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Travel

Pound to euro exchange rate: GBP ‘gains ground’ despite the UK coronavirus lockdown

The pound is currently trading at a rate of 1.0940 against the euro, according to Bloomberg. The pound to euro exchange rate suffered a loss this week after Prime Minister Boris Johnson announced that the UK will be put on lockdown to halt the spread of the coronavirus.

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  • Pound to euro exchange rate: GBP at mercy of coronavirus

Mr Johnson told the public in an evening announcement that the nation is currently in the throws of a national emergency.

He urged people stay indoors in order to “save lives”.

Those residing in the UK have been warned that venturing outdoors is strictly prohibited unless it is to buy food, carry out “essential” work or for medical reasons.

One outdoor trip for exercise each day is also permitted.

However, large gatherings of more than two people have been banned unless it is to attend a funeral.

There are currently 423,724 cases of coronavirus worldwide, of which 8,077 are in the UK.

But despite the pound’s recent plummet, there was some positive news this morning as sterling saw a small increase against the euro.

Michael Brown, Currency Expert at Caxton FX spoke exclusively to Express.co.uk.

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He said: “Sterling gained ground against the euro on Tuesday, rallying above the 1.09 handle, as risk appetite improved with traders continuing to digest Monday’s Fed policy package and paying close attention to whether the US Congress would agree on a fiscal stimulus bill.

“Today, this morning’s UK inflation data is set to be ignored, with all eyes remaining on the progress of the coronavirus pandemic and its economic implications.”

The Post Office is currently offering €1.12 per sterling pound.

The pound has seen a welcome boost as global markets have surged higher in the past 24 hours thanks to an increase in positive investor sentiment.

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  • Pound to euro exchange rate: Coronavirus sees GBP plummet

However, the pound has also had its lowest level against the dollar for 35 years due to the ongoing coronavirus pandemic.

The recent drop began when the Bank of England slashed the base interest rate to 0.25 percent this month.

Managing Director of WeSwap, Matt Crate commented on the fall: “There are lots of factors at play at the moment and it is near impossible to predict exactly how COVID-19 and upcoming knock-on events will impact our everyday lives and the pound versus other currencies.

“Many may be looking ahead to summer and winter holidays to see if they can travel and if so, how much it will cost them.

“In light of this uncertainty, it is always best to exchange money as early as possible.

“Using tools such as WeSwap’s Smart Swap is a way to lock in a price and allow your foreign currency to be bought at a better time for the pound.

“It is impossible to tell what will happen over the course of the coming months, but forward planning, taking out the relevant insurance, and preparing for a worst-case scenario is the best course of action given the unique situation we all find ourselves in.”

Currently, the Foreign and Commonwealth Office is advising Britons to avoid “all nonessential travel for the next 30 days.”

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Destinations

Air New Zealand to put economy travellers to sleep ·

Air New Zealand to put economy travellers to sleep

Air New Zealand has unveiled a ground-breaking new lie-flat prototype sleep product for economy class travellers.

The Economy Skynest is the result of three years of Air New Zealand research and development, with the input of more than 200 customers at its Hangar 22 innovation centre in Auckland. The airline has today filed patent and trademark applications for the Economy Skynest which provides six full length lie-flat sleep pods.

Air New Zealand Chief Marketing and Customer Officer Mike Tod says that as the airline operates some of the world’s longest flights, such as the upcoming Auckland-New York service at up to 17 hours 40 minutes one way, it is committed to putting more magic back into flying.

“We have a tremendous amount of development work underway looking at product innovations we can bring across all cabins of the aircraft. A clear pain point for economy travellers on long-haul flights is the inability to stretch out. The development of the Economy Skynest is a direct response to that challenge,” Mr Tod says.

Air New Zealand will make a final decision on whether to operate the Economy Skynest next year after it has assessed the performance of its inaugural year of Auckland-New York operations.

