Business
Flight disruptions from shutdown pile up as Trump threatens air traffic controllers
Flight timings and cancellations are displayed on the departures board, a month into the ongoing U.S. government shutdown, at Ronald Reagan Washington National Airport in Arlington, Virginia, U.S., November 9, 2025.
Annabelle Gordon | Reuters
Flight cancellations were again piling up on Monday as air traffic controller shortages, worsened by the longest-ever U.S. government shutdown, snarled air travel coast to coast while President Donald Trump threatened to dock air traffic controllers’ pay if they are absent from work.
On Monday, 2,079 of the 25,735 scheduled U.S. flights were canceled, just over 8% of the day’s schedule, according to aviation-data firm Cirium, which noted that on-time departures were better than average, though bad weather impacted airline operations as well.
Last week, the Trump administration ordered airlines to cut domestic flights at 40 major U.S. airports starting with 4% reductions last Friday and ramping up to 10% by this coming Friday, Nov. 14, citing strains on air traffic controllers.
“All Air Traffic Controllers must get back to work, NOW!!!,” Trump said in a post on Truth Social, adding that he would recommend $10,000 bonuses for any air traffic controllers who didn’t take any time off during the shutdown. He said those who don’t immediately return to work would be “docked.”
The National Air Traffic Controllers Association in response said that air traffic controllers are “unsung heroes, who report for duty to safely guide this country’s passengers and cargo to their destinations.” The organization said they “deserve our praise” and “have certainly earned it.”
Disruptions over the weekend included 18,576 delayed flights while 4,519 were canceled, according to FlightAware. Cancellations spilled over from regional, short-haul jets — which the largest U.S. airlines rely on for around half of domestic flights — to mainline flying.
United Airlines and Delta Air Lines were each offering flight attendants extra pay to pick up flights, according to company messages seen by CNBC. United was also offering pilots extra pay for more flights than it usually does, an airline spokesman said. Such extra pay is common during storms or other disruptions.
American Airlines Chief Operating Officer David Seymour said Monday that 250,000 of its customers were affected by disruptions over the weekend, with 1,400 cancellations attributed to air traffic control.
“This is simply unacceptable, and everyone deserves better. Our air traffic controllers deserve to be paid and our airline needs to be able to operate at a level of predictability and dependability that no major airline was able to provide the flying public this weekend,” he said in a note to staff that was seen by CNBC.
Airlines were waiving change fees and in some cases, fare differences, depending on when customers could rebook travel. Customers could also request a full refund for the portion of their tickets they were unable to fly.
A sign of how severe air travel disruptions have become during the government shutdown: Sunday’s 2,631 U.S. flight cancellations, 10% of the day’s schedule, marked the fourth-worst day since January 2024, Cirium said.
In comparison, on Friday morning, as Trump administration-mandated flight cuts took effect, cancellations ranked 72nd since the start of last year.
The disruptions that upended the travel plans for hundreds of thousands of travelers forced them to look for alternative transportation. Car rental company Hertz last week reported an increase in one-way demand. There’s also been increased demand for private jet flights in recent days, according to the CEO of charter and fractional ownership company Flexjet.
Though the Trump administration order didn’t initially require private aviation to cut in the same way as commercial airlines, the Federal Aviation Administration on Monday began limiting those flights at a dozen U.S. airports. However, many private jet operators don’t use the busiest commercial airports, said the National Business Aviation Association.
Increased strain
Air traffic controllers missed their second paycheck of the shutdown on Monday, though they are still required to work. Some of them have taken second jobs to make ends meet, government and union officials have said.
A commercial airliner takes off past the air traffic control tower at San Diego International Airport during the first day of a partial U.S. government shutdown in San Diego, California, U.S., Oct. 1, 2025.
Mike Blake | Reuters
“Now, they must focus on child care instead of traffic flows. Food for their families instead of runway separation,” Nick Daniels, president of the National Air Traffic Controllers Association, said at a news conference on Monday. “The added stress leads to fatigue, the fatigue has led to the erosion of safety and the increased risk every day that this shutdown drags on.”
The Senate made progress overnight on a deal that could end the shutdown, but it has not yet approved a funding bill.
