Airlines are scrambling to limit the impact of the latest coronavirus variant on their networks, while delays in bookings are threatening an already-fragile recovery for global tourism, Reuters reported. Shares in airlines bounced back with the rest of the market on Monday after a sharp sell-off on Friday when the discovery of a new coronavirus mutation took a heavy toll on stocks. The latest outbreak, first reported in southern Africa, dealt a blow to the industry just as it had recovery in its sights, especially following the easing of U.S.-bound travel. Multiple countries including Japan, the United States, Britain and Israel have imposed travel curbs in order to slow the spread of the Omicron coronavirus variant. "The hope for U.S. and European carriers had been that opening the Atlantic would allow them to operate long-haul routes on a cash-positive basis, but border restrictions make it even harder to get the demand in," said James Halstead, managing partner at consultancy Aviation Strategy. A pickup in long-haul traffic is seen critical for many carriers, which have been left with severely strained balance sheets following the plunge in air travel last year. Southern Africa accounts for only a tiny portion of the world's international travel, but sudden border restrictions and route suspensions have left some carriers with an uncertain future.
