How Hard Will the European Flight Ban Hit the Airline Industry?

In a word, very. Layoffs seem likely, and bailouts could be down the line.

Among the many surprises to come out of Wednesday night’s national televised address by President Donald Trump, the biggest was easily a travel ban slapped on most of Europe. Starting Friday at midnight, the government will suspend flights to and from the continent for 30 days. The ban affects the so-called Schengen Area—26 EU states that require no passport control for residents moving among them—which includes France, Italy, Spain and Germany. (For now, it omits the U.K.)