Since Russia invaded Ukraine, travel rules have rapidly changed across the EU–involving the closure of EU airspace, EU travel bans for specific people and a clamp down on second passport applications
Before the pandemic, Russia was the 11th largest market for air transport services and that included its domestic market. In contrast, IATA reported that Ukraine ranked 48.
In terms of impacts, IATA reported several possible travel outcomes from the conflict–that impacts would obviously be more severe in both countries plus neighboring areas. IATA added that “the impact on airline costs as a result of fluctuations in energy prices or rerouting to avoid Russian airspace could have broader implications. Consumer confidence and economic activity are likely to be impacted even outside of Eastern Europe.
Additionally, airfare from the U.S. to Europe is currently $770 for a round-trip, which is a 16% increase month on month from $663 for a round-trip on February 12th. Additionally, Hopper said that “higher jet fuel prices created by the Russia-Ukraine war are likely to create additional upward pressure on all airfare.”
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
China Watches Warily as Ukraine Makes U.S., EU and Japan Strengthen Their AllianceFor China, the speed with which the U.S. and its allies sanctioned Russia is a warning sign that could guide economic and foreign policy.
Weiterlesen »
EU and America FastTrack Crypto Regulation Due To Russia – Bear Market InevitableThis situation in Russia seems to have forced the hands of both the US and European authorities to hasten their proposed regulation of cryptocurrency. Now, we are expecting regulations from the US and Europe within this week and the next.
Weiterlesen »
Bank stocks are flashing red light for EU economyShares in the bloc’s lenders have dropped 23% since Russia invaded Ukraine. That’s greater than banks’ exposure to those countries, and more than wipes out an expected rate-hike boon. Investors fear rampant defaults and recession. Bank CEOs may have to start cutting costs again.
Weiterlesen »
Russia warns oil could hit $300 a barrel if US, EU cut off Russian oilRussia warns oil prices could hit $300 a barrel if the US and Europe reject Russian oil, says the move would have 'catastrophic consequences'
Weiterlesen »
EU to phase out Russian gas, oil, coal imports - leaders' draftEuropean Union leaders will agree at a summit this week to phase out the EU's dependency on imports of Russian gas, oil and coal, a draft statement showed, marking a turning point in its policy towards Moscow prompted by Russia's invasion of Ukraine.
Weiterlesen »
EU divided over Russian oil ban, Poland & others in favour and Germany facing growing pressure - BBGEU divided over Russian oil ban, Poland & others in favour and Germany facing growing pressure - BBG By Frank_Macro Europe Poland Germany RussianFederation
Weiterlesen »