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Market News
Travel Plans Cancelled, Delayed, As Infection Rate Hikes

Travel Plans Cancelled, Delayed, As Infection Rate Hikes

30-12-2021 07:32

ZFX - With less-than-functional amount of crew members, airlines all over the U.S. have cumulatively canceled nearly 1,200 flights. Also, several cruise ships had to cancel stops with some of the passengers testing positive. Looks like plans of thousands of Americans for Christmas and New Years are currently and actively being disrupted.

On the third day of the holiday weekend, travelling Americans are still feeling the hurt as a total of 997 flights were canceled on Christmas Day and nearly 700 on Christmas Eve, not to mention the thousands that were delayed for three days.

The Omicron variant coincidentally started to spread during Christmas holidays where most people choose to travel. As the numbers of infections soar, airlines are forced to cancel flights and crew members are quarantined.

There is also the addition of bad weather in some areas. adding to the frustration. A Delta spokesman said "winter weather in parts of the US and the Omicron variant continues to affect" its holiday weekend flight schedule, but it was working to "reroute and change aircraft and crew to get customers where they need to be as quickly and safely as possible. possible."

Overall, the US airports most affected were Seattle, Atlanta, Los Angeles, Dallas-Fort Worth, and JFK International in New York.

United Airlines said they are rebooking affected passengers after cancelling about 100 flights on Sunday.

"We did much better than last Christmas," said a White House official, "as only a small percentage of flights were affected."

Around the world, FlightAware data shows us that there were 2,824 flights canceled and more than 12,497 delayed.

Then, what is the impact on the shares of travel companies? Let's take Trip.com as an example.

Travel Plans Cancelled, Delayed, As Infection Rate Hikes
Graph taken from TradingView

TCOM stock, as one might expect, fell deeply as a result of the covid-19 and its endless new variants. Where technically, the daily stock price is below the MA 50, 100, and 200.

The down trendline in the chart above can also be a barrier to the increase in Trip.com shares and plus the confluence key level in the 28 area might be a turning point for TCOM's correction before falling again, at least to 21.75 as the latest support.

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