The European aviation industry was jolted by an unusual spate of bomb threats in the past two days, with planes carrying hundreds of passengers being diverted to airports under the watch of fighter jets. No explosives were found.

Ryanair Holdings Plc will embark on a cost purge to help offset a €2 billion ($2.2 billion) increase in fuel charges next year, as the Middle East conflict continues to drive up oil prices and weighs on consumer willingness to book flights.

European airlines and regulators can only do so much to deter cockpit attacks like the one during a recent FlyDubai flight, and the aviation industry must accept there’s “no absolute safety and security” even with stringent vetting of pilots.

British Airways will introduce what it called the world’s biggest business class on its upgraded double-decker Airbus SE A380 jets, targeting premium passengers as airlines rush to cash in on upscale travel.

Air Baltic Corp AS expects its restructuring plan to affect between 500 and 700 jobs across the carrier’s three biggest bases as the Latvian airline streamlines the business while undergoing Chapter 11 bankruptcy protection.

Air Baltic Corp AS passengers will no longer able to reach for the barf bag or toilet hand sanitizer under cost-cutting measures proposed by the Latvian carrier while it seeks Chapter 11 bankruptcy protection.

Ryanair Holdings Plc will keep cutting flight frequencies to avoid exposure to unhedged fuel prices during the slow winter months, or shift capacity to markets with lower fees such as Italy and Scandinavia.

The Exploration Company Gmbh has raised $450 million in funding to help boost the development of Europe’s first reusable space capsule and a new rocket engine, which the SpaceX rival has said would be the largest in the region.

EasyJet Plc said customers are becoming more confident to book longer in advance again after resorting to last-minute purchases out of concern of cancelations, helping the low-cost carrier improve predictability and steady operations.

EasyJet Plc shares fell the most in four years on Wednesday after Reuters reported that the European Union is preparing to review airline ownership rules that it said might affect takeover bids for the low-cost carrier by two US investment firms.

EasyJet Plc received an offer from private equity firm Apollo Global Management for 715 pence a share that beats a rival proposal from Castlelake LP, a surprise twist in the takeover saga that sets up a possible bidding war between the two US investment funds.

EasyJet Plc stock traded well below Castlelake LP’s latest takeover bid, signaling investors remain concerned about the potential barriers facing the £5 billion-plus deal.

Airport ground-services provider Menzies Aviation Ltd. expects jet fuel costs to stay high for several more months because of fallout from the Iran war.

Ryanair Holdings Plc. is facing a consumer investigation over fees that parents have to pay to sit next to their children.

Wizz Air Holdings Plc said the Iran conflict shaved €50 million from earnings in its fiscal full year, almost wiping out profit in the period, while vowing to take advantage of market dislocations to push for growth.

EasyJet Plc called the overture by investment firm Castlelake LP “highly opportunistic” given its depressed stock price and cautioned that a takeover of the UK carrier would be fraught with risk.

The Royal International Air Tattoo at RAF Fairford, the UK’s biggest military air show, has been canceled this summer because US aircraft are using the venue for missions related to the Iran war, which continues to have wide-ranging impacts.

Ryanair Holdings Plc Chief Executive Officer Michael O’Leary said there will be corporate “casualties” among European airlines if the Iran war continues and the Strait of Hormuz remains restricted.

The Iran war has squeezed global supplies of jet fuel, threatening to upend vacation plans as the peak summer travel season approaches in the Northern Hemisphere.

British Airways parent IAG SA said the fuel-cost surge stemming from the Iran conflict has created an opportunity to snap up struggling rivals, highlighting how the crisis has split the aviation industry into those on the hunt and others vulnerable of going under.