'‘Massive Shock’ and Battered Airline Stocks in Europe With Trump’s Travel Ban' diff viewer (9/10)

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‘Massive Shock’ and Battered Airline Stocks in Europe With Trump’s Travel Ban	‘Massive Shock’ and Battered Airline Stocks in Europe With Trump’s Travel Ban
2020-06-06 03:28:16 UTC	2020-06-09 09:16:22 UTC (3 days later)
PARIS — President Trump’s abrupt decision to shut America’s borders to most European travelers sowed chaos at the Continent’s airports and at travel-related businesses Thursday, as airlines scrambled to figure out how to halt flights to the United States and governments warned of potentially devastating financial costs.	PARIS — President Trump’s abrupt decision to shut America’s borders to most European travelers sowed chaos at the Continent’s airports and at travel-related businesses Thursday, as airlines scrambled to figure out how to halt flights to the United States and governments warned of potentially devastating financial costs.
The French finance minister, Bruno Le Maire, spoke of a “massive shock,” and European officials reacted angrily after Mr. Trump late Wednesday announced that he would suspend travel from Europe to the United States for 30 days starting Friday, with the exception of Britain. The State Department warned Americans that they should reconsider all international travel, the most severe caution it can offer short of “do not travel.”	The French finance minister, Bruno Le Maire, spoke of a “massive shock,” and European officials reacted angrily after Mr. Trump late Wednesday announced that he would suspend travel from Europe to the United States for 30 days starting Friday, with the exception of Britain. The State Department warned Americans that they should reconsider all international travel, the most severe caution it can offer short of “do not travel.”
“The European Union disapproves of the fact that the U.S. decision to impose a travel ban was taken unilaterally and without consultation,” the European Commission said.	“The European Union disapproves of the fact that the U.S. decision to impose a travel ban was taken unilaterally and without consultation,” the European Commission said.
The move hammered shares of European airline and travel companies as the sector braced for a nearly unprecedented brake on activity. Stocks for Air France, Lufthansa and IAG, the owner of British Airways and Iberia, fell as much as 13 percent. In early trading in the United States, American Airlines fell about 14 percent, and Delta Air Lines fell about 12 percent.	The move hammered shares of European airline and travel companies as the sector braced for a nearly unprecedented brake on activity. Stocks for Air France, Lufthansa and IAG, the owner of British Airways and Iberia, fell as much as 13 percent. In early trading in the United States, American Airlines fell about 14 percent, and Delta Air Lines fell about 12 percent.
The International Air Transport Association urged “emergency measures” for airlines, saying the ban on European nationals entering the United States would create enormous cash-flow pressures for carriers and “create negative consequences across the economy.”	The International Air Transport Association urged “emergency measures” for airlines, saying the ban on European nationals entering the United States would create enormous cash-flow pressures for carriers and “create negative consequences across the economy.”
“Governments must recognize this and be ready to support,” Alexandre de Juniac, the association’s director general, said in a statement.	“Governments must recognize this and be ready to support,” Alexandre de Juniac, the association’s director general, said in a statement.
At Charles de Gaulle airport in Paris, frantic passengers jammed the Delta Air Lines counter in the morning seeking return flights to the United States.	At Charles de Gaulle airport in Paris, frantic passengers jammed the Delta Air Lines counter in the morning seeking return flights to the United States.
Salomé Carasco, an American studying in Paris, said her parents had called her at 2 a.m., soon after Mr. Trump’s announcement, asking her to return home. “I understand that they are trying to stop” the virus’s spread, she said, “but the reaction is intense.”	Salomé Carasco, an American studying in Paris, said her parents had called her at 2 a.m., soon after Mr. Trump’s announcement, asking her to return home. “I understand that they are trying to stop” the virus’s spread, she said, “but the reaction is intense.”
Air France, which operates 121 flights weekly between the United States, said on Thursday that it would fly only a handful of routes from Friday until March 28 and was working on a plan to operate beyond that. The French government said it was ready to provide state aid — an extraordinary step normally forbidden under European Union rules.	Air France, which operates 121 flights weekly between the United States, said on Thursday that it would fly only a handful of routes from Friday until March 28 and was working on a plan to operate beyond that. The French government said it was ready to provide state aid — an extraordinary step normally forbidden under European Union rules.
