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Air travel drops 40% before Thanksgiving | Instant News


Text size Three digits to start your day: Compared to 2019, air travel drops 40% on Wednesday before Thanksgiving Despite the drop, these are actually the busiest US airports since the first pandemic in March, according to data from Deutsche Bank. This raises concerns that the holidays could turn into “super-spreader events,” the bank’s economist says. A continued rise in Covid-19 cases could lead to tighter lockdowns and limits on travel and gatherings. Further closures would curtail economic activity, but likely not as severely as the initial stages of the pandemic earlier this year. At least investors didn’t seem too worried about the holiday shopping season. Shares closed at new highs on Friday. Zoom Video Communications’ quarterly sales rose 300% from the same quarter in 2019.The video conferencing company is expected to report earnings today after trading closes. It is expected to post profits of 76 cents a share, more than 25 times higher than its earnings for the same period last year. Zoom is one of the biggest winners from the pandemic, as people work remotely and video call family and friends to avoid spreading Covid-19. Its sales and profits have therefore exploded in the past nine months. Its stock has also – Zoom shares are up 585% so far this year. Tesla’s market valuation hits $ 544 billion It briefly had a larger market cap than Warren Buffett’s company Berkshire Hathaway on abbreviated trading day Friday. The electric carmaker’s stock has climbed 600% this year – and it now has a larger market cap than Ford and General Motors combined. When it passed Berkshire Hathaway, it had the sixth highest market valuation in the United States, behind tech giants such as Amazon, Apple and Microsoft. Tesla posted second-quarter profit, which made it eligible for inclusion in the S&P 500 – it will be added to the large-cap index on December 21. Traders have applauded the news, and the stock has gained over 40% since the announcement. But the optimism might not last. Stocks often rally until they are added to the index and then decline after they are added. Numbers by Barron’s is our daily podcast. Learn more here. Write to Alexandra Scaggs at [email protected]



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Airlines take a heavy hit as England bans travel abroad without work | Instant News


Photographer: Chris Ratcliffe / Bloomberg Photographer: Chris Ratcliffe / Bloomberg Prime Minister Boris Johnson’s government has banned overseas leisure travel from England as part of a partial lockdown of the country to stem a resurgence of the coronavirus , plunging airlines into a new crisis. will apply from Thursday to December 2 and will come as the industry struggles to survive a slump in demand. Airlines had not been made aware of the restrictions before Johnson’s announcement on Saturday night, according to people with knowledge of the case who declined to be identified because they were not authorized to speak publicly on the question. Airlines were already reeling from the Covid-19 pandemic. They shed tens of thousands of jobs, retired older fuel-hungry planes, and turned to financial markets and asset sales to survive a drop in travel. In response to the resurgence of Covid-19 infections during the slower winter season, many have further reduced the ability to cut spending. EasyJet Plc, Europe’s second-largest discount carrier, said in a statement it would maintain its scheduled schedule until Thursday, and “it is likely that much of the schedule affecting the UK will be canceled. during the lockdown, our flight scheduled to resume in early December. The carrier reiterated its call for government support for the aviation industry. British Airways said it was evaluating the new information and would keep customers informed of changes to travel plans. holidays outside primary residences will not be allowed – including holidays in the UK and abroad, “under restrictions announced on Saturday evening. All shops except essential ones will close, as will restaurants and bars , although schools and universities will remain open Read this: Johnson announces partial lockdown of England as virus rises British Airways owner IAG SA said this month it would only operate 30% of its 2019 capacity in the current quarter. EasyJet has raised nearly $ 400 million through a sale and leaseback transaction for certain Airbus A320 aircraft. “Christmas will be different ent this year very different, but I sincerely hope that by taking strong action now we can enable families across the country to be together, ”Johnson said at the press conference on Saturday. Even before the latest lockdowns in countries like France and Germany, the International Air Transport Association had predicted that the global airline industry was on track to spend $ 77 billion in cash in the second half of the year. will be granted to workers on leave of up to 80% of their salary during the new lockdown period. This could offer some relief to airlines – as well as other businesses – as employers will only have to cover certain tax payments for workers on leave, a more generous system than at present. where companies have to pay 20% of their salary. Before he’s here, it’s on the Bloomberg terminal. LEARN MORE.



