Airport Delays Become a Focus in the Shutdown Fight

Summary

---

WSJ What’s News – PM Edition

Episode: Airport Delays Become a Focus in the Shutdown Fight
Date: October 9, 2025
Host: Alex Osola, The Wall Street Journal

---

Episode Overview

This edition of What’s News delivers updates on political and business headlines, focusing especially on how mounting airport delays are intensifying pressure to end the ongoing government shutdown in the US. The episode also covers a brokered peace plan in Israel, a Russian admission of accountability in a jet downing, economic signals from markets and IPOs, PepsiCo’s efforts to rebrand Lay’s chips as healthier, fresh budget insights, and a Nobel Prize in Literature announcement.

---

Key Discussion Points & Insights

1. Israeli Government to Vote on Trump-Brokered Peace Deal (00:32–02:25)

• Details of the Plan: Israel is set to vote on a US-brokered deal for a ceasefire in Gaza and the release of remaining hostages from Hamas. This is seen as a first step toward broader negotiations for disarmament and interim governance in Gaza.
• Political Reactions: Prime Minister Netanyahu welcomes the deal, despite internal resistance. The Trump administration is positioning itself as a mediator.
• President Trump’s Statement:

  “We secured the release of all of the remaining hostages and they should be released on Monday or Tuesday… we are getting the hostages back on Tuesday, Monday or Tuesday and that will be a day of joy.”
  — President Trump (02:01)

• Next Steps: Formal approval by the Israeli government and a possible presidential trip to the region for a ceremony.

---

2. Russia Admits Responsibility for Downed Azerbaijani Jet (02:25–03:11)

• Putin’s Acknowledgment: In a rare admission, Russian President Vladimir Putin takes responsibility for the accidental downing of an Azerbaijani passenger plane, promising accountability and compensation.

---

3. Market & Business Updates (03:11–06:43)

• Market Recap: Gold and silver declined; US stock indexes fell modestly.
• IPO Surge: US IPO activity bounced back in Q3 2025, attributed to clearer outlooks on tariffs and interest rates.

  “The US led the acceleration in IPOs in terms of proceeds with the best quarter since 2021… The more recent momentum is expected to continue into next year.”
  — Alex Osola (03:15)

• US Government Supports Argentina: Treasury Secretary Scott Besant revealed support for Argentina by buying pesos, backing President Javier Milei’s reforms.
• Lay’s Rebrands as a Healthier Choice:
  • New Messaging: Lay’s is being rebranded to highlight its use of real potatoes and removal of artificial ingredients.
  • Notable Packaging Changes: Inclusion of new labels, switch to heavier matte bags, oil swaps to olive/avocado.
  • Industry Trend: PepsiCo’s move aligns with the broader “Make America Healthy Again” momentum.

    “41–42% of consumers were unaware they were made with real potatoes… This is part of bringing back some of that magic.”
    — Laura Cooper, WSJ (04:51, 06:11)

---

4. Air Traffic Control Staffing Crisis & Government Shutdown (07:31–10:17)

• Delta’s Strong Demand vs. Systemic Risks: Despite surging demand, flight delays worsen due to the government shutdown.
• Staffing Shortages:
  • Many air traffic controllers are working unpaid, leading to call-outs and delays in airports nationwide.
  • Thin staff results in longer hours and potential safety issues.

    “When you have air traffic controllers that are working without pay, they're more likely to call in sick…flights can't take off and land as they might be planned to.”
    — Anvi Bhutani, WSJ (08:21)

• Safety vs. Delays:
  • FAA has not yet grounded flights but warns it may if safety is compromised.
  • Reference to heightened safety concerns after a recent collision.

    “The FAA … has come out and said they will ground flights if shortages start causing safety concerns. So far they haven't had to ground any flights … but if the shutdown persists, that's something they are considering.”
    — Anvi Bhutani (09:06)

• Shutdown as Political Pressure Point:
  • Both parties signal that airport delays could force a resolution, as happened in 2019.

    “There is suspicion that this could be one of the biggest pressure points that would finally get people to vote for some kind of continuing resolution or solution.”
    — Anvi Bhutani (09:37)

  • Air traffic controllers resent being “political pawns.”

