Member Article

Hurricane Sandy halts flights and closes stock exchange

Flights to the East coast of America have been grounded as the country prepares to bear the brunt of Hurricane Sandy, which is set to hit to continent this week.

New York Stock Exchange (NYSE) did not open on Monday morning and the city went into shut down as it’s inhabitants prepare for the storm to arrive.

The exchange has warned it may also be closed on Tuesday. British Airways was amongst the airlines that cancelled flights to cities along the East of the U.S, alongside Air France and Virgin Atlantic.

In a statement, NYSE said it would close physical floor trading operations and carry out all transactions through its electronic exchange.

Chief executive, Duncan L. Nieserauer, NYSE Euronext said: “We are open for business and at the same time acting in accordance with actions taken by the city and state of New York.

“We have been in discussions with government officials and regulators, our trading floor community, issuers and other customers.”

He went on to say: “This is an extremely dangerous and unpredictable weather event, and we support the actions taken by city and state officials.

“We will continue to communicate and coordinate activities with regulators and government officials, other market centers, member firms and all of our customers.”

A spokesperson from British Airways said: “Customer safety is our highest priority, and following guidance from the US authorities we have cancelled all flights to and from the East Coast of the USA, including New York, Baltimore, Washington, Boston and Philadelphia as a result of HurricaneSandy.

“We are offering those whose flights have been cancelled the option to rebook or receive a refund.”

This was posted in Bdaily's Members' News section by Miranda Dobson .