Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Money

TICKER VIEWS – Why governments should be compensating airlines for COVID disruptions

Published

on

A year into the pandemic and yet on the rare occasion, a border is snapped shut due to the detection of a few cases of COVID-19.

That’s the case in Australia, at least.

There is no doubt the nation is doing incredibly well with managing the virus – in fact, the country rarely records a locally transmitted case.

“Unprecedented” – Why airlines didn’t know how serious COVID-19 was when it all started

On the rare occasion that the nation does record a case of COVID-19, often we see the states and territories of Australia snap their borders shut, in fear that the virus will enter.

But when this happens, what happens to businesses that are impacted by the loss of revenue? Who compensates the world’s airlines when flights are forced to be canceled and travel grinds to a halt?

Internationally, the problem remains much the same.

Irish A330 First Officer, Brian O’Leary says airlines still being ‘left on the ropes’ and Governments aren’t providing enough support.

Small Business Australia’s Bill Lang, who says ‘it’s time for Governments to do more and start compensating the industry before it becomes too late.

Delta Airlines jets sit idle on a runway in the US.

What the aviation sector has to say:

The Australian Aviation sector continues to slowly recover from the devastation caused in 2020.

We’re now seeing airlines bounce back to 80 percent capacity of pre-COVID levels.

But still, the industry is brought to its knees when border closures are put into place, having to cancel flights, furlough employees and leave many travellers frustrated by the news that their flight ‘won’t be going ahead today’

Declan Kiddle, an Australian Aviation Operations Controller based in Perth, Western Australia, says the industry heavily on Jobkeeper, a former wage subsidiary.

Kiddle says the announcement of a $1.2 billion aviation and travel support package for the troubled sector has been welcomed, but the continuation of snap-border closures is resulting in traveller hesitancy.

Vaccinations and travel

Airlines right across the world are heavily reliant on the rollout of the COVID-19 vaccine.

Carriers such as Emirates have begun implementing full digital verification procedures to ensure smoother processing of passengers without needing physical paperwork.

Other airlines such as Australian carrier, Qantas has hinted at making it mandatory for all passengers that wish to travel overseas to have received a COVID jab.

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. 

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Money

Anticipation builds for US jobs data and it’s global impact

Published

on

What to expect on. a global scale as investors brace for key U.S. employment figures.

Investors and economists are eagerly awaiting the release of the latest US jobs data, anticipating its potential impact on global market trends.

The numbers are expected to provide crucial insights into the health of the world’s largest economy and may influence investment decisions and market sentiments worldwide.

Continue Reading

Money

ASX 200 – what are the key market impacts from reporting season?

Published

on

What have investors learned as ASX 200 wraps up reporting season?

As the ASX 200 reporting season draws to a close, market participants are analyzing the outcomes and drawing key insights.

From notable earnings reports to unforeseen challenges, the conclusion of this reporting season unveils critical information that will shape investment.

Continue Reading

Money

AI pushes the Nasdaq to a record-breaking close

Published

on

The Nasdaq achieved a record-breaking close, surpassing its previous record high of 16,057.44, which was established on November 21, 2021.

Artificial assistance

Artificial intelligence-related technology stocks, such as Nvidia (NVDA.O) and Microsoft (MSFT.O), have greatly boosted the index.

The Nasdaq Composite has increased by almost 7.2% this year.

The tech-focused index surged 43% in 2023, and as chipmakers gained traction and confidence increased that the Fed might achieve a soft landing—that is, curb inflation without inciting a recession—stocks surged strongly by year-end.

In contrast, Nvidia increased by 1.9% on Thursday, bringing its total gain from a year ago to around 250%.

Market boom

Every S&P 500 subs sector saw a gain at the end of the month.

Analysts at Deutsche Bank report that the index has now increased for 16 of the past 18 weeks, matching the record most winning weeks last attained in 1971.

Bitcoin also moved closer to its all-time high.

The price of the virtual currency momentarily surpassed $64,000 as spot bitcoin ETFs helped drive it to heights last seen in 2021.

Continue Reading
Live Watch Ticker News Live
Advertisement

Trending Now

Copyright © 2023 The Ticker Company