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Air travel optimism boosts Asia Pacific Airlines inventory

Qantas A380 taking off on the Saxony runway in Dresden on August 21, 2020

Tino Prunato | Image Alliance | Getty Images

In Singapore-Tuesday trading, Asia Pacific Airlines shares were moving after a surge in announcements significantly boosted the outlook for international air travel.

Qantas Australia’s share price soared 2.55% and Air New Zealand’s share price soared about 6%.

These stocks rose as New Zealand Prime Minister Jacinda Ardern announced that a “travel bubble” between his country and Australia would begin on April 19.

Meanwhile, Singapore’s aviation regulator has announced that it will begin accepting travelers using the International Air Transport Association’s (IATA) mobile travel pass for pre-departure checks in May. Singapore Airlines’ share price rose about 0.2% in Tuesday trading.

“It is very important to earn the trust of aviation leaders like Singapore with the IATA Travel Pass,” IATA Secretary-General William Walsh said in a statement.

“Ongoing trials are on track to make the IATA Travel Pass an important tool for resuming the industry by providing government-verified travel health credentials. Travelers are individuals. You can be completely confident that your data is secure and under your control, “Wolsh said. ..

In other regions, Korean Air’s share was flat, but the stock prices of Japanese airlines lag behind the wider region. Japan Airlines decreased by 2.44% and ANA Holdings decreased by 2.19%.

Local media reported that quasi-urgent Covid-19 measures had been implemented in several prefectures in Japan since Monday to stop the recurrence of the infection.

The air travel industry was one of the sectors most hit by the coronavirus pandemic as authorities tightened border restrictions globally to curb the spread of the virus.

Air travel optimism boosts Asia Pacific Airlines inventory

Source link Air travel optimism boosts Asia Pacific Airlines inventory

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