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Air travel optimism is increasing aviation stocks in Asia and the Pacific

The Qantas A380 will take off on the runway in Saxony, Dresden on 21 August 2020

Tino Plunert | picture alliance | Getty Images

SINGAPORE – Aviation stocks in Asia and the Pacific were on the move on Tuesday, after a series of announcements greatly increased the prospects for international air travel.

Shares in Australia̵

7;s Qantas Airways rose 3.14% on Tuesday, while Air New Zealand’s shares rose 5.8%.

These stocks rose when New Zealand’s Prime Minister Jacinda Ardern announced that the ‘travel bubble’ between her country and Australia would begin on 19 April.

Meanwhile, the Singapore Aviation Authority said in early May, the country will begin accepting travelers using the International Air Transport Association (IATA) mobile travel card for pre-departure checks. Shares of Singapore Airlines rose 0.54% in trading on Tuesday afternoon.

“Having the confidence of an aviation leader like Singapore in the IATA Travel Pass is extremely important,” IATA Director-General Willie Walsh said in a statement.

“Ongoing testing puts us on the right track for the IATA Travel Pass to be a critical tool for the industry’s reboot by providing verified travel health information to governments. And travelers can have full confidence that their personal data is secure and under their own control,” said Walsh.

Elsewhere, shares of Korean Air Lines rose 0.18% higher, while Japan’s shares delayed the wider region. Japan Airlines fell 2.44% while ANA Holdings fell 2.31%.

Local media reported that Covid-19 measures in near-emergencies were implemented from Monday in several prefectures in Japan in an attempt to halt a resurgence of infections.

The aviation industry has been among the sectors hardest hit by the coronavirus pandemic as authorities globally tightened border restrictions to curb the spread of the virus.

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