The Travel Industry is Getting Hit Again. Can it Take it?

With the rise of Omicron case counts around the world, the travel industry is facing blows to its recovery. Industry leaders are making clear that tighter government rules around travel, as well as customer anxieties, are having an impact. In a letter to UK Prime Minister Boris Johnson, the chief executives of British Airways, Virgin Atlantic, Ryanair (RYAAY) and easyJet said "haphazard and disproportionate" travel restrictions risk "permanent scarring" of the industry. Willie Walsh, head of the International Air Transport Association, said that when new variants are discovered, airlines bear the brunt of the economic damage. However, CNN reports that despite the uncertainty, COVID-19-fatigued passengers are determined to keep flying, which may limit the negative impact. The U.S. Transportation Security Administration is still preparing for a spike of travelers over the holidays, with around 2.1m people passing through airport security checkpoints on 12DEC, said CNN.

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