Airline Shares Off Sharply After Trump Imposes Travel Limits

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Airline shares tumbled on Thursday morning immediately after President Trump prohibited most vacationers from 26 European nations from visiting the United States for 30 times.

The 3 major U.S. airlines that fly trans-Atlantic routes — United Airways, Delta Air Lines and American Airways — all fell far more than 10 p.c in early buying and selling. Already reeling from a steep decrease in bookings for the reason that of the coronavirus outbreak, the airlines now stand to get rid of hundreds of thousands of dollars in revenue from trans-Atlantic flights, which account for a major chunk of their global company.

Confusion reigned after Mr. Trump’s announcement, with frantic vacationers having difficulties to fully grasp the implications of the ban and airlines racing to regulate functions on tiny observe in advance of its implementation on Friday night time.

Delta Air Strains mentioned it would waive improve costs for all shoppers traveling to, from or as a result of Europe and the United Kingdom by Might. American Airlines, which operates 15 each day flights from the components of Europe afflicted by the ban, explained that it was “committed to getting treatment of any afflicted prospects by helping them with rebooking” and that it was achieving out to those people influenced.

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