By Dhirendra Tripathi
Investing.com – Shares of both European and U.S. airlines rose Monday on a report that the Biden administration plans to relax rules for vaccinated travelers from the EU and the U.K.
According to a report in Financial Times, the Biden administration’s new travel policy will be effective in November. The announcement is likely to be made today, the report said.
Shares of British Airways-owned IAG (LON: ICAG ) surged 9.5% in London while EasyJet (LON: EZJ ) and Ryanair (LON: RYA ) gained 4.2% and 2%, respectively. Air France KLM (PA: AIRF ) climbed 6.2% in Paris while Deutsche Lufthansa (DE: LHAG ) rose 5.7% in German trading.
On the NYSE, American Airlines (NASDAQ: AAL ), United Airlines (NASDAQ: UAL ) and Delta Air Lines (NYSE: DAL ) each traded around 1% higher. Southwest Airlines (NYSE: LUV ) and JetBlue (NASDAQ: JBLU ), both more focused on the U.S. market, traded slightly lower.
Those involved in clinical trials for vaccines that are not yet approved in the U.K. will also be allowed to enter the U.S., a policy covering around 40,000 people, the FT said.
According to the report, the Biden administration is working on a travel policy to cover all international travel, intended to replace the current system of bans and restrictions that apply to different parts of the world.
Under the current policy, only American citizens, their immediate families, green card holders and those with national interest exemptions can travel to the U.S. if they have been in the U.K. or EU in the previous 14 days.
The White House’s change of heart comes on the eve of the United Nations General Assembly meeting in New York.
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