Category: 3. Business

The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.

The previous close was 6.9830

PBOC injects 28.6bn yuan in open market operation reverse repos at an unchanged rate of 1.4%:

• after maturities today the PBoC has net drained 500.2 bn yuan

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Port of Seattle Executive Director Steve Metruck announced today that Wendy Reiter has been selected as the new Managing Director of Seattle-Tacoma International Airport (SEA), effective January 7, 2026. A veteran leader at SEA and longtime partner to key federal aviation agencies, Reiter currently leads Security, Fire, and Emergency Preparedness for SEA. Over the last 35 years she has held key management roles with airports and airlines in Seattle and in the Midwest.

“Wendy Reiter brings an exceptional combination of leadership, industry knowledge, and genuine commitment to the people who work at, live near, and rely upon SEA,” said Executive Director Steve Metruck. “Reiter will guide a leadership team tasked with completing our current Upgrade SEA program, in time for the FIFA World Cup. She will also be responsible for launching a new phase of development on our airport master plan and continuing to pursue excellence in our service and our facilities to ensure a safe and accessible travel experience for all.”

“The SEA community of workers, partners, and neighbors has been my highest priority for 20 years,” said Reiter. “We have a great responsibility to our community to meet the aviation demand in the region through excellent service, improved sustainability, and with an eye toward continually expanding opportunities equitably. Our leadership team and employees are ready to meet these challenges, and I am honored by the opportunity to lead SEA.”

Reiter steps into the role as SEA turns its efforts from upgrading existing facilities toward a vision for the future. She will lead a division of 1,200 direct employees. SEA is the 11th busiest airport in North America by passenger volume and among its best connected in terms of service. In its 2026 budget, the Commission authorized the Aviation Division 2026–2030 capital plan at $3.75 billion, with $847 million in spending expected in 2026.

As SEA returns to pre-pandemic record-breaking passenger volumes, achieving all of the Aviation Division’s goals requires strategic planning and strong coordination with partners and the community.

The airport is the Port of Seattle’s largest line of business, with hundreds of private employers with as many as 24,000 employees working at SEA. The airport supported nearly 175,000 regional jobs in 2023, worth $10.5 billion in wages and benefits and $33.3 billion in business output.

The Managing Director for SEA also plays a critical role in the community by representing the Port in community dialogue through groups, including as the chair for the SEA Stakeholder Advisory Round Table (START) and as a representative on the Highline Forum.

Contact

Perry Cooper | SEA Airport 
(206) 787-4923 | [email protected]  

Published today in Nature Communications Earth & Environment, the researchers analysed more than 27 million commercial flights in 2023, covering 26,000 city pairs and nearly 3.5 billion passengers. This revealed enormous variability in emissions efficiency, with some routes producing nearly 900 grams of CO₂ per kilometre for each paying passenger – almost 30 times higher than the most efficient, at around 30 grams of CO₂ per kilometre.

Our results clearly show that efficiency-focused policy could swiftly reduce aviation emissions by more than half, without reducing flight numbers or waiting for future fuels. These are tools that we can use right now.

Co-author Dr Milan Klöwer, Department of Physics, University of Oxford

Globally, average aviation emissions were 84.4 grams of CO₂ per kilometre for each paying passenger in 2023. But the study identifies three practical levers to reduce this figure: operating only the most fuel-efficient aircraft, removing premium-class seating to carry more passengers, and raising passenger loads to 95%.

Aircraft model alone was found to make a significant difference, with emissions ranging from 60–360 gram CO₂ per kilometre for each passenger. According to the analysis, replacing all aircraft with the most efficient models – the Boeing 787-9 (long-haul) and the Airbus A321neo (short and medium-haul) – would result in fuel savings of 25% to 28%.

Co-author Dr Milan Klöwer (Department of Physics, University of Oxford) said: ‘While economically and practically unfeasible to replace all older aircraft short term, this analysis shows the potential more efficient aircraft have in comparison to other efficiency gains. Realistically, this would be a long-term transition – one that could be promoted by policies that reward efficiency, so that the most efficient aircraft are favoured whenever replacement decisions are made.’

Seating configurations also matter, since business and first-class seats are up to 5 times more CO₂-intense than economy class seats. The researchers found that increasing passenger numbers to the maximum seating configuration for the most efficient aircraft would further reduce emissions by 22% to 57%.

In 2023, aircraft passenger occupancy ranged from 20% to 100%, with an average of 79%. According to the analysis, increasing average occupancy to 95% would further reduce emissions by 16%.

If these three measures were applied globally, the study estimates that emissions could be reduced by between 50% and 75% -though this full reduction would require systemic changes. Nevertheless, the analysis found that airlines could reduce emissions by around 11% right now by flying their most efficient aircraft on routes where they already operate.

Lead author Professor Stefan Gössling (Linnaeus University) said: ‘Efficiency-based policies have a great potential to curb aviation emissions, and can be in airlines’ own economic interest. But the reality is that many airlines continue to fly with old aircraft, low passenger occupancies, and growing proportions of premium-class seating.’

The researchers suggest that efficiency improvements could be promoted using policy tools and market-based measures, such as emissions ratings for airlines, adjusted landing fees based on aircraft performance, and carbon intensity caps – drawing parallels to standards used in sectors like household appliances and vehicles.

The study was based on data from Airline Data, the International Civil Aviation Organization, and the International Air Transport Association. This showed that the regions with the most inefficient flights were Africa, Oceania, the Middle East, Central Asia, and North America. The regions with the most efficient flights were Brazil, India, and Southeast Asia.

The study also involved researchers from atmosfair providing data and the Munich University of Applied Sciences.

The study ‘Large carbon dioxide emissions avoidance potential in improved commercial air transport efficiency’ has been published in Nature Communications Earth & Environment.

For more information about this story or republishing this content, please contact [email protected]