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Pin to quick pickseasyJet Share News (EZJ)

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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)

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*

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Friday 12 May 
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CMO Group PLCFull Year Results
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CentralNic Group PLCFull Year Results
Cerillion PLCHalf Year Results
Currys PLCTrading Statement
Diploma PLCHalf Year Results
Equals Group PLCTrading Statement
Finsbury Growth & Income Trust PLCHalf Year Results
Instem PLCFull Year Results
JPMorgan Multi-Asset Growth & Income PLCFull Year Results
Westminster Group PLCFull Year Results
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Angling Direct PLCFull Year Results
boohoo Group PLCFull Year Results
Britvic PLCHalf Year Results
Burford Capital LtdFull Year Results
Cornerstone FS PLCFull Year Results
DCC PLCFull Year Results
Essentra PLCTrading Statement
Greggs PLCTrading Statement
Hyve Group PLCHalf Year Results
Imperial Brands PLCHalf Year Results
Land Securities Group PLCFull Year Results
Likewise Group PLCFull Year Results
Marston's PLCHalf Year Results
Renew Holdings PLCHalf Year Results
Smartspace Software PLCFull Year Results
Vodafone Group PLCFull Year Results
Zytronic PLCHalf Year Results
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Bank of Georgia Group PLCQ1 Results
British Land Co PLCFull Year Results
Experian PLCFull Year Results
JD Sports Fashion PLCFull Year Results
Keller Group PLCTrading Statement
Ninety One PLC and LtdFull Year Results
Redx Pharma PLCHalf Year Results
Sage Group PLCHalf Year Results
Scottish Mortgage Investment Trust PLCFull Year Results
TP ICAP Group PLCQ1 Results
Watches of Switzerland Group PLCTrading Statement
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ConvaTec Group PLCTrading Statement
easyJet PLCHalf Year Results
Energean PLCTrading Statement
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Helios Towers PLCQ1 Results
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Investec PLC and LtdFull Year Results
National Grid PLCFull Year Results
Nexus Infrastructure PLCHalf Year Results
Premier Foods PLCFull Year Results
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TheWorks.co.uk PLCTrading Statement
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Tyman PLCTrading Statement
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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*

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*

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