Heathrow shutdown is a ‘dramatic learning curve’ in airport crisis management, expert says
The closure of London’s Heathrow Airport due to a nearby fire on Friday has put the focus on the aviation industry’s ability to handle a crisis, according to a travel industry expert.
At the time of writing, Heathrow remained shut after a fire at an electricity substation that caused a power outage on Friday.
“The growth of the [aviation] industry is happening faster than the growth of infrastructure,” said Anita Mendiratta, founder of consultancy AM&A, who stressed that aviation needs to become more resilient to incidents like an energy supply disruption, or to geopolitical or weather events.
The Heathrow outage is “putting a spotlight on the need to make sure that the entire network of energy supply for any … airport around the world has sufficient capability to address a crisis,” Mendiratta told CNBC’s “Squawk Box Europe” on Friday. “All of this is a very dramatic learning curve.”
A back-up generator was also affected by the blaze, raising questions over the resilience of the supporting energy infrastructure, according to U.K. energy minister Ed Miliband, while Willie Walsh, director general of the International Air Transport Association (IATA) described Heathrow’s reliance on a “single” power source as a “clear planning failure” by the airport.
In an emailed statement, Heathrow said it has multiple sources of energy. “Our back up systems are safety systems which allow us to land aircraft and evacuate passengers safely, but they are not designed to allow us to run a full operation,” Heathrow said.
Broader impact
Mendiratta said the Heathrow incident would have have a ripple effect for aviation that goes far beyond flight cancelations. She described the implications of the Heathrow incident as “very wide,” as the growth of aviation is outpacing the increase in supporting infrastructure, she said.
Mendiratta described the growth of aviation globally as “massive.”
“It is extreme in terms of how it has grown far beyond even 2019 rates,” she said. This raises questions over the industry’s resilience to unplanned weather or geopolitical events and whether the surrounding infrastructure can support it.
Globally, both domestic and international air passenger traffic surpassed pre-Covid-19 levels in early 2024, according to IATA, and passenger numbers are expected to increase by an average of 3.8% annually to 2043, compared to 2023.
“Even though much of the focus of the story is very much on Heathrow and passengers, what we also need to take into account is over and above passenger traffic, over 4,000 tons of cargo go through Heathrow every single day,” Mendiratta added.
Heathrow Airport handled a record 83.9 million passengers in 2024 — up nearly 6% on the year prior — while its cargo transportation increased by 10%.
Whether passengers can get compensation for canceled flights depends on their airlines’ terms, Mendiratta said. As the Heathrow fire appears to be outside of airlines’ control, such reimbursement may not be payable, according to a note issued by Citi on Friday.
Investors will consider short-term costs such as food and beverage, accommodation, alternative flights or land transport for passengers affected by cancelations, Mendiratta flagged, as well as looking at how airlines manage customer care in the long term.
“That, ultimately, is going to be the basis of customer retention, which from an investor point of view is going to be very important … it’s a significant calculation,” she said.
Future of aviation
A third runway at Heathrow Airport has long been mooted, with its CEO putting pressure on the U.K. government to make a decision on the controversial expansion by the end of the year. British Finance Minister Rachel Reeves said the extra runway was “badly needed” in a January speech.
Meanwhile the aviation industry is pushing forward with sustainable aviation fuel deals to help meet decarbonization targets.
“As we shift into the future and look at sustainable aviation, this is where infrastructure can now look at green technologies, which are vital to enable aviation to continue to grow, but grow in a healthy way,” Mendiratta said.
— CNBC’s Jenni Reid contributed to this report.
Environment
After a college football career and 2 failed House races, Bo Hines is helping steer U.S. crypto policy
U.S. President Donald Trump speaks as Crypto czar David Sacks, U.S. Treasury Secretary Scott Bessent, U.S. Commerce Secretary Howard Lutnick, and Executive Director of the Presidential Council of Advisers for Digital Assets Bo Hines attend the White House Crypto Summit at the White House in Washington, D.C., U.S., March 7, 2025.
Evelyn Hockstein | Reuters
Bo Hines has no professional background in crypto. He earned his law degree three years ago from Wake Forest. He’s twice unsuccessfully run for Congress in North Carolina.
Now the 29-year-old former football player is wrapping up his second month as one of the leaders of President Donald Trump’s crypto agenda.
“We’re well on our way in delivering on the President’s promise to welcome in the golden age for digital assets,” Hines told CNBC in an interview this week. “And make the United States the crypto capital of the planet.”
