Crew members and Singapore Airlines passengers at Singapore Changi Airport transit hall on January 14, 2021.
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SINGAPORE – Shares of Singapore Airlines jumped on Monday after the city-state confirmed it was in talks with Australia to set up an air travel bubble.
Shares of Singapore Airlines rose 5.28% in commercial transactions in the early afternoon, after rising 8.49% earlier in the day. Shares of airlines, such as SATS, a subsidiary that provides in-flight catering services, rose 3.43%, while SIA Engineering rose 5.12%.
Australian flag carrier Qantas gained 3.4%.
An air travel bubble would allow people in Singapore and Australia to travel between the two countries without the need for quarantine. International travel routes have remained relatively limited since global borders were closed last year due to the Covid-19 pandemic.
Both Singapore and Australia appear to have brought the infection under relative control while vaccination programs are underway.
“Singapore is currently in talks with Australia on mutual recognition of vaccination certificates and the resumption of priority travel for students and business travelers,” Singapore’s Foreign Ministry said on Sunday.
“We are also discussing the possibility of an air travel bubble that would allow people in Singapore and Australia to travel between the two countries without the need for quarantine,” the ministry said.
Australian citizens can transit through Singapore without quarantine to return home if they travel on approved transit routes and comply with the state’s public health protocols, the statement added.
Australian Deputy Prime Minister Michael McCormack told local media on Monday that Canberra is potentially considering July for the Singapore balloon. But, according to a transcript of his remarks, he added that although the talks are productive, the talks are in their infancy.
Global tourism has a beating
Singapore’s tourism sector declined sharply in the first nine months of 2020, according to the tourism authority. International visitor arrivals fell by 81.2% to just 2.7 million from last year, and tourism revenues fell by 78.4% to Singapore’s $ 4.4 billion (3.27 billion). dollars).
The city-state has previously tried to create an air travel bubble with Hong Kong since last year. But it was postponed after Hong Kong reported a reappearance in the new Covid-19 cases.
Last week, Singapore’s transport minister, Ong Ye Kung, told CNBC that the country is not giving up trying to reach an agreement on travel bubbles with Hong Kong.
Singapore has allowed visitors from certain places, including Australia, New Zealand, mainland China and Taiwan, to jump out of quarantine if they meet certain requirements – such as a negative Covid-19 polymerase chain reaction (PCR) test on arrival.