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Lockdowns throw travel plans into chaos | ticker VIEWS

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The domestic travel market in Australia has been recovering quite well in recent months, but is that all about to change?

Recent lockdowns in Australia are threatening the travel market as states close borders to one another.

A growing cluster in New South Wales has spread to other parts of the nation, with Queensland, Darwin and Perth now facing troubled times.

Four cities have been declared hot spots and are now in lockdown.

Other surrounding states such as Melbourne, Victoria have snapped the border shut to infected states in hopes to curb the spread.

But this recent uptick in cases in a nation that once prided itself on managing the virus, is bad news for the travel market. Airlines, hotels and destinations that rely on tourists to earn a dollar, are right now anxiously awaiting what governments next announcement.

Flights grounded, again

Hundreds of flights right around Australia have been cancelled as borders are snapped shut, meaning passengers either dump holiday plans or spend two weeks in quarantine or simply, cop a fine from police for crossing the border (that’s if they don’t have permits).

Airlines will now have to cop the financial losses with customers forced to cancel travel arrangements, further resulting in airline crews again being stood down.

Travel agents in overdrive

Travel agencies around Australia are now working overtime to rebook passengers and for some, assist them with cancellations.

Lauren McLean of Flight Centre Australia says during these times of uncertainty, it has never been more important to book through an agent.

That’s because travel agents have the power and ability to bargain with airlines and hotels on refunds and policies to best suit the customer, meaning they do the nitty-gritty.


“We are on the phones with airlines all day”

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Money

Warner Brothers & Discovery considers splitting up to boost stock value

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Warner Bros Discovery is considering a strategic breakup to enhance its stock performance, according to a Financial Times report.

The potential move aims to unlock value by separating its media assets from its reality TV and lifestyle businesses.

This decision follows pressure from investors to improve stock performance, amidst challenges in the media industry #featured #trending

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Money

Investors worldwide grow increasingly optimistic about Trump winning the election

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Investors are increasingly optimistic about Donald Trump’s potential re-election, prompting a resurgence in the so-called ‘Trump trade’.

Market participants are closely monitoring Trump’s political strategies and public sentiment, influencing their investment decisions.

Kyle Rodda from Captial.com joins to discuss all the latest.

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Netflix expands use of ads despite slow subscriber growth

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Netflix is intensifying its efforts to introduce an ad-supported tier amidst a plateau in subscriber growth.

The streaming giant hopes to attract new users and boost revenue by offering a cheaper alternative that includes advertisements.

This move marks a significant shift from its traditional ad-free model, reflecting Netflix’s response to competitive pressures and evolving consumer preferences.

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