Airline optimism boosts shares of Asia-Pacific airlines

SINGAPORE – Shares of Asia-Pacific airlines were on the move Tuesday after a wave of announcements largely boosted the outlook for international air travel.

Shares of Australia Qantas Airways jumped 2.55% while those of Air New Zealand climbed around 6%.

These actions increased when New Zealand Prime Minister Jacinda Ardern announced that the “travel bubble” between her country and Australia will begin on April 19.

Meanwhile, Singapore’s aviation regulator said that from May the country would start accepting travelers who use the International Air Transport Association (IATA) mobile pass for pre-screening. departure. Singapore Airlines shares rose about 0.2% in trading on Tuesday.

“Having the confidence of an aviation leader like Singapore in the IATA Travel Pass is extremely important,” said Willie Walsh, IATA chief executive, in a statement.

“The ongoing trials have set us on the right track for the IATA Travel Pass to become a vital tool in restarting the industry by providing governments with verified travel health credentials. And travelers. can have complete confidence that their personal data is secure and under their own control, ”said Walsh.

Elsewhere, shares of Korean Air Lines were flat, while shares of Japanese airlines lagged the region. Japan Airlines fell 2.44% while ANA Holdings fell 2.19%.

Local media reported that Covid-19 near-emergency measures were implemented from Monday in several prefectures in Japan in a bid to stem a resurgence of infections.

The air travel industry has been among the sectors hardest hit by the coronavirus pandemic as authorities around the world tightened border restrictions to curb the spread of the virus.