Airline stocks rose as the US eased travel bans to the UK and EU.

Shares of major transatlantic airlines surged after the United States announced it was easing stringent COVID-19 travel rules put in place by the Trump administration at the beginning of the coronavirus pandemic.

The executive order, updated when President Joe Biden took office, banned travel to the United States by citizens of several countries, including the European Union (EU) Schengen Zone, the United Kingdom and Ireland.

Airlines have been appealing to the administration to lift the ban in the months after the UK and the European Union lifted restrictions on Americans.

White House infectious disease coordinator Jeff Zients told reporters that he expects fully vaccinated Europeans to be able to fly to the United States from early November.

International travel is important for connecting family and friends, energizing small businesses and fostering an open exchange of ideas and cultures, Zients said. That’s why we’ve used science and public health as our guide to develop a new international air travel system that enhances the safety of Americans in their home countries and the safety of international air travel.

Shares of IAG, owners of British Airways, Iberia and Aer Lingus, rose 11% in London, according to the news. Engine maker Rolls-Royce also rose 5%.

In Europe, shares of German Lufthansa and Air France-KLM are up about 7%.

American Airlines, Delta Air Lines and United Airlines, the American airlines with the largest international networks on Wall Street, all rose despite extensive market selling, with the Dow Jones Industrial Average dropping 650 points.

The US will allow vaccinated passengers on flights from 29 Schengen countries in Europe, including France, Germany, Italy, Spain, Switzerland, Greece, UK, Ireland, China, India, South Africa, Iran and Brazil. am.

Existing policy bans non-US citizens who have been in the country within 14 days.

All foreign travelers traveling to the United States must present proof of vaccination prior to boarding and proof of negative COVID-19 test within 3 days of flight.

President Biden will also tighten testing rules for unvaccinated U.S. citizens.

Aviation analyst Alex Macheras said in a tweet: When it comes to aviation, this is the news that BA, Virgin Atlantic, Air France, Iberia, Lufthansa and many other airlines have been desperately waiting for.

He added: Transatlantic travel is a very lucrative market. Most of the airline industry did not believe that the US ban could last longer than several months.

American Travel Association President and CEO Roger Dow applauded the announcement.

This is a major turning point in virus management and will accelerate the recovery of the millions of travel-related jobs lost due to international travel restrictions, Dow said.

The US Travel Association is deeply grateful to President Raimondo and his advisors, especially Secretary of Commerce Raimondo, who were tireless advocates with the industry to develop a plan to restart international travel and safely reconnect America and the world. mark.

Sean Doyle, CEO and Chairman of British Airways, said the news is a historic moment and will be of great help to global Britain out of this pandemic.

Nicholas Calio, president and CEO of the Aviation Industry Group for the Americas, said in a statement: Today’s announcement marks a positive step in the nation’s recovery and we are working with the administration over the next few weeks to implement this new global system. look forward to doing

The group says international air travel is down 43% from pre-pandemic levels.

Sources 1/ https://Google.com/ 2/ https://www.independent.co.uk/money/airline-shares-covid-travel-ban-b1923569.html The mention sources can contact us to remove/changing this article

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