“The impact will multiply very rapidly in the hours and days to come,” said Roland Héguy, president of the Umih, the French trade association of hotels and restaurants. “Many countries will be hit,” he said, adding that 95 percent of hotels, cafes and restaurants in France were already suffering revenue declines of up to 40 percent because of the coronavirus.	“The impact will multiply very rapidly in the hours and days to come,” said Roland Héguy, president of the Umih, the French trade association of hotels and restaurants. “Many countries will be hit,” he said, adding that 95 percent of hotels, cafes and restaurants in France were already suffering revenue declines of up to 40 percent because of the coronavirus.
Given how much economic damage has already been done in Europe from the epidemic, some economists said the travel ban, while shocking, would not meaningfully deepen the downturn — and might even help hasten a recovery.	Given how much economic damage has already been done in Europe from the epidemic, some economists said the travel ban, while shocking, would not meaningfully deepen the downturn — and might even help hasten a recovery.
“Considering all the other restrictions on movement already in place in Europe, in and of itself the ban is not a huge economic event,” said Holger Schmieding, chief economist at Berenberg Bank. “You could even argue that it is a blessing in disguise if it has the effect of slowing the spread in the United States,” he said.	“Considering all the other restrictions on movement already in place in Europe, in and of itself the ban is not a huge economic event,” said Holger Schmieding, chief economist at Berenberg Bank. “You could even argue that it is a blessing in disguise if it has the effect of slowing the spread in the United States,” he said.
Because the epidemic is a medical emergency, he added, the most important thing governments can do to to ensure economic recovery is to prevent the virus from spreading more widely, even if it inflicts financial pain on companies.	Because the epidemic is a medical emergency, he added, the most important thing governments can do to to ensure economic recovery is to prevent the virus from spreading more widely, even if it inflicts financial pain on companies.
“At the moment, significant short-term economic costs should be incurred if it helps with the medical emergency,” he said. “If it slows the spread of the epidemic to give us enough time to cope, that would be very valuable.”	“At the moment, significant short-term economic costs should be incurred if it helps with the medical emergency,” he said. “If it slows the spread of the epidemic to give us enough time to cope, that would be very valuable.”
Nonetheless, the abrupt travel ban threatened a further blow to tourism-dependent industries on both sides of the Atlantic, and added to the problems of world leaders trying to preserve jobs in the face of the relentless coronavirus outbreak.	Nonetheless, the abrupt travel ban threatened a further blow to tourism-dependent industries on both sides of the Atlantic, and added to the problems of world leaders trying to preserve jobs in the face of the relentless coronavirus outbreak.
European airlines were already grappling with a mounting financial toll after curtailing flights from Europe and to Asia, and had started cutting trans-Atlantic routes as travelers increasingly chose to stay home. Still, the industry will take an immediate hit. The International Air Transport Association on Thursday indicated that its estimate of a $113 billion decline in airline revenue from the coronavirus crisis was likely to rise.	European airlines were already grappling with a mounting financial toll after curtailing flights from Europe and to Asia, and had started cutting trans-Atlantic routes as travelers increasingly chose to stay home. Still, the industry will take an immediate hit. The International Air Transport Association on Thursday indicated that its estimate of a $113 billion decline in airline revenue from the coronavirus crisis was likely to rise.
The European Union, and countries including Italy, Germany and Britain, have pledged over 70 billion euros in aid this week alone to support health systems and prevent an economic domino effect as the coronavirus epidemic puts a chilling effect on businesses.	The European Union, and countries including Italy, Germany and Britain, have pledged over 70 billion euros in aid this week alone to support health systems and prevent an economic domino effect as the coronavirus epidemic puts a chilling effect on businesses.
But efforts to support businesses didn’t stop questions from swirling about the possibility of layoffs. Norwegian Air said it would temporarily lay off half its staff and cancel 4,000 flights until the end of May as the travel restrictions to the United States put “extra pressure on an already difficult situation.”	But efforts to support businesses didn’t stop questions from swirling about the possibility of layoffs. Norwegian Air said it would temporarily lay off half its staff and cancel 4,000 flights until the end of May as the travel restrictions to the United States put “extra pressure on an already difficult situation.”
In Rome, Ciampino Airport, a hub for low-cost airlines, announced Thursday that it would shutter entirely as of Friday because of the outbreak. Fiumicino Airport in Rome, which hosts international flights, is bracing for reduced activity, its operator said.	In Rome, Ciampino Airport, a hub for low-cost airlines, announced Thursday that it would shutter entirely as of Friday because of the outbreak. Fiumicino Airport in Rome, which hosts international flights, is bracing for reduced activity, its operator said.