Hines is repeating a high-level message Trump has been uttering since the waning months of his campaign last year, when he became the crypto industry’s clear choice to run the country. Hines is working under former venture capitalist David Sacks, who Trump tapped to be the first White House AI and crypto czar.
Hines said he and Sacks are working “hand in glove” to not only rewire crypto regulation, but to do it quickly.
“The president’s given us the authority to do that,” Hines said. “He trusts his advisors.”
Hines played wide receiver for North Carolina State’s football team, and has said his interest in digital assets began as far back as 2014, when he played in the BitPay-sponsored Bitcoin St. Petersburg Bowl. N.C. State beat the University of Central Florida by a touchdown in the game, and Hines caught three passes.
Hines went to Wake Forest to pursue a law degree. He explored regulatory issues related to crypto and became a retail investor. He then turned his attention to public office, losing campaigns for Congress in 2022 and 2024.
But along the way, in the 2022 primary, Hines won the endorsement of Trump, who called the candidate a “proven winner both on and off the field” in a news release from his Save America PAC.
In late 2024, Hines was tapped by President Trump to lead his Council of Advisers on Digital Assets. Now, he’s tasked with helping steer national crypto strategy, under Sacks, with a promise to “move at tech speed.”
Hines said much of the group’s early work has focused on dismantling what industry insiders call “Operation Choke Point 2.0.” It’s how they refer to an alleged crackdown by legacy banks on digital asset firms.
“They were victims of lawfare for the last four years,” Hines said, referring to the Biden administration. “These are people that are doing nothing but helping our American economy grow.”
On March 24, the group will hit its 60-day milestone — and deliver its first set of recommendations. Though Hines was light on specifics, he previewed a range of ideas under consideration, from proposals to scrap and rewrite outdated IRS rules to building up a “Strategic Bitcoin Reserve” through “budget-neutral” purchases.
“We view bitcoin as digital gold,” he said. “We want as much of it as we can possibly have for the American people,” he said. “And it’s not going to cost the taxpayer a dime.”
Hines floated one idea from the Bitcoin Act introduced by Sen. Cynthia Lummis, R-Wyo., which involves using the unrealized value of U.S. gold reserves to acquire crypto.
“There’s a bunch of creative ways we could get into,” he said.
Hines added that, like Sacks, he’s fully divested from crypto, though he declined to say whether others in the working group would follow suit.
“I can only speak for our office,” he said.
However, Hines said he’s not concerned about Trump’s own crypto-related financial entanglements, which could pose very obvious conflicts of interest. Trump and his family have launched several memecoins, digital collectibles, and a yet-to-be-launched crypto bank.
“He engaged with those assets before he took office,” Hines said. The Trump memecoin was introduced during inauguration weekend. “He’s an American citizen. He has a right to engage in any market that he wants to.”
Hines lauded SEC Commissioner Hester Peirce, who was tapped to lead a new crypto task force, as well as leadership at the Commodities Futures Trading Commission. Regulators are already “on the ground making changes,” from throwing out lawsuits to rewriting enforcement rules, he said.
He’s also watching Congress, where a bipartisan Senate committee recently advanced stablecoin legislation, a move Hines called “monumental.”
“Stablecoins could usher in U.S. dollar dominance for decades to come,” he said. “It could alter the course of the way our financial markets work.”
WATCH: David Sacks on bringing people from tech industry to Washington
The limited-edition Gold Matte IONIQ 5 Disney100 Platinum Edition is Hyundai’s first vehicle designed with Walt Disney Imagineering. You know, the creative forces behind the Disney movies, stories, characters, and theme parks. With a new secret discount, Hyundai’s limited-edition IONIQ 5 is a steal, but getting your hands on one might be tricky.
Hyundai’s limited-edition IONIQ 5 goes on clearance
Hyundai launched the special edition IONIQ 5 last year to celebrate Disney’s 100th anniversary. The electric SUV arrived with a Gravity Gold Matte exterior color, exclusive Disney100 wheels, and branding.
The interior features a two-tone (terra brown and mud gray) color scheme with Disney100 logos on the front seat headrests, center console, and floormats. Oh, and don’t forget the Disney-themed intro that plays on the center screen when you turn the car on. It even plays those classic Disney tunes we’ve grown to love.
