Airlines stocks gains in early trading, as Biden Hinting at Lifting Europe Travel Ban.
Tiger Newspress2021-07-16
Airlines stocks gains in early trading, as Biden Hinting at Lifting Europe Travel Ban.
UAL and DAL shares rise more than 1%,AAL is up 0.5%.
U.S. President Joe Biden signaled progress toward lifting a ban on travel from Europe, raising hopes for a reopening of the almost $40 billion North Atlantic air corridor 16 months after flights were grounded by Covid-19.
“It’s in process now,” Biden said at a news conference with Merkel following their meeting. “I’m waiting to hear from our folks, our Covid team, as to when that should be done.”
He said to expect an answer “within the next several days.”
Removing the ban would be a boon for carriers on both sides of the Atlantic. Former President Donald Trump barred entry from most of Europe, including the U.K., in March 2020, and Biden extended the policy early in his term.
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