New strain of coronavirus hits air carriers

Due to the discovery of another type of coronavirus in the world, new restrictions on air travel between countries are being imposed. This has dealt a blow to airline ticket sales and triggered a drop in airlines' share prices - for example, the Bloomberg EMEA Airline Index has fallen by 18% this month. As John Strickland, head of JLS Consulting, noted, the adverse constraints came at a time when air carriers are seeking to improve liquidity and revenues. In addition, their finances have by now been depleted over the last difficult year and a half, he added. Falling shares will bring further problems because it will make it harder for them to raise capital. Israel has closed its borders for two weeks, Britain has reintroduced mandatory coronavirus tests for everyone arriving in the country. The Philippines halted flights to European countries for several weeks, and restrictive measures have also been imposed in Switzerland and Spain.