Even with COVID-19 vaccines, grim outlook puts robust travel recovery out a few . years
Updated Feb 06, 2021;
Posted Feb 06, 2021
Kaihalulu Bay in Hana, Hawaii, is surrounded by towering red cinder cliffs. A tourism and travel rebound hasn t really begun. For a start, it isn’t clear the vaccines actually stop travelers spreading the disease, even if they’re less likely to catch it themselves. (AP Photo/Marco Garcia, File)AP
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As coronavirus vaccines started rolling out late last year, there was a palpable sense of excitement. People began browsing travel websites and airlines grew optimistic about flying again. Ryanair Holdings Plc even launched a “Jab & Go” campaign alongside images of 20-somethings on holiday, drinks in hand.
Feb 06 2021, 5:40 AM
February 05 2021, 2:30 AM
February 06 2021, 5:40 AM
(Bloomberg) A stock exchange founded in Russian President Vladimir Putinâs hometown just became the busiest venue for equity trading in the country thanks in part to last weekâs retail-trader frenzy in the U.S.
(Bloomberg) A stock exchange founded in Russian President Vladimir Putinâs hometown just became the busiest venue for equity trading in the country thanks in part to last weekâs retail-trader frenzy in the U.S.
Stock volumes on the Saint Petersburg Exchange which lets investors buy and sell foreign shares directly via their Russian brokerage accounts surpassed those of the Moscow Exchange for the first time on record last month. Trading on the SPB, as itâs known, climbed 14% in January to $36.1 billion. The Moscow Exchange, which focuses on Russian securities, saw the equivalent of $30.2 billion change hands.
Brace Yourself: Long-Haul Travel May Not Get Going Until 2023 Brace Yourself: Long-Haul Travel May Not Get Going Until 2023 For a start, it isn t clear the vaccines actually stop travelers spreading the disease, even if they re less likely to catch it themselves.
Commercial flights worldwide as of Feb. 1 wallowed at less than half pre-pandemic level.
As coronavirus vaccines started rolling out late last year, there was a palpable sense of excitement. People began browsing travel websites and airlines grew optimistic about flying again. Ryanair Holdings Plc even launched a Jab & Go campaign alongside images of 20-somethings on holiday, drinks in hand.
Restrictions Ease in U.S.; No Lockdown for France: Virus Update
Bloomberg 2/4/2021 Bloomberg News
(Bloomberg) Dozens of U.S. states are releasing vaccines left over from a federal initiative for nursing homes, increasing supply for other eligible people like essential workers and seniors. New York City hospitalizations surged after the snowstorm, Mayor Bill de Blasio said. Around the U.S. restrictions are lifting as the outbreak eases.
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Wisconsin’s governor issued a new face mask order immediately after the legislature repealed his earlier one. Texas set a daily record for vaccinations.
The Bank of England forecasts that the U.K. economy is heading for a powerful rebound as a consequence of the government’s aggressive push to vaccinate its citizens. France said a new lockdown is not justified at the moment.
American Airlines Group Inc. warned 13,000 employees that they could be laid off, many for the second time in six months, saying a much-anticipated summer travel rebound isn’t materializing.
The carrier will send out government-required WARN notices Feb. 5, Chief Executive Officer Doug Parker and President Robert Isom told workers in an email Wednesday. The warning came less than a week after United Airlines Holdings Inc. told 14,000 employees that their jobs may again be in danger.
American Airlines 777-300. Photo/American Airlines
The risk of new layoffs highlights the weak outlook for travel demand amid heavy coronavirus case totals worldwide and tougher government travel restrictions. With vaccination campaigns still in the early stages, domestic airline passengers are at less than 40% of 2019 levels. Foreign travel is at only about 15%, the International Air Transport Association said Wednesday.