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IS: Europe's airlines and travel sector are bracing for a second lost summer, with rebound hopes increasingly challenged by a hobbled COVID-19 vaccine rollout, resurgent infections and new lockdowns.
FOR all the optimism about travel restarting as vaccines are rolled out, airline stocks still have a way to go to make up the ground they lost in the pandemic. It may take signs of a recovery in long-haul flights for the sector to make further gains.
IN theory, the system of free trade driving the world economy is supposed to provide a “level playing field” for all. In practice, countries have long complained that rivals unfairly dish out aid in the form of state-backed subsidies to boost favoured companies -- often as they themselves do the same.
BERLIN: The prospect of bailing out more companies battered by the coronavirus pandemic is opening up a split in the German government, with free marketeers resisting a push for increased state intervention, according to people familiar with the matter.
LONDON/NEW YORK: Short sellers betting against European and U.S. travel, leisure and bank stocks lost billions of dollars on Monday, after news of a COVID-19 vaccine triggered a rally in shares of companies that have suffered under months of virus-fueled restrictions and lockdowns.
BERLIN: Lufthansa on Thursday said it booked a net loss of 2 billion euros ($2.35 billion) in the third quarter due to the pandemic-related slump in travelling and announced further restructuring measures would weigh on fourth-quarter figures.
ABU Dhabi’s government has stumped up around $22 billion for Etihad Airways since it began flying in 2003, underscoring the ambition of the oil-rich emirate to turn its national carrier into a global player before the effort faltered in recent years.