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Wizz Air Hits Wall in Bid for Gatwick Growth

Wizz Air Hits Wall in Bid for Gatwick Growth
Bloomberg
2/3/2021
Christopher Jasper and Siddharth Philip
(Bloomberg) Wizz Air Holdings Plc has a chance to become a force across Europe, using its low-cost structure and financial clout to capture a bigger share of the market when the coronavirus finally lets up.
The Hungarian discount carrier has snapped up airport capacity in Italy, Germany, Norway and the U.K. during the pandemic, but the westward push has been slowed by measures meant to stabilize an industry hard hit by the outbreak.
Authorities in the U.K. and the European Union have extended a waiver of rules that force airlines to relinquish unused takeoff and landing slots shielding them from rivals targeting expansion at hubs like London Gatwick. Wizz Chief Executive Officer Jozsef Varadi argues that the measures are protectionist, and that airports starved for fees would welcome fresh tenants. ....

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US Stock Futures Edge Lower as Biden Unveils Stimulus Plan; Major Banks Set to Kickoff Earnings Season

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The major U.S. stock index futures are edging lower in the pre-market session on Friday as investors digested the details of President-elect Joe Biden’s $1.9 trillion stimulus plan revealed Thursday evening local time.
Biden’s American Rescue Plan
A quick recap of President-elect Joe Biden’s American Rescue Plan, includes increasing the additional federal unemployment payments to $400 per week and extending them through September, direct payments to many Americans of $1,400, and extending federal moratoriums on evictions and foreclosures through September.
The plan also calls for $350 billion in aid to state and local governments, $70 billion for COVID testing and vaccination programs and raising the federal minimum wage to $15 per hour. ....

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