Shares of European airlines rise following relaxation of US entry ban
The recent decision of the United States government to reopen its doors to all vaccinated travelers from the 26 countries of the Schengen area as well as those from the United Kingdom, Ireland, Brazil, India, He South Africa and China have been praised by governments, organizations as well as airlines.
The same claimed that this is an essential step to help the economic sector recover from the damage caused by the coronavirus, reports SchengenVisaInfo.com.
For over a year now, authorities in the above-mentioned countries have urged the US administration to end the presidential proclamations regarding the entry suspension for travelers from the above-mentioned territories. However, the US government had not taken any concrete decision in this regard until September 20.
White House coronavirus response coordinator Jeffrey Zients told reporters he expects travelers who have been fully immunized to the virus wishing to enter the United States from European countries are allowed to do so from “early November”.
âInternational travel is essential for connecting families and friends, for nurturing businesses small and large, for promoting the open exchange of ideas and culture. That is why, with science and public health as our guide, we have developed a new international air transport system that both improves the safety of Americans here at home and improves the safety of international air travel â, Zients pointed out in this regard.
Shortly after US officials announced such a move, UK airlines recorded a rise in stock prices during that week.
Shares of International Consolidated Airlines Group (IAG) rose to 19 percent following the US announcement to lift entry bans on arrivals from many other countries.
Shares of Lufthansa and Air France-KLM saw an increase of around seven percent, according to local reports.
As for the United States, there was also a noticeable increase in share prices in airlines such as Delta Air Lines, American Airlines and United Airlines.
Regarding the lifting of entry bans for travelers vaccinated against the virus, Jeffrey Zients also told reporters that “We know that vaccines are effective, including against the delta variant, and vaccines are the best line of defense against Covid, so this vaccination requirement deploys the best tool we have in our arsenal to ensure the safety of people and prevent the spread of the virus. “
Based on figures previously provided by industry trade group Airlines for America, international air travel was down 43% overall from pre-pandemic figures.
Recently, SchengenVisaInfo.com reported that Germany’s largest airline, Lufthansa, announced that flight bookings had increased by 40%, shortly after the US government stressed it would lift the entry ban. imposed on other countries, including countries in the Schengen area.