Tax cutting bonanza and Japan to lift travel restrictions

Elsewhere, Japan is to finally lift its restrictions on international tourists next month after more than two years of effectively closed borders.

Meanwhile, Boeing is paying a US $200 million penalty for misleading investors over the deadly crashes of two of its 737 Max aircraft, while UK rail travellers are facing three days of strike action in early October.

Here are the headlines that the travel industry woke up to on Friday (23 September).

Tax cut bonanza in bid to stop economic rot

New chancellor Kwasi Kwarteng is set to announce a range of tax cuts in a mini budget on Friday (23 September), as the Bank of England said it believed that the country had already gone into recession. The bank raised interest rates by 0.5 points to 2.25% on Thursday (22 September) - their highest level for 14 years. (The Times)

Japan to lift restrictions on foreign tourists

Japan will reopen its doors to vaccinated foreign tourists after more than two years of closed borders due to Covid. From 11 October, tourists will be able to visit the country without a visa and will no longer need to go through a travel agency. Japan’s cap on daily arrivals will also be lifted. (BBC News)

Boeing to pay $200m penalty for misleading investors over 737 Max

Aircraft manufacturer Boeing has agreed to pay a penalty of $200 million to settle charges of misleading investors about two deadly crashes of the company’s 737 Max aircraft in 2018 and 2019, which killed a total of 346 people. Former Boeing chief executive Dennis Muilenburg will also pay a penalty of $1 million. (Financial Times)

Rail passengers face three strikes in a week

The UK’s rail network will come to a standstill in early October with unions set to hold three days of strikes in just one week. The RMT and Aslef unions are in separate disputes with Network Rail and train operating companies over pay and jobs. (The Telegraph)

Climate activists ‘hijack’ posters to shame aviation

Environmental activists have “reworked” more than 500 billboard adverts across the UK and Europe to display messages blaming the aviation industry for fuelling the climate crisis and global warming. Adverts in London, Bristol, Manchester, Sheffield and Brighton have been painted over with anti-flying messages. (The Guardian)

Airline ticket prices soar as Russians flee country to escape conscription

Flight prices in Russia have soared to more than $5,000 as citizens try to escape the country and avoid being drafted into the army to fight in the war in Ukraine. Russian president Vladimir Putin announced a major mobilisation of new troops earlier this week. (Sky News)