Hyundai said production of the Disney-themed electric SUV would be “extremely limited,” with just 1,000 vehicles available for purchase.
A little over a year later, Hyundai’s limited-edition IONIQ 5 is actually a pretty good deal. But that’s if you can find one.
According to CarsDirect, Hyundai launched a “secret” new $2,500 dealer cash incentive earlier this month. It’s considered a secret because the offer isn’t advertised, and the dealership can choose to keep it.
The $2,500 is on top of the $10,000 discount Hyundai introduced last March, only a few months after the special edition IONIQ 5 hit the market.
Hyundai is also promoting a 0% APR financing offer for 60 months or up to $7,500 in Bonus Cash. On a 36-month lease, CarsDirect estimates you can score up to $13,750 in discounts on Hyundai’s Disney-themed IONIQ 5 right now. With the dealer cash, savings could amount to over $16,000. The deal is only good until March 31.
The 2024 Hyundai D100 Platinum Edition starts at $59,400 and has a range of up to 260 miles. With $16,000 off, prices could drop to as low as $43,400, which is even cheaper than the SE trim ($45,850).
Hyunda’s limited-edition IONIQ 5 is part of the outgoing 2024 lineup. The 2025 Hyundai IONIQ 5 received several major upgrades, including more range (up to 318 miles), an interior and exterior refresh, and an NACS port for charging at Tesla Superchargers. With leases as low as $199 per month, the 2025 IONIQ 5 may be an even better option.
The base 2025 IONIQ 5 starts at $42,500 with up to 245 miles range, while the extended range version starts at $46,550.
| 2025 Hyundai IONIQ 5 Trim | EV Powertrain | Driving Range (miles) | Starting Price* |
| IONIQ 5 SE RWD Standard Range | 168-horsepower rear motor | 245 | $42,500 |
| IONIQ 5 SE RWD | 225-horsepower rear motor | 318 | $46,550 |
| IONIQ 5 SEL RWD | 225-horsepower rear motor | 318 | $49,500 |
| IONIQ 5 Limited RWD | 225-horsepower rear motor | 318 | $54,200 |
| IONIQ 5 SE Dual Motor AWD | 320-horsepower dual motor | 290 | $50,050 |
| IONIQ 5 SEL Dual Motor AWD | 320-horsepower dual motor | 290 | $53,000 |
| IONIQ 5 XRT Dual Motor AWD | 320 horsepower dual motor | 259 | $55,400 |
| IONIQ 5 Limited Dual Motor AWD | 320-horsepower dual motor | 269 | $58,100 |
Hyundai is also offering a free ChargePoint Level 2 Home Flex EV charger (or $400 public charging credit) right now if you buy or lease a 2024 or 2025 IONIQ 5.
Want to test out Hyundai’s electric SUV for yourself? We can help you get started. You can use our link to view offers on 2024 and 2025 Hyundai IONIQ 5 models at a dealer near you today.
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California now has 178,549 public and shared private EV chargers – hitting a major milestone with 48% more chargers statewide than gas nozzles.
Governor Gavin Newsom (D-CA), who made the announcement, said:
As the federal government works to make it harder for you to charge your electric car, California is doing the opposite. We now have nearly 50% more chargers than gas nozzles in the state, meaning you have more options than ever to charge your vehicle.
We’re embracing our clean car future and providing consumers more choices – no matter what ‘big government’ mandates come out of Washington.
The California Energy Commission (CEC) estimates about 120,000 gas nozzles in the state, compared to 178,000 public and shared private EV chargers.
That includes more than 162,000 Level 2 and nearly 17,000 DC fast chargers, and that doesn’t count the estimated 700,000-plus Level 2 chargers in single-family homes, according to the CEC.
The new charger totals released yesterday reflect the CEC’s improved data-tracking efforts, tapping into additional sources to get a clearer picture of operational chargers statewide. Of the 73,537 chargers added to the data set in 2024, nearly 38,000 are newly installed, while the other 35,554 were already plugged in before 2024 but just recently identified.
California approved a $1.4 billion investment plan in December to expand zero-emission transportation infrastructure. The plan funds projects like the Fast Charge California Project, which has earmarked $55 million of funding to install DC fast chargers at businesses and publicly accessible locations. The project is part of the California Electric Vehicle Infrastructure Project (CALeVIP), the US’s largest EV charging incentive initiative.
Read more: London is getting 570 ‘flat and flush’ sidewalk EV chargers
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