After countries worldwide restricted travel to and from the United Kingdom over fears over a possibly more contagious variant of the coronavirus, the Airline sector collapsed on Monday, even though U.S. policymakers agreed to $15 billion in new stimulus funding for the sector.
In an attempt to smother an outbreak of a new mutation of the virus that has begun to spread rapidly in the London region, countries in Europe, as well as nations such as Canada and Saudi Arabia, started restricting their borders for travel and trade. In the U.S., the assistant health secretary, Brett Giroir, said the U.S. could also bar travel from the U.K.
The task force for the U.S. coronavirus was scheduled to meet Monday. European Union representatives were also expected to meet to decide how to cope with the new coronavirus variant.
Uk government Officials have said that they think the coronavirus variant is up to 70% more infectious. The calculation, however, is based on modeling and not laboratory experiments, the New York Times noted.
Over the weekend, videos on social media showed crowded train stations in London as people rushed to flee the city before new curfew steps took place in the area. The latest regulations are ahead of the holidays and as the United Kingdom, It aims to assess the trading conditions associated with its divergence from the EU before the end of the month.
In the U.K. At the end of January, the bloc technically left. Yet both sides settled on the terms of a post-Brexit world before the end of the year.
Meanwhile, in the United States, Carrier Stocks Get New Help, as, on the stock exchange, Delta Air Lines (DAL) dropped 1.3 percent. 2.5 percent was lost by American Airlines (AAL). 1.5 percent of United Airlines (UAL) give up.
Southwest (LUV) slipped 0.5 percent, among other airline stocks. JetBlue (JBLU) slipped by 0.8%.
U.S. senators, yesterday struck an agreement on $900 billion in additional coronavirus funding. The package will offer $15 billion to help keep airline personnel paid and bring back thousands of furloughed jobs after the last round of help ended on Sept. 30.
Since the pandemic slammed the industry earlier this year, airline stocks soared last month on promising data related to a coronavirus vaccine. Emergency usage permission for Pfizer (PFE) and Moderna vaccines has since been issued by the US (mRNA). Yet diseases continue to surge.