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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Jessica Weisman-Pitts

    Posted on June 21, 2022

    Featured image for article about Top Stories

    LONDON (Reuters) -Britain on Tuesday said it had temporarily relaxed rules around airport slots to allow airlines to devise realistic flight schedules and avoid last minute cancellations in light of staff shortages.

    A spate of flight cancellations has caused widespread disruption for holidaymakers and served as an ominous omen for the summer, with transport minister Grant Shapps telling airlines to stop selling flights they cannot deliver.

    But the industry and politicians have pointed out that the government had demanded that airlines put on full flight schedules, previously saying that airlines had to fly 70% of their flight slots at airports or lose them.

    On Tuesday, the government said it would give an “amnesty” on airport slot rules, and give airlines a short window to hand back take-off and landing slots for the rest of the summer season that they are not confident they will be able to operate.

    “It’s crucial (people) don’t face disappointing last-minute cancellations and chaos at airports when the system can’t deliver. And I will do everything in my power to stop that,” Shapps said.

    “Today’s announcement aims to help airlines provide certainty to passengers and ensure the next few months are as smooth as possible.”

    The change is aimed at letting passengers find alternative routes ahead of time if their flight is unlikely to run, as the government aims to avoid the kind of last-minute cancellations seen over the Easter and half-term school holidays.

    Airlines globally are facing staff-shortages after people left low-paid airport work during the pandemic and airlines struggle to scale up operations following years of restrictions.

    (Reporting by Alistair Smout; editing by William James and Michael Holden)

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