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UPDATE 2-UK PM says foreign travel curbs to stay until at least mid-May

Mon, 22nd Feb 2021 16:49

* Govt to publish review on travel by April 12

* PM says review gives time for summer holiday bookings

* Airlines counting on summer after months of restrictions
(Adds airline, airport reaction, analyst comment, share price)

By Sarah Young

LONDON, Feb 22 (Reuters) - The ban on non-essential
international travel to and from England will stay until at
least May 17, Prime Minister Boris Johnson said on Monday,
prolonging the pain for airlines, airports and holiday companies
hit by the pandemic travel slump.

But would-be holidaymakers will be given clarity on making
plans for the summer by April 12, when a review on how to
restart travel safely will be published.

"The government will determine when international travel
should resume, which will be no earlier than 17 May," it said.

Johnson told parliament that meant there was still time for
Britons to plan summer holidays.

"I believe that setting a deadline of April 12 for the
report ... will give people time to make their plans for summer
and if things go well ... then I do believe there is every
chance of an aviation recovery later this year," he said.

Airlines are counting on a summer recovery after close to a
year with minimal revenues due to travel restrictions. If they
cannot, analysts say most airlines will need to raise more funds
to survive after burning through their cash reserves.

Responding to the government's plans, easyJet
welcomed reassurances that travel would re-open, while British
Airways said it was pleased the government had
acknowledged it was critical to find a way to restart travel.

Shares in both companies closed up 7%, outperforming a 4%
rise in Europe's travel and leisure sector.

But aviation consultant John Strickland said the timeline
was negative for airlines, given certainty on travel was months
away at a time when bookings would usually be flooding in.

"We're already two months into the year so we've lost two
months already. On this news we're going to lose another two
months," he said.

"A number of airlines are already projecting that at least
the first half of summer is pretty well written off and
projecting at best there might be some resurgence of traffic in
the late summer."

The trade body for Britain's airports also said the May 17
date was a blow.

"As the worst-hit economic sector in 2020, this will ensure
we will also be the worst-hit sector of 2021," Airport Operators
Association Chief Executive Karen Dee said.

VARIANTS OF CONCERN

The April review will provide recommendations about when and
how full international travel should resume, while managing the
risks of new variants of coronavirus.

Much will depend on the spread of variants deemed "of
concern", as well as vaccine roll-outs at home and abroad.

Britain tightened its borders earlier in February,
introducing additional COVID-19 testing requirements and hotel
quarantines for arrivals from some countries over worries about
new variants that might be more resistant to current vaccines.

Unwinding restrictions could involve making greater use of
the test to release scheme, under which those arriving from
abroad pay for a test to shorten a 10-day quarantine.

The government is also looking at a system of allowing
vaccinated people to travel more freely abroad, it said.

But such a system would have to be fair and not unduly
disadvantage those who have not been vaccinated, it said,
warning it would take time to implement.

Britain is looking at providing a clear framework for
international travel standards with the World Health
Organization and other partners, the government added.
(Reporting by Sarah Young. Editing by Elizabeth Piper and Mark
Potter)

More News
16 Jul 2023 11:44

Sunday newspaper round-up: Tesco, Green Agenda, EasyJet

(Sharecast News) - Tesco is leaning on its suppliers so that they pass on savings from falling costs so that it can reduce prices more quickly than rivals and thus lead on price cuts. Among other factors, on Thursday Tesco pointed to a halviing in wholesale electricity prices, a 22% reduction in PET packaging and an 84% fall in the cost of freight. Suppliers however said that other costs had continued to rise - not least wages. And in response to prodding by MPs, Asda co-owner, Mohsin Issa, has cautioned that fixed-term contracts meants that three to nine more month would be needed before customers benefitted from falling prices. - The Sunday Times

