Singapore’s air travel is rebounding despite China’s border restrictions, transport minister says

Singapore’s air travel is rebounding despite China’s border restrictions, transport minister says


Air travel in Singapore is recovering and has reached around 40% of pre-Covid levels despite China’s border restrictions, Transport Minister S. Iswaran said.

China’s passenger traffic is significant for Singapore, he said. Some 3.6 million Chinese residents traveled to Singapore in 2019, accounting for 13% of total visitors, according to data from the local tourism board.

China remained among the top sources of visitors to Singapore during the pandemic, but that may be changing as other countries relax border measures. In April, Singapore received just 5,000 visitors from China, less than 2% of total arrivals, data showed.

Travelers to China still need to take multiple Covid tests and quarantine upon arrival in the country.

Still, there are opportunities for growth in travel, Iswaran told CNBC’s Steve Sedgwick and Geoff Cutmore on Wednesday at the World Economic Forum.

“We’ve seen a significant rebound in air travel coming through Singapore, in the space of less than two months from mid March to mid May,” said Iswaran.

“Our volumes have more than doubled to around 40 odd percent of pre-Covid, and we expect that momentum to continue,” he added.

CNBC Health & Science

Read CNBC’s latest global coverage of the Covid pandemic:



Source

Fannie Mae accepts first crypto-backed mortgage product
Business

Fannie Mae accepts first crypto-backed mortgage product

Fannie Mae will now accept crypto-backed mortgages via a new product by mortgage company Better Home and Finance and Coinbase. It’s not the first crypto backed mortgage, but it is the first accepted by Fannie Mae, which is under government conservatorship. The offering allows homebuyers to use their crypto assets as collateral. Fannie Mae will […]

Read More
United Airlines, flight attendants reach labor deal for first raises since pandemic
Business

United Airlines, flight attendants reach labor deal for first raises since pandemic

United Airline flight attendants picketed outside Terminal B at Logan Airport, seeking a new contract. John Tlumacki | Boston Globe | Getty Images United Airlines and its flight attendant union have reached a tentative labor deal that will include their first raises in roughly six years. If ratified by flight attendants, it would make United […]

Read More
MLB faces a historic shift as potential lockout, media rights and other league changes loom
Business

MLB faces a historic shift as potential lockout, media rights and other league changes loom

Thursday’s Opening Day may be the calm before the storm for Major League Baseball. The league’s collective bargaining agreement with its players expires at the end of this season. Owners, with the commissioner’s backing, are almost sure to push for a salary cap (which would likely come with a salary floor to get players to […]

Read More