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US Airlines’ Shares Soar After EU Lifts Travel Ban on Americans

Shares of US airlines rose in premarket trading on Friday after the European Union agreed to lift restrictions on non-essential travel for US citizens across EU member states.

According to the New York Times and Bloomberg, European Union member states decided on Friday to add the United States to a “white list” of countries, suggesting that each country allow individual restrictions on American travelers if they decide to place any restrictions.

The European Commission has reportedly been pressured to ease restrictions by countries that rely heavily on tourism, including Spain, Italy and Portugal, which are trying to salvage the summer season, reports.

European Union representatives had agreed on Wednesday to recommend an end to the entry ban on American travelers, imposed since the outbreak of the pandemic last year, with that decision reportedly being official on Friday. Shares of American Airlines, Delta and United Airlines rose about 1 percent each in pre-market trading.

The decision to lift the entry ban followed a statement by Ursula von der Leyen, number one in the European Union Commission, who indicated last April that similar to Europeans, Americans are being vaccinated with vaccines authorized by the European Medical Agency. Therefore, according to her, there is no reason to prevent American tourists from pursuing their summer holidays in their destinations in the European Union.

The implementation of the EU passport for COVID-19 vaccination has positively impacted the process considering that more than 40 percent of the American population has been fully vaccinated. So far, the country has provided at least 311,886,674 doses of the coronavirus vaccine, an average of about 1,111,866 doses taken daily over the past week.

The World Travel and Tourism Council (WTTC) has welcomed the European Union’s decision to allow Americans to return to EU member states, viewing the decision as “encouraging news”.

“Today’s announcement from the European Union advising member states to begin welcoming the return of travel to the United States is the latest encouraging news from world leaders as we all work to revitalize the global travel and tourism sector. Virginia Messina, Vice President of WTTC, noted in a press release that reopening Tourism and business pathways between countries within the European Union and the United States is an important step in providing much needed support to the economy and labor market across all parties involved Released 17 June.

Among the many, Spain, Italy, France, Greece, Cyprus and Denmark are allowing American tourists to enter their countries without undergoing quarantine. This week, France and Germany also joined the latter, lifting travel bans on all vaccinated US citizens.

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