Read more
14 Jul 2023 14:37

Strikes at Britain's Gatwick Airport could hit summer holidays

950 workers to strike in pay dispute

*

Read more
13 Jul 2023 15:57

UK earnings, trading statements calendar - next 7 days

Friday 14 July 
Ashmore Group PLCTrading Statement
Burberry Group PLCTrading Statement
Liontrust Asset Management PLCTrading Statement
McBride PLCTrading Statement
Ninety One PLC and LtdTrading Statement
Monday 17 July 
Brickability Group PLCFull Year Results
Gore Street Energy Storage Fund PLCFull Year Results
Northern Bear PLCFull Year Results
Tuesday 18 July 
Arbuthnot Banking Group PLCHalf Year Results
Artisanal Spirits Co PLCTrading Statement
IntegraFin Holdings PLCTrading Statement
Luceco PLCTrading Statement
Midwich Group PLCTrading Statement
Ocado Group PLCHalf Year Results
Petra Diamonds LtdTrading Statement
Record PLCTrading Statement
Rio Tinto PLCTrading Statement
Wise PLCTrading Statement
Wednesday 19 July 
Antofagasta PLCTrading Statement
BHP Group LtdTrading Statement
Hargreaves Lansdown PLCTrading Statement
Severn Trent PLCTrading Statement
Redcentric PLCFull Year Results
Thursday 20 July 
3i Group PLCTrading Statement
AJ Bell PLCTrading Statement
Anglo American PLCTrading Statement
Babcock International Group PLCFull Year Results
BHP Group LtdTrading Statement
Diploma PLCTrading Statement
Dunelm Group PLCFull Year Results
easyJet PLCTrading Statement
Howden Joinery Group PLCHalf Year Results
IG Group Holdings PLCFull Year Results
Intermediate Capital Group PLCTrading Statement
International Distributions Services PLCTrading Statement
Kier Group PLCTrading Statement
PensionBee Group PLCTrading Statement
Pharos Energy PLCTrading Statement
Premier Miton Group PLCTrading Statement
SSE PLCTrading Statement
Taylor Maritime Investments LtdFull Year Results
Vistry Group PLCTrading Statement
Volution Group PLCTrading Statement
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
13 Jul 2023 13:19

UK minister to meet easyJet CEO after warning of flight cancellations

(Alliance News) - The UK aviation minister is "meeting with the CEO of easyJet [PLC] later today" the Transport Secretary has said, amid the company's announcement over summer flight cancellations.

Read more
12 Jul 2023 09:27

LONDON BROKER RATINGS: UBS raises AstraZeneca; RBC cuts Bunzl

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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11 Jul 2023 21:37

Ryanair quits industry group advising on UK aviation strategy

DUBLIN, July 11 (Reuters) - Ryanair on Tuesday resigned from an industry group set up by the British government to help implement its aviation strategy, dismissing it as a "talking shop" which has delivered no benefits or reforms for passengers.

Read more
11 Jul 2023 18:36

Ryanair quits industry group advising on UK aviation strategy

DUBLIN, July 11 (Reuters) - Ryanair on Tuesday resigned from an industry group set up by the British government to help implement its aviation strategy, dismissing it as a "talking shop" which has delivered no benefits or reforms for passengers.

Read more
10 Jul 2023 13:20

easyJet cancels 1,700 flights due to air traffic control restrictions

(Alliance News) - More than 100,000 holidaymakers have been hit by easyJet PLC summer flight cancellations.

Read more
10 Jul 2023 11:13

EasyJet cancels 1,700 flights over the summer season

(Sharecast News) - Low-cost airline easyJet announced the cancellation of 1,700 flights over the summer period on Monday.

Read more
6 Jul 2023 13:29

Spain's election brings clouds over fiscal consolidation

German industrial orders rose more than expected

*

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6 Jul 2023 12:05

European companies might turn to India more: GS

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at

EUROPEAN COMPANIES MIGHT TURN TO INDIA MORE: GS (1105 GMT)

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UK bank provisions "likely contained" in face of mortgage delinquencies - JPM

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at

UK BANK PROVISIONS "LIKELY CONTAINED" IN FACE OF MORTGAGE DELINQUENCIES - JPM (1009 GMT)

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6 Jul 2023 09:28

Sectors flash red as STOXX stays risk-off

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SECTORS FLASH RED AS STOXX STAYS RISK-OFF (0820 GMT)

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3 Jul 2023 17:42

Italy minister wants airlines to explain "unjustified" fare hikes

ROME, July 3 (Reuters) - Italy's Industry Minister Adolfo Urso said on Monday that airlines benefiting from the country's tourist boom have hiked their prices too much, and demanded an explanation.

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3 Jul 2023 09:37

LONDON BROKER RATINGS: Stifel cuts Croda International to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

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