US and EU airlines will benefit from President Obama’s decision to lift the travel ban on Cuba. The move, which was announced in a statement by the White House, is expected to increase travel between the two countries.
The u.s. travel ban update today is a recent news article that discusses the lifting of the travel ban by US Vice President Joe Biden.
President Joe Biden’s decision to let fully vaccinated European passengers back into the country could benefit both domestic and foreign carriers.
Airlines have always found trans-Atlantic flights to be very profitable.
According to Reuters News Service, before the epidemic, those routes accounted for 26% of income for IAG, the parent company of British Airways and Iberia Airlines. Lufthansa, Germany’s national airline, received 24% of its income from international flights, while Air France/KLM earned 16%.
Domestically, trans-Atlantic flights accounted for 11 to 17 percent of passenger revenue for American, Delta, and United, the three major trans-Atlantic airlines from the United States in 2019.
An exceptional spring and summer in which pent-up demand drove a rebound in air travel aided the financial health of the US-based airlines.
“For the major European legacy airline companies, the transatlantic market is a significant profit source,” said Bernstein analyst Daniel Roeska.
Investors were further encouraged by the White House statement on Monday and today, Tuesday, September 21. IAG’s stock gained 15% in two days, while Air France’s stock rose 3% on Tuesday.
While the COVID-19 delta variant strain is still lurking and making its presence known in the United States, and while winter is a relatively quiet period for air travel except for the five weeks or so between Thanksgiving and New Year’s, airlines are hopeful that Biden’s decision will be a game changer.
Scott Kirby, CEO of United Airlines, thinks that complete travel recovery will occur in January.
“It seems that the number of instances has peaked. Let’s hope that’s the case,” he said on CBS’s “Face The Nation” program. “Let’s hope that as more people get vaccinated, we can finally return to normal throughout the nation. The demand (for) recovery, on the other hand, has most likely been put back until January.”
Customers were eager to travel again, according to British Airways, which reported an almost 700 percent rise in searches for vacations to U.S. locations including New York, Orlando, Las Vegas, and Miami on Monday compared to the same day last week.
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The when will u.s. lift travel ban from europe is a question that has been asked for quite some time. It was recently answered by Vice President Joe Biden when he said that the United States would lift the travel ban on European countries in order to strengthen relations between the two nations.