At the Paris airport, Nadia Hamnache, an employee at Safe Bag, a company that sells protective wrap for luggage, said there were already far fewer travelers, with up to 50 percent fewer people visiting shops in Terminal 2E, the hub for Air France and Delta flights. “We’re really afraid of a reduction or canceling of Air France flights, because that impacts us directly,” she said. “If the cancellation of flights continues, we’ll have a loss of revenue.”	At the Paris airport, Nadia Hamnache, an employee at Safe Bag, a company that sells protective wrap for luggage, said there were already far fewer travelers, with up to 50 percent fewer people visiting shops in Terminal 2E, the hub for Air France and Delta flights. “We’re really afraid of a reduction or canceling of Air France flights, because that impacts us directly,” she said. “If the cancellation of flights continues, we’ll have a loss of revenue.”
Updated June 5, 2020	Updated June 5, 2020
	A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.
The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.	The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.
Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission.	Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission.
Exercise researchers and physicians have some blunt advice for those of us aiming to return to regular exercise now: Start slowly and then rev up your workouts, also slowly. American adults tended to be about 12 percent less active after the stay-at-home mandates began in March than they were in January. But there are steps you can take to ease your way back into regular exercise safely. First, “start at no more than 50 percent of the exercise you were doing before Covid,” says Dr. Monica Rho, the chief of musculoskeletal medicine at the Shirley Ryan AbilityLab in Chicago. Thread in some preparatory squats, too, she advises. “When you haven’t been exercising, you lose muscle mass.” Expect some muscle twinges after these preliminary, post-lockdown sessions, especially a day or two later. But sudden or increasing pain during exercise is a clarion call to stop and return home.	Exercise researchers and physicians have some blunt advice for those of us aiming to return to regular exercise now: Start slowly and then rev up your workouts, also slowly. American adults tended to be about 12 percent less active after the stay-at-home mandates began in March than they were in January. But there are steps you can take to ease your way back into regular exercise safely. First, “start at no more than 50 percent of the exercise you were doing before Covid,” says Dr. Monica Rho, the chief of musculoskeletal medicine at the Shirley Ryan AbilityLab in Chicago. Thread in some preparatory squats, too, she advises. “When you haven’t been exercising, you lose muscle mass.” Expect some muscle twinges after these preliminary, post-lockdown sessions, especially a day or two later. But sudden or increasing pain during exercise is a clarion call to stop and return home.
States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.	States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.
Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.	Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.
Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.	Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.
If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)	If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)
Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications.	Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications.
The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing.	The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing.
If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.	If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.
If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested.	If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested.
Employees were worried that they might be told to stay home, she added. “If we’re still paid, that’s OK, but if they don’t pay us that’s going to be a huge problem,” she said.	Employees were worried that they might be told to stay home, she added. “If we’re still paid, that’s OK, but if they don’t pay us that’s going to be a huge problem,” she said.
In Spain, which has about 400 flights a week with the United States, the main airline association called for immediate financial help from the government. “Airlines are now in survival mode, facing a fall in demand that is without precedent,” Javier Gándara, the president of the Asociación de Líneas Aéreas, said in a phone interview.	In Spain, which has about 400 flights a week with the United States, the main airline association called for immediate financial help from the government. “Airlines are now in survival mode, facing a fall in demand that is without precedent,” Javier Gándara, the president of the Asociación de Líneas Aéreas, said in a phone interview.
European visitors to the United States, excluding those from Britain, totaled nearly 11 million in 2018, accounting for more than a quarter of all travelers. Travel and tourism between the United States and Europe, including areas not covered by the ban, is a business totaling roughly $130 billion annually, according to U.S. data.	European visitors to the United States, excluding those from Britain, totaled nearly 11 million in 2018, accounting for more than a quarter of all travelers. Travel and tourism between the United States and Europe, including areas not covered by the ban, is a business totaling roughly $130 billion annually, according to U.S. data.
Travel agencies and tour operators also scrambled for solutions to withstand the impact.	Travel agencies and tour operators also scrambled for solutions to withstand the impact.
“It’s absolutely catastrophic,” said Jean-Pierre Mas, president of Entreprises du Voyage, a union representing the main French tour operators.	“It’s absolutely catastrophic,” said Jean-Pierre Mas, president of Entreprises du Voyage, a union representing the main French tour operators.