Qantas A380 takes off from the runway in Saxony, Dresden on August 21, 2020
Tino Plunert | photo alliance | Getty images
SINGAPORE – Shares of Asian-Pacific airlines were on the move Tuesday after a wave of announcements significantly boosted the outlook for international air travel.
Shares of Australia’s Qantas Airways are up 3.14% on Tuesday, while shares of Air New Zealand are up 5.8%.
Those stocks soared when New Zealand Prime Minister Jacinda Ardern announced that the “travel bubble” between her country and Australia will begin April 19.
Meanwhile, Singapore’s aviation regulator said that starting in May, the country will accept travelers using the International Air Transport Association (IATA) mobile travel pass for pre-departure checks. Shares of Singapore Airlines were up 0.54% during Tuesday afternoon trading.
“Having an airline leader like Singapore’s confidence in the IATA Travel Pass is hugely important,” said Willie Walsh, IATA director general, in a statement.
“Through ongoing investigations, we are on track to make IATA Travel Pass a critical tool for the reboot of the industry by providing verified travel health credentials to governments. And travelers can have complete confidence that their personal data is secure and under their own control. stand, ”said Walsh. .
Elsewhere, shares of Korean Air Lines rose 0.18%, while shares of Japanese airlines lagged in the broader region. Japan Airlines fell 2.44% while ANA Holdings fell 2.31%.
Local media reported that quasi-emergency measures from Covid-19 have been implemented in several prefectures in Japan as of Monday in an effort to stop a flare-up of infections.
The aviation industry is one of the sectors hardest hit by the coronavirus pandemic as authorities worldwide tightened border restrictions to curb the spread of the virus.