Wall Street Jedi
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
Wall Street Jedi
No Result
View All Result
Home Investing

US government shutdown could cost travel sector $1 billion per week, disrupt holiday travel

by
December 21, 2024
in Investing
0
US government shutdown could cost travel sector $1 billion per week, disrupt holiday travel
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

By David Shepardson

WASHINGTON (Reuters) – A partial government shutdown could cost the U.S. travel industry $1 billion per week and lead to widespread disruptions for travelers, a trade group representing airlines, hotels and other travel companies said on Friday.

“A prolonged government shutdown threatens holiday travel disruptions that Americans won’t tolerate,” said U.S. Travel Association CEO Geoff Freeman. On Thursday, the head of the Transportation Security Administration warned an extended partial U.S. government shutdown could lead to longer wait times at airports.

A letter from more than two dozen aviation groups on Friday warned congressional leaders that a shutdown could have dire impacts on the Federal Aviation Administration.

“The FAA, its dedicated frontline workforce, our aviation community and our economy cannot afford a disruption, regardless of how long it lasts,” said the letter from Airlines for America, the Air Line Pilots Association and others.

TSA expects to screen a record 40 million passengers over the holidays after setting records over the Thanksgiving holiday.

Fitch Ratings said a shutdown “could also cause non-material operational disruptions at airports with non-essential FAA and TSA worker furloughed.”

TSA, which handles airport security screening, said about 59,000 of its 62,000 employees are considered essential and would continue working without pay in the event of a shutdown that would begin on Saturday unless the government reaches a funding deal.

Air traffic controllers and TSA officers are among the government workers who would be required to keep working but would not be paid.

“It’s hard to see how anyone in Congress wins if they force TSA workers, air traffic controllers, and other essential employees to work without pay during one of the busiest travel periods of the year,” said Freeman of the travel association whose members include United Airlines, Marriott, American Airlines (NASDAQ:AAL) and Hertz

The group said a survey found 60% of Americans would consider altering travel plans if a government shutdown occurs, with many choosing to cancel or avoid flights altogether.

Without a deal, the FAA estimated it would have to furlough more than 17,000 employees and halt training of air traffic controllers.

In 2019, during a 35-day shutdown, the number of absences by controllers and TSA officers rose as workers missed paychecks, extending checkpoint wait times at some airports. The FAA was forced to slow air traffic in New York, putting pressure on lawmakers to finally end the standoff.

This post appeared first on investing.com
Previous Post

US, Israeli officials deny approving sale of Israeli spyware firm to US investors

Next Post

Qualcomm scores major legal victory against Arm over chip designs

Next Post
Qualcomm scores major legal victory against Arm over chip designs

Qualcomm scores major legal victory against Arm over chip designs

  • Trending
  • Comments
  • Latest
American creating deepfakes targeting Harris works with Russian intel, documents show

American creating deepfakes targeting Harris works with Russian intel, documents show

October 23, 2024
Cadence raises midpoint of 2024 profit forecast on robust demand from chip designers

Cadence raises midpoint of 2024 profit forecast on robust demand from chip designers

October 28, 2024
Earnings call: Microsoft sees soaring cloud and AI growth in Q1 FY2025

Earnings call: Microsoft sees soaring cloud and AI growth in Q1 FY2025

October 31, 2024
Israel stocks lower at close of trade; TA 35 down 0.23%

Israel stocks lower at close of trade; TA 35 down 0.23%

October 6, 2024
Some Walmart garment orders from Bangladesh on hold due to U.S. tariff threat

Some Walmart garment orders from Bangladesh on hold due to U.S. tariff threat

0
Retailers scramble to move billions in cargo as East Coast dockworkers prepare to strike

Retailers scramble to move billions in cargo as East Coast dockworkers prepare to strike

0
PepsiCo to buy tortilla chip maker Siete Foods for $1.2 billion

PepsiCo to buy tortilla chip maker Siete Foods for $1.2 billion

0
East and Gulf coast ports shut down as thousands of workers go on strike

East and Gulf coast ports shut down as thousands of workers go on strike

0
Some Walmart garment orders from Bangladesh on hold due to U.S. tariff threat

Some Walmart garment orders from Bangladesh on hold due to U.S. tariff threat

July 13, 2025
Trump’s tariffs on Brazil could make your coffee even more expensive

Trump’s tariffs on Brazil could make your coffee even more expensive

July 11, 2025
Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

July 10, 2025
White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

July 10, 2025

Recent News

Some Walmart garment orders from Bangladesh on hold due to U.S. tariff threat

Some Walmart garment orders from Bangladesh on hold due to U.S. tariff threat

July 13, 2025
Trump’s tariffs on Brazil could make your coffee even more expensive

Trump’s tariffs on Brazil could make your coffee even more expensive

July 11, 2025
Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

July 10, 2025
White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

July 10, 2025

Disclaimer: WallStreetJedi.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 wallstreetjedi.com | All Rights Reserved

No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock

Copyright © 2025 wallstreetjedi.com | All Rights Reserved