---

5. U.S. Federal Budget Assessment (10:27–12:17)

• Deficit Unchanged: Despite higher tariff revenue and administrative reforms, the federal deficit remained flat year-on-year.
• Rising Costs: Main budget drivers are Social Security, Medicare, and interest costs.

  “The big drivers are unchanged. Interest costs are going up. Social Security, Medicare are more expensive year on year, both because of the aging of the population and rising health care costs.”
  — Richard Rubin, WSJ (10:53)

• Impact of Government Efficiency Department (DOGE):
  • Cost savings targets were not achieved.
  • Some reductions via encouraging federal employee departures, but limited overall impact.

    “At the beginning they were talking about, oh, we'll save 2 trillion. That has not materialized.”
    — Richard Rubin (11:31)

---

6. Nobel Prize in Literature (12:25–12:50)

• Recipient: Laszlo Krasnohorkai, Hungarian novelist, recognized for his “compelling and visionary oeuvre” depicting apocalyptic themes.

  “…that in the midst of apocalyptic terror, reaffirms the power of art.”
  — Swedish Academy, quoted by Alex Osola (12:39)

---

Notable Quotes & Memorable Moments

• On Hostages Release: “We are getting the hostages back on Tuesday, Monday or Tuesday and that will be a day of joy.” — President Trump (02:01)
• On Air Traffic Control Crisis: “There is suspicion that this could be one of the biggest pressure points that would finally get people to vote for some kind of continuing resolution or solution.” — Anvi Bhutani (09:37)
• On Budget Realism: “At the beginning they were talking about, oh, we'll save 2 trillion. That has not materialized.” — Richard Rubin (11:31)
• On Lay’s Makeover: “41–42% of consumers were unaware they were made with real potatoes… This is part of bringing back some of that magic.” — Laura Cooper (04:51, 06:11)

---

Key Timestamps

• 00:32–02:25 — Coverage of Israel’s vote on hostage-ceasefire deal
• 02:25–03:11 — Russian admission of downing Azerbaijani jet
• 03:11–06:43 — Market update, IPO revival, PepsiCo’s Lay’s rebranding
• 07:31–10:17 — Effects of government shutdown on air travel and air traffic controller staffing
• 10:27–12:17 — US federal deficit and budget dynamics
• 12:25–12:50 — Laszlo Krasnohorkai awarded the Nobel Prize in Literature

---

This episode provides both a rapid-fire rundown of urgent business, economic, and geopolitical stories and a deeper look into airport delays as a pivotal issue in the government shutdown fight, making it highly relevant for travelers, investors, and policymakers.

Transcript

[A]

When did making plans get this complicated? It's time to streamline with WhatsApp, the secure messaging app that brings the whole group together, use polls to settle dinner plans, send event invites and pin messages so no one forgets mom 60th and never miss a meme or milestone. All protected with end to end encryption. It's time for WhatsApp message privately with everyone. Learn [e-mail].

[B]

The Israeli government is set to vote on whether to accept a peace plan brokered by the Trump administration, plus how flight delays could play a role in ending the government shutdown.

[C]

There is suspicion that this could be one of the biggest pressure points that would finally get people to vote for some kind of continuing resolution or solution.

[B]

To the shutdown and why the top selling chip brand in America is highlighting its health food bona fides. It's Thursday, October 9th. I'm Alex Osolleff for the Wall Street Journal. This is the PM edition of what's news, the top headlines and business stories that move the world today. Israel's government is set to vote today on an agreement that would free the remaining hostages held by Hamas and establish a ceasefire in Gaza. The Trump administration, which brokered the deal, hopes that an agreement will be the first step towards a longer term settlement that will involve talks over the disarmament of Hamas and the formation of an interim government to oversee Gaza. Israeli Prime Minister Benjamin Netanyahu, who has faced resistance to ending the war from far right members of his coalition government, welcomed the deal to bring home Israeli hostages with which his government is expected to approve. People familiar with the matter say the deal would go into effect once Israel's government approves it. Speaking from a cabinet meeting in the White House this afternoon, President Trump offered some details about the deal's timeline.

[D]

We secured the release of all of the remaining hostages and they should be released on Monday or Tuesday. Getting them is a complicated process. I'd rather not tell you what they have to do to get him. There are places you don't want to be, but we are getting the hostages back on Tuesday, Monday or Tuesday and that will be a day of joy.

