved.
According to the WSJ, the funds will not receive voting rights in the combined Paramount-Warner company. Those working on the deal don’t expect the Gulf funds’ involvement to spark any additional regulatory reviews.
The company’s triumph over Netflix in the bidding war came thanks in part to financial backing from Oracle cofounder Larry Ellison, billionaire father of Paramount CEO David Ellison.
Saudi Arabia’s PIF, which last year led the $55 billion deal to take Electronic Arts private, will provide about $10 billion in the deal. The Qatar Investment Authority and Abu Dhabi’s L’imad Holding Co. is also involved.
According to the WSJ, the funds will not receive voting rights in the combined Paramount-Warner company. Those working on the deal don’t expect the Gulf funds’ involvement to spark any additional regulatory reviews.
Allbirds, the once buzzy multibillion-dollar sneaker startup, is selling up for $39 million
That’s less than 1% of its peak market cap about four years ago.
Tom Jones3/31/26
JetBlue is raising its bag fees as fuel costs squeeze airlines
JetBlue will reportedly hike its bag fees, as the cost of jet fuel continues to climb amid the war in Iran. It’s the latest example of carriers finding ways to push rising costs onto travelers.
Last week, United Airlines CEO Scott Kirby said that if fuel prices remain elevated, fares would need to rise another 20% for his airline to break even this year.
As CNBC reported, when one airline raises fees, others tend to follow.
Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.
Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.
JetBlue did not immediately respond to a request for comment.
As CNBC reported, when one airline raises fees, others tend to follow.
Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.
Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.
JetBlue did not immediately respond to a request for comment.
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