Daniels said it isn’t yet clear how long it would take for controllers to receive back pay for their work. In the shutdown that ended in 2019, it took about 2½ months before the workers were made whole, he said.
Trump’s comments about air traffic controllers on Monday drew criticism from Rep. Rick Larsen, D-Wash., ranking member of the House Committee on Transportation and Infrastructure, who called the statement “nuts!” and said it ran counter to Transportation Secretary Sean Duffy’s call for aviation workers’ support.
“The women and men working long hours in air traffic control towers to keep the aviation system running deserve our thanks and appreciation, not unhinged attacks on their patriotism,” Larsen said.
An end to the shutdown also doesn’t mean that the flight restrictions will be lifted immediately. The FAA last week said it will determine whether to increase or decrease the flight restrictions based on safety data.
While airlines had little time to make the last-minute schedule changes when the order came out last week, to ramp up flying again they will need time to adjust schedules, sell seats and position planes and crews.
“Airlines’ reduced flight schedules cannot immediately bounce back to full capacity right after the government reopens. It will take time, and there will be residual effects for days,” Airlines for America, the lobbyist for the country’s biggest airlines, said in a statement late Monday. “With the Thanksgiving travel period beginning next week and the busy shipping season around the corner, the time to act is now to help mitigate any further impacts to Americans.”
Business
Revised Vs Belated ITR: What To Do If Your Tax Refund Is On Hold
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Taxpayers facing refund holds due to mismatches must act before December 31.
Knowing revised and belated ITRs can help avoid penalties. (representative image)
The Income Tax Department has recently sent messages and emails to many taxpayers saying their refunds are on hold. The reason given is a mismatch in the income tax return (ITR) details. In these alerts, taxpayers have been asked to take action before December 31, this year, to fix the issue.
This has caused confusion, especially among those who believed they had filed their returns correctly. The department has also stepped up checks on cases where it feels excess refunds may have been claimed. As a result, many taxpayers are now unsure about the right way to respond.
In its email, the department reportedly stated, “As the time limit for filing of revised ITR for A.Y. 2025-26 will expire on 31 December 2025, you are requested to avail this opportunity to file Revised Return within the due date if so required. Alternatively, you may file an updated return w.e.f. 1 January 2026, however, subject to an additional tax liability.”
With the deadline nearing, it is important to understand the options available after the original ITR due date has passed.
What Is A Revised ITR?
A revised ITR allows taxpayers to fix mistakes made in the original return. These errors could include missing income details, wrong deductions, calculation errors, or choosing the wrong ITR form. Under Section 139(5) of the Income Tax Act, 1961, taxpayers can submit a revised return to correct such issues.
A revised ITR can also be filed if the refund amount needs to be increased or reduced based on corrected information.
What Is A Belated ITR?
A belated ITR is filed when a taxpayer misses the original filing deadline. As per Section 139(1) of the Income Tax Act, this return can be submitted until December 31 of the assessment year. However, filing late usually means paying a penalty.
Taxpayers who miss the deadline are advised to file a belated return instead of not filing at all, as non-filing can lead to further trouble.
Why File A Revised ITR?
A revised return is useful when the original ITR has errors. These may include underreported or overstated income, wrong deductions, incorrect refund claims, or other filing mistakes.
As quoted by Livemint, CA, Shefali Mundra, tax expert at ClearTax, says, “There is no penalty for filing a revised return within the prescribed timeframe.”
Revised ITR vs Belated ITR Explained
“A revised return is filed to correct errors or omissions in a previously filed return (either original or belated). It can be filed before 31 December of the relevant assessment year or before the department completes the assessment. The revised return is linked to the original filing, and the taxpayer can make corrections without any penalties, apart from paying any additional taxes and interest,” CA Mundra told Livemint.
She added that a belated ITR is treated differently.
“A belated return is filed after the original due date for submitting the return, which is typically 31 July for individual taxpayers. A belated return is still considered an original return, and it is subject to a late filing fee under Section 234F (up to Rs 5,000, depending on the income) and interest on unpaid tax. Additionally, certain benefits, such as carrying forward losses, may not be available when filing a belated return,” CA Mundra also stated.
Delhi, India, India
December 27, 2025, 10:31 IST
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Business
Critical Illness Claim Rejected? Here’s How You Can Fight Back
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A rejected critical illness claim may not be the final word if the policy clearly covers the condition.
