Hurricane to disrupt East Coast flights and stock trading
Planning on doing any business on the East Coast in the next few days? You might have to put those plans on hold as Hurricane Sandy prepares to make landfall.
Thousands of flights have already been canceled, and it will not be business as usual on Wall Street as the New York Stock Exchange, Nasdaq Stock Market and the Direct Edge exchange will close Monday.
The situation is fluid, depending on just how hard and where the storm hits. But here’s a look at the latest:
Will I be able to fly into New York on Monday or Tuesday?
The odds aren’t in your favor. Nearly 6,000 flights Monday have been canceled and about 700 flights have been dropped for Tuesday, according to FlightAware, an airline information service. Among the hardest-hit airports are Newark Liberty International, LaGuardia and John F. Kennedy International in the New York area, and more cancellations are expected for Tuesday, depending on the storm’s track.
Travelers should check their airlines’ websites frequently, particularly before heading to airports. You could also try Twitter messages — you can get their handles from most airlines’ websites. Airlines have started to monitor these feeds for customer-service queries, but they may not be able to keep pace with storm-related questions.
Will I be able to make a stock trade during the storm and its aftermath?
The NYSE, Nasdaq and Direct Edge will be closed. Initially, the NYSE had planned to shift all NYSE-listed securities to an electronic exchange Monday. However, late Sunday it decided to close Monday and possibly Tuesday.
“We support the consensus of the markets and the regulatory community that the dangerous conditions developing as a result of Hurricane Sandy will make it extremely difficult to ensure the safety of our people and communities, and safety must be our first priority,” the market’s owner, NYSE Euronext, said in a statement. “We will work with the industry to determine the next steps in restoring trading as soon as the situation permits.”
This will be the first time the markets have closed on a regular trading day since the 9/11 terrorist attacks.
If an airline cancels my flight, do they owe me a free rebooking?
Yes, airlines will typically offer a voucher for a future trip, usually within a year. You can also ask for a cash refund.
What if I change flights on my own — will there be a fee?
Airlines have waived their normal fees, typically up to $150, to switch flights. Most airlines have lifted these restrictions for travel booked through Wednesday. But travelers should consider their options closely before rescheduling because these fees are waived only once.
When will flights resume?
There’s hope that this storm will have moved through by Wednesday and normal flight operations can resume shortly thereafter. But those plans, of course, depend on the extent of storm damage and how many stranded passengers need to be rerouted.
Times staff writer Andrew Tangel contributed to this report.
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