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Air travel worries after Trump coronavirus infection | Instant News



Flying on Air Force One was risky from a health standpoint last week. President Donald Trump may have been contagious with Covid-19. And at least one aide, Hope Hicks, who traveled with the president to Minnesota for a rally, has tested positive. She had mild symptoms and was quarantined on the flight back to Washington, according to reports. The incident raises questions about the safety of flying and whether new concerns about Covid could block a resumption of air travel. But there are big differences between commercial flights and traveling on Air Force One, which can have a big impact on the risk of contagion. Perhaps the biggest differences: the use of the mask and the seating configuration. Face masks were not required on presidential flights, while they are mandatory on major passenger flights. There are face-to-face seats on Air Force One, and passengers can move around various parts of the plane, potentially spreading the virus. It is very different from sitting for the duration of commercial lighting. “Everyone on a passenger flight is facing forward with people seated on either side, and the airflow is up and down. The dynamics are very different, ”says Savanthi Syth, analyst at Raymond James. But negative headlines on Covid tend to affect travel demand, usually with a lag of one or two weeks. Demand has weakened as cases in the United States have increased. And a major test comes with the holiday season. “The main drivers of revenue for the quarter are around Thanksgiving and Christmas travel,” says Syth. “This will drive the lion’s share of demand in the quarter, and it will be even bigger this year.” About 700,000 passengers a day take commercial flights, up from 2.2 million a day a year ago. But some airlines have cut schedules amid signs that demand looks weak in the coming months. Southwest Airlines (symbol: LUV) cut 38,000 flights in November and 55,000 in December, or about 45% of its schedule in those two months. “We recently adjusted our flight schedule for November and December to reflect the demand we are seeing for travel, a process we have continuously undertaken throughout this year,” Southwest said in a statement. Airlines have adopted stringent cleaning and safety measures and use HEPA air filters that recirculate cabin air every five to seven minutes, removing more than 99.9% of particles and microbes. Airflow to a cabin is recirculated 20 to 30 times per hour, according to the International Air Transport Association, an industry advocacy group. IATA says the risks in an airplane are lower than in many other types of confined spaces, where HEPA filters are not used. “If people take off their masks to eat and drink in a bar, it is riskier than being on a plane, not moving, not talking, not moving,” said Dr. Lin Hwei Chen, director of the Travel Medicine Center at Mt. Auburn Hospital and Associate Professor at Harvard Medical School. “In terms of ventilation, the plane may actually present a lower risk.” Several studies have documented clusters associated with air travel, but the studies have had limitations. A study published in Emerging Infectious Diseases concluded that 15 of 217 people on a flight from London to Hanoi, Vietnam last March were likely infected in flight. The source was a contagious business-class woman, the researchers concluded. But it was a 10 hour flight and the duration of the exposure is very important for the contagion. Masks were not required in March and most infections were in and around business class passengers. The study relied on contact tracing to determine who caught the virus. Some passengers have taken cruises and visited hotels afterwards, and it is not known whether they were infected on the flight. The researchers were not able to genetically sequence the strain of virus to determine if it was identical in all cases. The epidemiological evidence was strong in the study, says Chen, but “if the virus had been sequenced the study would have been even more reliable.” An article in the Journal of the American Medical Association concluded that very few cases of in-flight Covid transmission have been confirmed worldwide – only around 42 in total. By comparison, a study of transmission on high-speed trains in China showed a rate of 0.3% among passengers. “The risk on board can be further reduced with face coverings, as in other settings where physical distance cannot be maintained,” the JAMA article states. Still, Covid appears to be a relatively hearty virus that can survive on the skin. A study published in Clinical Infectious Diseases found that Covid-19 could survive 11 hours on the skin, which is almost nine hours longer than the flu virus. This means that Covid could be transmitted to surfaces more widely, although it is also easily killed with alcohol and thorough hand washing. Byron Jones, a professor of mechanical engineering at Kansas State University and an expert in aircraft environmental controls, says more data would be needed to accurately determine the risks in flight. “At the end of the day, we don’t have the data to do a quantitative risk assessment,” he says. One positive point is that airlines report lower infection rates among crew members than other ground workers. But consumers may overestimate the effectiveness of good ventilation on airplanes, as there are many other ways of spreading the virus. Chen also says more data is needed. “We need a very large set of thefts or systematic public health data, but this has not been published,” she says. The Centers for Disease Control and Prevention has said it is aware of 1,600 cases of Covid on U.S. flights, but has not released estimates on in-flight transmissions, she said. “There should be more information available when the CDC analyzes these cases and their contacts,” she added. Jones said he would take a commercial flight – very carefully: “I would get a good mask, an eye mask, my own sanitary wipes and a supply of hand sanitizer,” he says. “Do these things and I think you’ll be fine, but if it’s a 10 hour flight, I can’t imagine you wouldn’t be exposed.” I would think twice before taking a really long flight. Write to Daren Fonda at [email protected]



