UNITED AIRLINES HOLDINGS, INC.

(UAL)
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Delayed Nasdaq  -  05/20 04:00:00 pm EDT
43.55 USD   -1.49%
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US blocks flights by Chinese airlines in escalating dispute

01/21/2022 | 03:20pm EDT

WASHINGTON (AP) — The United States moved Friday to block 44 flights to the U.S. by Chinese airlines in retaliation for China forcing the cancellation of flights by U.S. airlines.

The Transportation Department order affecting four Chinese airlines is the latest development in a long-running dispute over COVID-19 restrictions.

China previously barred some inbound flights by Delta Air Lines, United Airlines and American Airlines after passengers on earlier flights tested positive for the virus. The U.S. maintains that China’s actions violated a treaty over access to each country by the other country’s airlines.

The Transportation Department said that China’s move to block 44 flights by U.S. carriers was “adverse to the public interest and warrant proportionate remedial action by the department.”

The department said that China's regulations are unfair because passengers who test negative for the virus before their flight but positive up to seven days later can result in future flights being canceled.

The U.S. order limits flights between Jan. 30 and March 29 by Air China, China Eastern Airlines, China Southern Airlines and Xiamen Airlines.

The dispute over flights goes back to 2020 and the early days of the pandemic. In 2020, the Trump administration backed down from a threat to block four Chinese airlines after China agreed to let United and Delta operate a limited number of flights.

The spat flared again in August 2021, when the U.S. Transportation Department limited the number of passengers on some Chinese flights to the U.S. after China imposed similar limits on United. In December, Delta blamed new Chinese restrictions when a plane bound for Shanghai returned to Seattle.

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

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DELTA AIR LINES, INC. -1.53% 38.64 Delayed Quote.-1.13%
UNITED AIRLINES HOLDINGS, INC. -1.49% 43.55 Delayed Quote.-0.53%
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Financials (USD)
Sales 2022 43 016 M - -
Net income 2022 -614 M - -
Net Debt 2022 23 170 M - -
P/E ratio 2022 -30,2x
Yield 2022 -
Capitalization 14 229 M 14 229 M -
EV / Sales 2022 0,87x
EV / Sales 2023 0,81x
Nbr of Employees 87 400
Free-Float 99,7%
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Number of Analysts 23
Last Close Price 43,55 $
Average target price 60,88 $
Spread / Average Target 39,8%
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Managers and Directors
J. Scott Kirby Chief Executive Officer & Director
Brett J. Hart President
Gerald Laderman Chief Financial Officer & Executive Vice President
Edward M. Philip Non-Executive Chairman
Linda P. Jojo Chief Digital Officer & Executive VP-Technology
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