Airline Stocks Gain on Report U.S. to Ease EU, UK Travel for Vaccinated By Investing.com
By Dhirendra Tripathi
Investing.com – Shares of both European and U.S. airlines rose Monday on a report that the Biden administration plans to relax rules for vaccinated travelers from the EU and the U.K.
According to a report in Financial Times, the Biden administration’s new travel policy will be effective in November. According to reports, today’s announcement was likely.
British Airways’ shares of IAG (LON 🙂 jumped 9.5% in London, while EasyJet and Ryanair (LON 🙂 gained respectively 4.2% and 2.2%. Air France KLM (PA 🙂 increased 6.2% in Paris, while Deutsche Lufthansa grew 5.7% in German trade.
The NYSE saw American Airlines (NASDAQ) trade around 1% lower, United Airlines (NASDAQ) and Delta Air Lines(NYSE:). JetBlue (NASDAQ) and Southwest Airlines (NYSE;), which are more focused on the U.S. markets, trade slightly lower.
According to the FT, those who are involved in clinical trials of vaccines not approved yet in the U.K. may also be allowed into the U.S. This policy will cover around 40,000 people.
According to the report the Biden Administration is currently working on a policy that will cover international travel. It replaces the existing system of restrictions and bans that are in place for different areas of the world.
Only Americans and their immediate families can travel to America, along with green card holders and people who are exempt from national security requirements, if they were in the U.K., EU or the U.S. within the past 14 days.
The White House’s change of heart comes on the eve of the United Nations General Assembly meeting in New York.
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