Policyholders can successfully challenge unfair decisions.(Representative Image)
A policyholder recently faced trouble after his/her spouse was diagnosed with a serious brain-related illness. The condition was identified as bacterial meningitis with encephalitis. Believing the illness was covered, the family filed a critical illness claim with their insurer.
However, the insurance company turned down the request. The reason given was that the illness did not fall under the list of covered conditions. This left the family confused and unsure about the next step, especially at a time when medical stress and costs were already high.
Why A Rejected Claim May Still Be Valid
A claim rejection does not always mean the insurer is right. The first step is to read the policy document carefully. Most critical illness plans clearly list the illnesses they cover. In many policies, bacterial meningitis is included, but only if certain medical conditions are met.
In a similar case, a close review of the policy showed that the illness was listed among 32 covered conditions. The medical records also clearly confirmed the diagnosis and seriousness of the disease. When both the policy terms and medical proof match, the rejection can be questioned.
How To Raise The Issue With The Insurer
The next step is to approach the insurer’s grievance team. This means sending a clear written request that explains why the claim should be accepted. It is important to point out the exact policy clauses and attach all medical reports.
In the case mentioned, the policyholder shared hospital records, diagnosis details, and proof of treatment. Despite this, the insurer stuck to its earlier decision and did not provide any new explanation. This is when many people give up, but there is still another option available.
When The Insurance Ombudsman Can Help
If the insurer does not resolve the issue, the policyholder can approach the insurance ombudsman. Filing a complaint here does not cost anything. The ombudsman reviews both the policy terms and the medical evidence.
During the hearing in this case, the policyholder submitted hospital documents and a doctor’s certificate. The records confirmed that the patient had a lasting brain-related problem for over six weeks, which is an important requirement in many critical illness policies. The insurer failed to provide proof to challenge these findings.
What This Case Teaches Policyholders
After reviewing all details, the ombudsman ruled in favour of the policyholder and asked the insurer to pay the claim amount to the nominee. This shows that unfair claim rejections can be overturned if the policy terms are clear and the documents are in order.
It is always wise to read your policy closely, keep complete medical records, and use the grievance and ombudsman process when needed. Many rejected claims can be resolved because the facts and the policy are on the customer’s side.
December 27, 2025, 09:33 IST
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Business
India’s Forex Reserves Surge $4.36 Billion To $693 Billion, Gold Holding Rises $2.6 Billion
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India’s Latest Forex Reserves: The value of the gold reserves jumps $2.623 billion to $110.365 billion during the week ended December 19.
India’s Latest Forex Reserves.
India’s foreign exchange (forex) reserves surged $4.368 billion to $693.318 billion during the week ended December 19, according to the latest data from the Reserve Bank of India (RBI). The value of the gold reserves jumped $2.623 billion to $110.365 billion during the week.
The overall kitty had increased by $1.689 billion to $688.949 billion in the previous week.
For the week ended December 19, foreign currency assets, a major component of the reserves, increased by $1.641 billion to $559.428 billion, according to the Reserve Bank of India’s latest ‘Weekly Statistical Supplement’ data.
Expressed in dollar terms, the foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves.
The special drawing rights (SDRs) were up by $8 million to $18.744 billion.
India’s reserve position with the IMF was up by $95 million to $4.782 billion in the week, according to the RBI data.
The price of the safe-haven asset gold has been on a sharp uptrend over recent months, perhaps amid heightened global uncertainties and robust investment demand.
After the last monetary policy review meeting, the RBI had said that the country’s foreign exchange reserves were sufficient to cover more than 11 months of merchandise imports. Overall, India’s external sector remains resilient, and the RBI is confident it can comfortably meet external financing requirements.
In 2023, India added around $58 billion to its foreign exchange reserves, contrasting with a cumulative decline of $71 billion in 2022. In 2024, reserves rose by just over $20 billion. So far in 2025, the forex kitty has increased by about $47-48 billion, according to data.
Foreign exchange reserves, or FX reserves, are assets held by a nation’s central bank or monetary authority, primarily in reserve currencies such as the US dollar, with smaller portions in the Euro, Japanese Yen, and Pound Sterling.
December 27, 2025, 08:17 IST
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