New COVID variant leads to travel bans; hits travel stocks

INTERNATIONAL. The rapid spread of a new COVID-19 variant currently labelled B.1.1.529 has led to a sudden wave of new travel restrictions and hit stock market indexes around the world. Travel-related shares are in the frontline of the blast.

 The World Health Organization (WHO) is hosting a meeting today to assess the severity of the new variant.

Several European and Asian countries have tightened travel restrictions today after the variant was detected in South Africa. Some reports have suggested that B.1.1.529 (likely to be given the Latin name ‘Nu’ today by the WHO) may be more resistant to existing vaccines than its predecessors but that has not been confirmed by the WHO yet.

The BBC reports on growing travel bans around the world as concerns mount over the new variant. Click on the image to read.

Hong Kong’s Department of Health revealed the first two cases on Thursday, one involving a recent arrival from South Africa, the other another hotel quarantine guest living across the hall believed to have been infected by the former. Both were fully vaccinated.

UK media title The Guardian spells out the concerns over variant B.1.1.529. Click on the image to read the article.

In the UK, from midday today UK time, flights from South Africa, Namibia, Zimbabwe, Botswana, Lesotho and Eswatini into Britain will be banned until 04:00 GMT on Sunday with all those countries added to the UK’s red list.

Dufry was just one of many travel-related stocks to be hit hard today. Click on image to expand. Source: Google
Powerful European airlines group IAG also saw its stock tumble. Click to expand. Source: Google

Singapore’s Ministry of Health announced today that all travellers with recent travel history to Botswana, Eswatini, Lesotho, Mozambique, Namibia, South Africa and Zimbabwe will be prohibited from entering into or transiting through Singapore from 11.59pm on Saturday 27 November.

Singaporean media title The Straits Times reports on the latest crackdown today, accompanying the story with a stark image of Singapore Changi Airport’s arrivals hall. Click on the image to read the article.

According to the South China Morning Post, the variant has been found to have 32 spike protein mutations, compared with the 13 to 17 seen in the more prevalent Delta variant, according to some overseas research. Generally speaking, the higher the number of mutations – which are known to help the virus evade the body’s immune response – the greater the chances of infection, the report said.

Authorities in Hong Kong are calling for an end to people wearing ‘selfish’ valve-style face masks. Click on the image to read the full story.
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