HomeMarket NewsFlight disruptions across the UK caused by technical problem

Flight disruptions across the UK caused by technical problem

Actionable Trade Ideas

always free

British Airways Boeing 777 preparing for departure

Ceri Breeze

UK air traffic control authority, NATS, issued a warning on Monday stating that a technical issue had led to disruptions in flights throughout the country.

NATS alerted that due to the ongoing technical problem, traffic flow restrictions have been implemented to ensure safety. Engineers are actively working to identify and resolve the issue.

It should be noted that the UK airspace has not been closed, but these air traffic flow restrictions are in effect.

European airline stocks, including Ryanair (RYAAY), Lufthansa (OTCQX:DLAKY), Wizz Air (OTCPK:WZZAF), Air France KLM (OTCPK:AFRAF), easyJet (OTCQX:ESYJY), and International Consolidated Airlines Group (OTCPK:ICAGY), are showing mixed performance in afternoon trading in Europe.

Global airline forecast: Despite labor strikes, setbacks in jet manufacturing, and macroeconomic challenges, the International Air Transport Association (IATA) has projected that net profits for the airline industry will reach $9.8 billion in 2023, reflecting a substantial increase of over 100% from the previous forecast of $4.7 billion issued in December. Operating profits for the industry are expected to reach $22.4 billion in 2023, significantly surpassing the December forecast of $3.2 billion. In terms of passenger traffic, approximately 4.35 billion people are expected to travel in 2023, nearing the pre-pandemic figures of 4.54 billion in 2019. Additionally, cargo volumes are projected to be 57.8 million tonnes, slightly below the 61.5 million tonnes transported in 2019 due to reduced international trade activity. Total revenue for the airline industry is predicted to grow by 9.7% year over year, amounting to $803 billion. Expense growth is anticipated to be contained at an 8.1% annual increase. Strong booking demand and lower fuel prices have contributed to improved profitability across the sector, despite various economic pressures.

Source: Benzinga.com

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.