[B]

He added that the hostage deal has been signed and that he is working on making a trip to the region for an official ceremony. In other international news, Russian President Vladimir Putin admitted that Russia was to blame for downing an Azerbaijani passenger jet last year. The December crash of the Embraer 190 plane killed 38 people and chipped away at Moscow's influence over Azerbaijan, a former Soviet republic. In a rare acknowledgment During a meeting today with Azerbaijan's President Ilham Aliyev, Putin said that missiles fired by Russian air defenses after Ukrainian drones entered Russian airspace had detonated near an Azerbaijan Airlines plane. Putin vowed to hold those responsible accountable and to offer compensation.

[E]

Foreign.

[B]

Markets moved lower today, with gold and silver pulling back after the sharp rallies of recent weeks. The Dow dropped about half a percent, The S&P 500 dipped about 0.3%, and the Nasdaq was down about a tenth of a percent. In business news, initial public offerings made a comeback in the third quarter, fueled by short term clarity about tariffs and interest rates. That's according to a new report from EY, which also said that the US led the acceleration in IPOs in terms of proceeds with the best quarter since 2021. Uncertainty about tariffs and interest rates held back IPO activity earlier in the year, it said, but the more recent momentum is expected to continue into next year. And Treasury Secretary Scott Besant said today that the US Bought Argentinian pesos in a bid to out act swiftly to support the economic overhaul being enacted by the country's president, Javier Milei. The disclosure in a post on X shows that the White House is deploying funds in support of its political ally, whose economic reform agenda Besant dubbed of systemic importance. Lay's is America's top selling brand of potato chips, a category synonymous with junk food. Its maker, PepsiCo, is convinced Lay's can have an even stronger appeal by marketing the brand's farm roots and appearing healthier. Laura Cooper covers beverage makers for the Journal and is here now with more. Laura, what kinds of changes is PepsiCo making to Lay's?

[E]

So PepsiCo is really leaning into its real potatoes image. Lays have always been made with real potatoes, but they found in market research that about 4 42% of consumers were unaware that they were made with real potatoes. As a result, they are rebranding lay's. The classic bag says made with real potatoes on it has an actual picture of potatoes, chips, salt, whatever's in there. And they also are changing some varieties of oils in specific lay's chips specifically to Oliver avocado oil from seed and corn oil. They're also going to take artificial coloring out, for instance in barbecue chips that was used to give them their red brown color. And they're also going to remove any artificial flavors. They're going to be ditching their shiny classic lightweight bags for a heavier matte finish. It actually feels different in your hands.

[B]

Why is the company making these changes now?

[E]

Obviously there's a lot going on with the Make America Healthy Again movement. And so a number of different food companies have started to take on these initiatives. But PepsiCo has been working on this for several years. It just so happens to be happening at a time where Americans are really interested in scrutinizing what's in their food.

[B]

Yeah. What is this moment for PepsiCo? What's at stake with these changes?

[E]

They currently have an activist investor that is pushing for changes in beverage and food. Food has been seeing since about 2022 slowing sales. Also, the price of chips is expensive. This comes at a time when people are going into supermarkets and making hard choices, whether that's do I buy a bag of chips or do I buy something else? Food has always been an engine of growth for this company. And I think this is part of bringing back some of that magic.

[B]

That was WSJ reporter Laura Cooper. Thanks, Laura.

[E]

Thank you so much.

[B]

Coming up, is your flight delayed? Blame the government shutdown. More on that after the break.

[F]

So you're about to make a trade based on a friend's text, but which u do you listen to? Is it we could buy a house.

[B]

In Tulum.

[F]

Get optioning those options. We could lose everything. Or let's do a little research. Get your head in the trade and make the investment decision that's right for you. Learn [e-mail] TradeSmart.

[B]

Delta Air Lines said today that travel demand has surged in the last six weeks, helping its revenue rise 6% in the third quarter and ahead of Wall street expectations. And the airline expects that demand to carry into the fourth quarter a market turnaround from a turbulent start to the year. Well, the longer the government shutdown continues, the greater chance that those flights stand of being delayed. A shortage of air traffic controllers at airports from Nashville to Chicago's o' Hare has already delayed thousands of flights across the country this week. More travel disruptions loom as thinly staffed airport towers grapple with a workforce that frequently puts in 60 hour work weeks but now isn't getting paid to work. WSJ reporter Anvi Bhutani is in the Capitol and joins me now with more onvi. How do staffing issues among air traffic controllers result in flight delays? What is the relationship there?

