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RBC chief executive Mark Mahaney discusses the stock market surge amid discussions about the coronavirus vaccine, saying major travel industry stocks are “ vaccine derivatives. ”
An inaugural “travel bubble” will be launched later this month between Hong Kong and Singapore to restore travel links amid the coronavirus pandemic, officials said on Wednesday.
The plan kicks off Nov. 22, which would allow leisure travelers from the two cities to fly between themselves without having to quarantine themselves, which officials called a “world first.”
“This policy is not easy to come by,” Hong Kong Commerce and Economic Development Secretary Edward Yau Tang-wah said during the announcement, according to the South China Morning Post. “Whether the bubble can function and sustain itself properly will depend on the cooperation of all parties, including the participation of residents and their efforts to maintain social distancing.
THE FUTURE OF BUSINESS TRAVEL LIKELY AS CORONAVIRUS IMPROVES WORKING LIFE
According to the plan, tourists from either city must have nucleic acid tests before their flight, after arrival and before they return to prove they do not have COVID-19.
An inaugural “travel bubble” will be launched later this month between Hong Kong and Singapore to restore travel links amid the coronavirus pandemic, officials said on Wednesday. (iStock)
The plan will initially start with one flight per day in each city, with a quota of 200 passengers per flight. Singapore Airlines and Cathay Pacific will operate alternative flights after launch day.
The plan would then increase to two flights per day starting December 7.
Singapore Airlines said on Wednesday that it would not use its larger plane for the relaunch of the flight, but that it hopes it will be a “very good pilot” on how to resume international travel.
AIRLINES SURPRISE WITH TRAVEL OPTIONS AMID VIRUS RESURGENCE
Earlier this week, the airline reported its biggest quarterly loss due to continued impacts on air travel from the pandemic, the Post reported.
| Teleprinter | security | Latest | Change | Change% |
|---|---|---|---|---|
| CPCAY | CATHAY PACIFIC AIRWAYS LTD | 4.06 | +0.10 | + 2.65% |
| SINGY | SINGAPORE AIRL | 5.77 | +0.10 | + 1.67% |
Officials said the plan will be suspended for two weeks if Hong Kong or Singapore reports a seven-day moving average of more than five untraceable coronavirus infections.
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“Although we are starting small, this is an important step forward,” Singapore Transport Minister Ong Ye Kung told reporters. “It will be a useful reference for other countries and regions that have controlled the epidemic and are considering opening their borders.”
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The Associated Press contributed to this report.
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