U.S. Travel Shares Climb After China Eases Covid Quarantine Rules
By Scott Kanowsky
Investing.com -- Shares in U.S. airlines and travel industry firms rose on Tuesday after China announced that it will scale back its Covid travel restrictions.
Beijing said that the required Covid quarantine period for overseas visitors to the Chinese mainland will be slashed to seven days, with three further days of home monitoring. The move comes as China has imposed harsh rules in a bid to squelch Covid infections entirely, casting uncertainty over the outlook for international travel to the world's second-biggest economy.
Several U.S. carriers saw their shares climb in early deals. United Airlines Holdings Inc (NASDAQ: UAL ) and Delta Airlines (NYSE: DAL ) increased by more than 5%, while American Airlines (NASDAQ: AAL ) and Alaska Air (NYSE: ALK ) also jumped.
Meanwhile, planemaker Boeing (NYSE: BA ), online travel shopping website Expedia (NASDAQ: EXPE ), and cruise operator Royal Caribbean (NYSE: RCL ) were all also higher following the news.
Elsewhere, Walt Disney (NYSE: DIS ) said it will be reopening Shanghai Disneyland on Thursday following the lifting of a two-month lockdown in the city. The theme park and resort will resume daily operations with limited capacity.
Disney shares gained more than 3% after the announcement.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or