Travel stocks fall as Omicron spurs mass flight cancellations for fourth day

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:Shares of U.S. airlines and other travel-related companies fell on Monday as rising Omicron cases and weather-related problems forced the cancellation of hundreds more flights, leaving travelers stranded across the country during the holidays.Over 800 flights were canceled within, into, or out of the United

:Shares of U.S. airlines and other travel-related companies fell on Monday as rising Omicron cases and weather-related problems forced the cancellation of hundreds more flights, leaving travelers stranded across the country during the holidays.

That was on top of over 3,000 flight cancellations during the Christmas holiday weekend, typically a peak time for travel for Americans. Most airline stocks have rallied this year on hopes of a travel boom as travelers start visiting friends and family after dealing with pandemic-related restrictions last year.

Separately, the Shanghai government said on Monday that the country's aviation regulator would suspend two China Eastern Airlines Corp Ltd flights from New York to Shanghai from Jan. 3 due to rising COVID-19 cases.Shares of Norwegian Cruise Line Holdings, Royal Caribbean Cruises Ltd and Carnival Corp were down between 1.3per cent and 2.4per cent.

 

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