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Omicron ushers in holiday hurt as thousands of flights cancelled

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Severe weather in the US west is due to wreak havoc on roadways and other routes after airline staff called in sick after exposure to Covid.

More than 6,000 flights have been cancelled worldwide over the long Christmas weekend and thousands more were delayed, a tracking website reported.

Compounding the travel chaos in the United States, severe weather in the country’s west is due to wreak havoc on roadways and other routes there although it may well bring a white Christmas weekend to northwest cities Seattle and Portland.

According to Flightaware.com, nearly 2,800 flights were scrubbed around the globe on Saturday, including more than 970 originating from or headed to US airports, with over 8,000 delays as of 0130 GMT.

On Friday, there were around 2,400 cancellations and 11,000 delays, while Sunday cancellations have already surpassed 1,100.

Pilots, flight attendants and other employees have been calling in sick or having to quarantine after exposure to Covid, forcing Lufthansa, Delta, United Airlines, JetBlue, Alaska Airlines and many other short-staffed carriers to cancel flights during one of the year’s peak travel periods.

“Help @united flight cancelled again. I want to get home for Christmas,” one exasperated traveler from the US state of Vermont tweeted to the airline early Saturday.

Flightaware data showed United cancelled around 200 flights on Friday and nearly 250 on Saturday – about 10 percent of those that were scheduled.

A scramble to reroute pilots and planes and reassign employees was underway, but Omicron’s surge has upended business.

“The nationwide spike in Omicron cases this week has had a direct impact on our flight crews and the people who run our operation,” United said in a statement Friday.

“As a result, we’ve unfortunately had to cancel some flights and are notifying impacted customers in advance of them coming to the airport,” the airline said.

Similarly, Delta scrapped 310 flights Saturday and was already cancelling several dozen more Sunday, saying it has “exhausted all options and resources – including rerouting and substitutions of aircraft and crews to cover scheduled flying.”

“We apologize to our customers for the delay in their holiday travel plans,” the company said.

The cancellations added to the pandemic frustration for many people eager to reunite with their families over the holidays, after last year’s Christmas was severely curtailed.

Chinese airlines accounted for the highest number of cancellations, with China Eastern scrapping more than 1,000 flights, over 20 percent of its flight plan, on Friday and Saturday and Air China also grounding about 20 percent of its scheduled departures over the period.

READ MORE: In pictures: World celebrates Christmas under pall of pandemic

Treacherous’ snow conditions

According to estimates from the American Automobile Association, more than 109 million Americans were scheduled to travel by plane, train or automobile between December 23 and January 2, a 34 percent increase over last year.

But most of those plans were made before the outbreak of Omicron, which has become the dominant strain in the United States, overwhelming some hospitals and healthcare workers.

The state of New York announced Friday that it recorded 44,431 new daily positive Covid tests, a record, while new cases surged nationwide as well.

On the weather front, while unseasonably warm temperatures were bathing eastern states, the National Weather Service announced winter storm warnings including a deep freeze for significant parts of the west.

“Anomalously cold conditions and a barrage of Pacific moisture results in prolonged periods of mountain snow and coastal/valley rain, some of which may fall heavy at times,” the NWS said in an advisory.

An eye-popping two to four feet (61 to 122 centimeters) of snow was forecast to fall this weekend, with higher accumulation in some spots, in the northern and central Sierra mountains of California and Oregon.

Travel will be “treacherous to at times impossible” from the Sierras to the central Rocky Mountains at the weekend due to whiteout snow conditions, the NWS added.

READ MORE: Christmas weekend sees thousands of flights cancelled globally

Source: TRTWorld and agencies

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BML announce new MVR 1-mil loan facility without collateral

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The Bank of Maldives (BML) on Monday officially announced the launch of two new home loan products; the Home Build Loan and the Home Equity Loan.

The new loan facilities have been introduced to cater to the growing customer needs for home construction and renovation, BML said.

The new Home Build Loan has been designed to allow individuals to borrow up to MVR 1 million without any additional security. The facility provides a repayment period of over 15 years, which is ideal in renovation projects or larger home construction projects across the Maldives.

The bank also, for the first time, has introduced Home Equity Loan for existing Home Loan and Financing customers. This new facility enables these customers to borrow up to the repaid amount, or the usable equity, of the primary loans. The Home Equity Loan is offered for borrowings of more than MVR 50,000 with a repayment period of 20 years.

Moosa Nimal, the Director of Retail and SME Banking said, “These products are designed to make access to finance easier for our customers across the country.”

“The new Home Build Loan does not require any additional security and will allow customers to build or renovate homes at the most competitive market rates. Our Home Equity Loan offers our existing home financing customers to access usable equity available on their property, at a low rate of just 10%.”

The newly introduced loan facilities are available for BML Islamic customers as well.

Source(s): sun.mv

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MIB signs an agreement to expedite business registration process

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Ministry of Economic Development and Trade and the Maldives Islamic Bank (MIB) has entered an agreement, aiming to expedite and streamline the registering services for businesses. The agreement was signed to enhance the quality of services, ensure information security, and facilitate an efficient registration process.

Following the signing of the agreement, Minister of Economic Development and Trade Mohamed Saeed disclosed that customer data can be readily verified with the assistance of the ministry’s Application Programming Interface (API). The minister stated that this would enable businesses to set up bank accounts in a convenient manner. Regarding this, Registrar of Companies Mariyam Waheed underscored the pivotal role API will play in authenticating businesses to customers and expediting in the verification process.

This initiative will significantly benefit individuals accessing online services from the ministry, fostering economic development within the nation. This marks the first agreement of its kind signed by the ministry.

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MTCC reports staggering 82.9% net profit drop

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Maldives Transport and Contracting Company (MTCC) has reported a staggering 82.9% net profit decline for Q1-2024.

According to MTCC, it earned just MVR 5.2 million in net profit for the review quarter, which came down from MVR 30.8 million in the last quarter of 2023.

The company’s revenue for Q1-2024 stood at MVR 664.4 million, which is a 15.8% drop from MVR 789.2 million generated in the Q4-2023.

Moreover, MTCC reported a whopping 94.5% decline in its Gross Profit for the review quarter, registering MVR 2.5 million in Q1-2024 compared to MVR 44.3 million.

The operating profit for the review quarter stood at MVR 41.8 million, which is a 26% drop from MVR 56.5 million in Q3-2023.

The net asset value per share dropped from MVR 227.95 in Q4-2023 to MVR 226.98 to Q1-2024, while earnings per share saw a notable decline from MVR 3.83 in the preceding quarter to just MVR 0.65 in the review quarter.

Source(s): sun.mv

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