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European Airlines, Airports Gain as Biden Hints at Lifting Travel Restrictions

Stock MarketsJul 16, 2021 04:32AM ET
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© Reuters.

By Peter Nurse 

Investing.com - The European travel industry received a much-needed boost Friday after U.S. President Joe Biden announced that his administration was reviewing when it can lift restrictions over the travel to the United States for European citizens.

"It's in process now," Biden said, talking about when restrictions could be lifted, adding that he expects to be able to answer "within the next several days what is likely to happen ... I'm waiting to hear from our folks in our Covid team as to when that should be done."

By 4:25 AM ET (0825 GMT), IAG (LON:ICAG), which owns British Airways, stock rose 1.7%, Deutsche Lufthansa (DE:LHAG) stock gained 1.6%, Air France KLM (OTC:AFLYY) stock rose 1%, travel agency Tui  (DE:TUIGn) stock climbed 4%, airport Flughafen Zurich (SIX:FHZN) stock rose 1.4%, and Fraport (DE:FRAG) stock gained 2.2%. Dufry  (OTC:DUFRY), the operator of airport duty-free shops, rose 2.1%.

European airports, airlines and travel companies have been hit hard by Covid-19 pandemic, losing all of last summer’s peak vacation season, The recent surge of Covid cases caused by the delta variant has threaten to wreak similar damage this year, even with a growing percentage of the continent’s population being vaccinated.

Airlines and others have urged the administration to lift restrictions covering most non-U.S. citizens given that many countries not subject to travel restrictions have far higher Covid-19 rates than many European countries covered by the restrictions in place since March 2020.

 

European Airlines, Airports Gain as Biden Hints at Lifting Travel Restrictions
 

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Comments (2)
Eudon Hickey
Eudon Hickey Jul 16, 2021 5:09AM ET
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I never hear Biden speaks. All this info must be made up?
Eudon Hickey
Eudon Hickey Jul 16, 2021 5:07AM ET
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Biden wants to run away or escape, now that evidence was presented (again) about Presidential election 2020 - Biden lost, Trump won.
andy matalobos
andy matalobos Jul 16, 2021 5:07AM ET
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The big lie is nothing but a lie that poor educated Retrumpicans are willing to embrace.....$uckers.
 
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