General Manager of Customer Experience Nikki Goodman says customer and cabin crew feedback on the Economy Skynest during its final phase of development has been outstanding, with significant partners also keenly involved.

“We see a future flying experience where an economy-class customer on long-haul flights would be able to book the Economy Skynest in addition to their Economy seat, get some quality rest and arrive at their destination ready to go. This is a game changer on so many levels,” Ms Goodman says.

“We’re so excited to be sharing this product development with our customers. This is one of the highlights of three years’ intensive work centred on customer wellbeing. We’re sure this innovation is going to be a game changer for the industry and bring significant improvements to long-haul flying. We expect other airlines will want to explore licensing the Economy Skynest from us just as they have with the Economy Skycouch™.”

Air New Zealand’s Head of Airline Programmes Kerry Reeves says ‘can do’ is one of the airline’s key values and the Economy Skynest prototype is a tangible example of this.

“At Air New Zealand, we continue to nurture a can-do attitude, we’re not afraid of being bold and trying new things. The question is never ‘can we do this’ but instead ‘is it right to do this for our customers?’ and, if so, ‘how will we do this?’”

“Our ability to take a good idea, to execute and deliver an innovation that works in our environment, our market and for our people and customers gives us an edge.”

Mr Reeves says the scale of the challenge in developing the Economy Skynest and working through its certification with the necessary regulators is immense compared with the development of the Economy Skycouch.

Source: Read Full Article

Categories
Destinations

Air New Zealand to put economy travellers to sleep ·

Air New Zealand to put economy travellers to sleep

Air New Zealand has unveiled a ground-breaking new lie-flat prototype sleep product for economy class travellers.

The Economy Skynest is the result of three years of Air New Zealand research and development, with the input of more than 200 customers at its Hangar 22 innovation centre in Auckland. The airline has today filed patent and trademark applications for the Economy Skynest which provides six full length lie-flat sleep pods.

Air New Zealand Chief Marketing and Customer Officer Mike Tod says that as the airline operates some of the world’s longest flights, such as the upcoming Auckland-New York service at up to 17 hours 40 minutes one way, it is committed to putting more magic back into flying.

“We have a tremendous amount of development work underway looking at product innovations we can bring across all cabins of the aircraft. A clear pain point for economy travellers on long-haul flights is the inability to stretch out. The development of the Economy Skynest is a direct response to that challenge,” Mr Tod says.

Air New Zealand will make a final decision on whether to operate the Economy Skynest next year after it has assessed the performance of its inaugural year of Auckland-New York operations.

General Manager of Customer Experience Nikki Goodman says customer and cabin crew feedback on the Economy Skynest during its final phase of development has been outstanding, with significant partners also keenly involved.

“We see a future flying experience where an economy-class customer on long-haul flights would be able to book the Economy Skynest in addition to their Economy seat, get some quality rest and arrive at their destination ready to go. This is a game changer on so many levels,” Ms Goodman says.

“We’re so excited to be sharing this product development with our customers. This is one of the highlights of three years’ intensive work centred on customer wellbeing. We’re sure this innovation is going to be a game changer for the industry and bring significant improvements to long-haul flying. We expect other airlines will want to explore licensing the Economy Skynest from us just as they have with the Economy Skycouch™.”

Air New Zealand’s Head of Airline Programmes Kerry Reeves says ‘can do’ is one of the airline’s key values and the Economy Skynest prototype is a tangible example of this.

“At Air New Zealand, we continue to nurture a can-do attitude, we’re not afraid of being bold and trying new things. The question is never ‘can we do this’ but instead ‘is it right to do this for our customers?’ and, if so, ‘how will we do this?’”

“Our ability to take a good idea, to execute and deliver an innovation that works in our environment, our market and for our people and customers gives us an edge.”

Mr Reeves says the scale of the challenge in developing the Economy Skynest and working through its certification with the necessary regulators is immense compared with the development of the Economy Skycouch.

Source: Read Full Article