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TUI, Ryanair, and other travel agencies fight virus resurgence in Spain | Instant News


Text size People walk along Las Ramblas street in Barcelona on July 25, 2020. The Catalan government has ordered the closure of all nightclubs, discos and event venues in this northeastern region of Spain. Spain following an increase in coronavirus cases. AFP via Getty Images Shares of TUI AG lowered travel inventories in Europe on Monday, following the weekend’s announcement by the UK government that any traveler from Spain would face around 40 14 days. The UK abruptly put Spain back on a dangerous travel list, amid a recent spike in Covid-19 cases in parts of the country. Norway has also imposed a quarantine on all Spanish vacationers, while France and Belgium have urged travelers to avoid beaches in the Catalonia region, where cases have increased. TUI shares fell 14%, followed by a 13% drop for easyJet. International Consolidated Airlines, which operates British Airways and other carriers, fell 8%, as did Ryanair, which separately reported a loss of € 185m for the end-June quarter which saw 99% of its traffic nailed to the ground. Carnival and InterContinental Hotels, Wizz Air and On The Beach also fell. TUI has reportedly canceled holidays until August 9 in mainland Spain, countering new outbreaks under control as it tries to save its important tourist season. Resurgences have not been observed in the most popular island destinations for British travelers, such as Ibiza and Mallorca. Ángel Víctor Torres, President of the Canary Islands tweeted on Saturday that the Spanish government is working with the UK to create secure corridors to the islands. Look forward. Unfortunately, this Spanish quarantine announcement is unlikely to be the last of its kind, with outbreaks across Europe likely to provide a summer stop-start for airlines as different regions attempt to shut down everything. surge at Covid-19, “said Joshua Mahony, senior market analyst at IG, in a note. And fears of more sudden changes in government travel policies will only hurt small surges in consumer confidence in travel, analysts at Jefferies warned in a note. This “could lead to a weaker late market (customers decide whether to stay or not to take a vacation) and a delayed booking cycle for next year,” said a team led by Becky Lane, who assesses the underperformance of TUI. A team of Citi analysts, led by James Ainley, reiterated a TUI sales note on Monday. The risk for the group of travelers is that “the advice remains in place for a longer period of time leading to further cancellations and, most importantly, the lingering uncertainty is likely to weigh on bookings.” Ryanair said on Monday that a “second wave of Covid-19 cases across Europe in late fall is our biggest fear right now.” No doubt, it is not the only one. .



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Lahore cinemas to resume after Muharram | Instant News


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Pakistan

AGR |
Daniyal Died – Published 27 July 2020, the | last updated: 47 mins ago

Published: 27 July 2020, the | last updated: 47 mins ago


Cinemas in Lahore will resume after the month of Muharram.

The district administration took the decision to extend the closure of the cinema and close their markets for the next 10 days, starting on Tuesday night.

Secretary of Lahore’s primary and secondary health Muhammad Usman will issue a notification on Monday evening. It was approved by the province of anti-coronavirus Committee of the Cabinet of Ministers.

According to the head of the government, he made the mistake of allowing markets to remain open in last EID, which led to a spike in cases of the coronavirus.

On topic: Zafar Mirza warns of mers surge in infections such as EID approaches

The province is also considering reducing the timings in the markets of cattle and putting a limit on intercity and inter province travel.

Punjab theatres, cinemas and restaurants will be open after Muharram.

This step in an attempt to contain the spread of coronavirus. Experts had predicted that Pakistan would see a spike in cases of the coronavirus in ID.

markets, cinemas, coronavirus, Lahore, eidul Azha, travel

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