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Major Australian airport calls for vaccine speed-up as industry runs dry

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The CEO of Melbourne Airport says the vaccine rollout in Australia must “increase significantly” after reporting a major decline in traffic in July

Melbourne Airport’s July traffic numbers saw a 85.7 per cent drop compared to pre-pandemic levels.

The international hub welcomed just over 467,000 people in July, almost all of them being domestic travellers.

Chief of Aviation of Lorie Argus says the mood at the airport right now at the terminal is dull.

Melbourne Airport’s passenger traffic for the last financial year dropped to its lowest level since 1984

Argus says the airport is supportive of the Australian Government’s four stage plan back to freedom, however stressed further devastation will be felt to airlines and airports themselves if lockdowns and travel restrictions continue in the short term.

“It’s really hard for airlines and airports to keep operating at such losses”

Airports hit heavy – not just airlines

In an interview with ticker NEWS, Argus says that all levels of the travel market continue to be left devastated by changes to COVID rules, but highlighted an important notice – airports are struggling too.

Argus says airports continue to face financial losses due to the decline in traffic through terminals.

The Chief of Aviation says that unlike airlines “airports must continue and keep the lights on” – highlighting that hubs around the globe must continue to keep the doors open regardless of passenger numbers, and mostly that’s due to having to cater for freighter flights.

The business’ chief executive, Lyell Strambi, says it was now a matter of “urgent and critical national interest” to address the country’s vaccine supply challenges.

“The nation’s rolling border closures obliterate air travel and damage confidence, making it almost impossible for people to plan and book interstate trips,”

According to reports, passenger numbers for FY20-21 at Melbourne Airport was just 6.1 million. Domestic numbers made up the bulk of passengers – 5,939,368 – but that number alone was a 68.8 per cent decline on FY19-20. International numbers of 230,455 represented a 97.2 per cent drop on the same time last year.

Anthony Lucas is reporter, presenter and social media producer with ticker News. Anthony holds a Bachelor of Professional Communication, with a major in Journalism from RMIT University as well as a Diploma of Arts and Entertainment journalism from Collarts. He’s previously worked for 9 News, ONE FM Radio and Southern Cross Austerio’s Hit Radio Network. 

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Money

There’s a 50/50 chance of a 2024 recession

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The economy has been remarkably resilient despite massive pressures – but is that about to change in 2024?

 
The US economy is in for a sharp slowdown in 2024 as a closely watched survey of top economists foresees stubbornly high inflation, a rise in unemployment and a 50% chance of recession.

#ticker today #money

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Tesla insurance sued for ‘inflated’ premiums, judge rules

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A judge has ruled that Tesla’s insurance unit must face a lawsuit alleging “inflated” premiums.

The decision comes after policyholders claimed the electric car company’s insurance division overcharged them for coverage.

The lawsuit, which was filed by a group of Tesla policyholders, alleges that the premiums charged by Tesla’s insurance unit were significantly higher than market rates for similar coverage.

The plaintiffs argue that Tesla’s insurance division engaged in unfair pricing practices, leading to overpayment by policyholders.

Tesla has not yet commented on the judge’s decision, but the lawsuit raises questions about the transparency and fairness of the company’s insurance pricing.

It also highlights the growing scrutiny on how tech companies enter and compete in traditional industries like insurance.

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Money

Elon Musk mocks Paris Hilton’s cookware ad

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Tech mogul Elon Musk couldn’t resist poking fun at Paris Hilton’s recent cookware ad campaign after her company suspended a mysterious “X” deal.

In a tweet that quickly went viral, Musk quipped that the ad “wasn’t super convincing.”

The tweet came shortly after Paris Hilton’s company, Hilton Home Collection, announced the suspension of an undisclosed partnership, leaving fans and followers speculating about the nature of the collaboration. While the reasons for the suspension remain unknown, Musk’s tweet added a humorous twist to the situation.

Musk’s lighthearted remark sparked a flurry of reactions on social media, with some users joining in on the jest and others expressing curiosity about the nature of the suspended deal. Meanwhile, Paris Hilton herself has yet to respond to Musk’s comment, leaving many wondering if there’s more to the story than meets the eye.

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