[C]

So when you have air traffic controllers that are working without pay, they're more likely to call in sick, which we're seeing. And there's more likely to be a shortage of staff. That means that flights can't take off and land as they might be planned to. And so and we've seen in recent days that across the country from Tennessee to Chicago to right here in D.C. that people are facing those delays in.

[B]

Lifetime delays are unpleasant and unfortunate. But safety, of course, is the primary issue that I think people would be worried about. And over the past few months, we've really been talking about it a lot after the midair collision between an American Airlines flight and a helicopter in D.C. back in January. So do these air traffic control staffing issues have an impact on flight safety?

[C]

100%, they do. And this is something that the FAA, the Federal Aviation Administration has come out and said that they will ground flights if shortages start causing safety concerns. The transportation secretary, Sean Duffy, has also been very clear about this. So far they haven't had to ground any flights for stopping reasons. But if their shortage persists and if the shutdown persists, that's something that they.

[B]

Are considering about that shutdown because air travel problems actually helped end the last government shutdown in 2019. Could that happen this time around?

[C]

Both Republicans and Democrats have repeatedly said that this is a huge problem, that they're seeing the delays happening, that they're not happy about it. And so there is suspicion that this could be one of the biggest pressure points that would finally get people to vote for some kind of continuing resolution or solution to the shutdown.

[B]

And what do air traffic controllers say about that?

[C]

Air traffic controllers are upset that they're becoming a political pawn in this. This is becoming like a political football, as they called it is something that they're very unhappy about and something that they've repeatedly spoken out about in recent days.

[B]

That was WSJ reporter Anvi Bhutani. Thanks, Anvi.

[C]

Thank you so.

[G]

Much.

[B]

Yesterday, the Congressional Budget Office released its year end figures for fiscal year 2025. And though control of the White House changed during that period, the US Budget picture remains grim. Despite a historic rise in tariff revenue, the deficit was the same in the year ended September 30, 2025, as the previous year. WSJ tax policy reporter Richard Rubin is here to tell us more. Richard, were there any surprises in that budget review?

[G]

The big drivers are unchanged. Interest costs are going up. Social Security, Medicare are more expensive year on year, both because of the aging of the population and rising health care costs. Those trends continue. We have seen the tariffs are raising a lot of money. There's still a small piece of federal budget, but it's growing. Trump's stamp on the budget is largely tariffs replacing income taxes and maybe some spending restraint on Medicaid coming out of the one big beautiful bill but we'll have to see how well that gets implemented.

[B]

I'm curious whether the Department of Government Efficiency or DOGE made an impact on the overall budget, which it was intended to do.

[G]

Not overall. Look, the budget is so large, the federal government raised more than $5 trillion in fiscal 2025 and spent more than $7 trillion. At the beginning they were talking about, oh, we'll save 2 trillion. That has not materialized. That doesn't mean that they did nothing. They clawed back some grants. And DOGE also led this effort to encourage federal employees to leave. And so as those federal employees have now left government payrolls, which really is just happening in the past couple of weeks, then the question is, can agencies operate with fewer people? Also, on the congressional level, Congress controls the purse strings at a fundamental level. And so if Congress goes back and gives agencies the kind of budget that they were going to have, then it's not going to make that much of a difference broadly.

[B]

That was WSJ reporter Richard Rubin. Thanks, Richard.

[G]

Yep, anytime.

[B]

And finally, Hungarian novelist Laszlo Krasnohoray has been awarded the Nobel Prize in Literature. Born in dula, Hungary, in 1954, Krasna Horkai is known for his long, winding sentences and dark themes. The Swedish Academy in Stockholm, credited in Krasnohorkai quote from for his compelling and visionary oeuvre that in the midst of apocalyptic terror, reaffirms the power of art. And that's what's news for this Thursday afternoon. Today's show is produced by Pierre Bienname and Rodney Davis with supervising producer Jana Herron. I'm Alex Osola for the Wall Street Journal. We'll be back with a new show tomorrow morning. Thanks for listening.