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1. Analysts Say Bad Weather Only Part of Southwest's Problems
As Southwest Airlines continues to lead in U.S. flight cancellations, analysts say the carrier's problems are not just due to severe weather, NPR reports.
Other factors include staff shortages caused by the COVID-19 pandemic, employees sick with influenza and respiratory syncyitcal virus, as well as an outdated computer system that's responsible for crew scheduling, the news outlet reports.
"It's not only their customer-facing systems, it's their crew scheduling and so on," Helane Becker, an aviation analyst with Cowen, told the news outlet. "Southwest has always been a laggard when it comes to technology."
Bob Jordan, CEO of Southwest, said in a video message to the public Tuesday, "Clearly we need to double down on our already existing plans to upgrade systems for these extreme circumstances so that we never again face what's happening right now," Reuters reports.
2. Hong Kong Further Reduces COVID-19 Restrictions
Beginning Thursday, Hong Kong will drop nearly all COVID-19 measures, including a mandatory PCR test for inbound travelers, the vaccine pass scheme and quarantine requirements, the South China Morning Post reports.
One measure that will stay in place, however, is the mask mandate, Chief Executive of Hong Kong John Lee Ka-chiu said on Wednesday at a press conference. Travelers arriving in Hong Kong will need to show a negative result from a PCR test within 48 hours of arrival or from a rapid antigen test 24 hours before.
Hong Kong health secretary Lo Chung-mau, who also attended the press conference, said "the Hong Kong SAR government will keep relaxing pandemic restrictions but will not give up its anti-epidemic work."
3. Hotel Room Rates Soar for COP27
Sharm El-Sheikh, Egypt, the host market of the annual United Nations Climate Change Conference, COP27, achieved elevated hotel average daily room rates from Nov. 6 to 18 but lower occupancy compared to the same dates in 2019, reports Hotel News Now's Terence Baker.
"In terms of hotel rates, Sharm El-Sheikh's hotel average daily rate increased 1,127% in local Egyptian pounds on Nov. 7 in comparison to the pre-pandemic year. Even indexed in U.S. dollars, ADR for that date increased by 732%," Baker reports.
4. Influx of Russian Tourists to Thailand
Arrivals of tourists from Russia to Thailand have grown at a quicker pace monthly than from any other country, Reuters reports, citing official data.
"Russia was Thailand's seventh-largest tourism market in 2019, before the pandemic, at 1.48 million visitors, but on a monthly basis in November, it was third behind Malaysia and India, with 108,985 arrivals, up from 44,314 in October and 15,900 in September," the news outlet reports.
Bhummikitti Ruktaengam, Phuket's Tourist Association advisory chairman, told the news outlet, "We're seeing Russian families renting homes and extending their stays from 16 days to a few months."
5. Rising Interest Rates Linked to Baby Boomer Absence in Workforce
Baby Boomers leaving the workforce is contributing to a labor shortage, which policymakers fear is contributing to rising wages and inflation. The New York Times reports this could cause the Federal Reserve to raise rates even more, putting the economy at risk of a recession.
"With pay climbing so swiftly, Fed officials worry that they will struggle to bring inflation fully under control. Wages were not a major initial driver of inflation but could keep it high: Businesses facing heftier labor bills may try to pass those costs along to their customers in the form of higher prices," the newspaper reports.