Tourism stocks celebrate de-escalation plans in the UK | Markets

The progress in vaccination campaigns in Europe and, above all, the de-escalation plan announced yesterday by British Prime Minister Boris Johnson, are giving wings to companies in the tourism sector of the Stoxx 600 today on the Stock Exchange. IAG soared 6.8% while the German TUI advanced 6.4% and the German airline Lufthansa rebounded 5.5%.

In the Spanish Stock Market, all the values ​​linked to travel and tourism climb to the top positions. Thus, accompanying IAG are Amadeus, whose titles increased by 6%; Meliá, which recovered 3.4%, and Aena, whose shares also gained 3%.

Easyjet is another of the most bullish. The British airline skyrockets 7% reporting that ticket sales quadrupled in the hours after Johnson’s presentation of the plan. And it is that the British prime minister promised to relax the closure rules in one of the next four months, including the possibility of resuming international travel as soon as May 17.

The market in general and the travel sector in particular have welcomed the announcement of the de-escalation in the UK. One of the strictest confinements in the world, it will start on March 8 gradually with the reopening of schools, in a process that will consist of four phases and that would be completed by June 21.

Johnson announced in the House of Commons his roadmap to reopen society in a “cautious but irreversible” way, which will progress as long as the vaccination campaign continues at its current pace and no new variants appear to alter the plans.

This opens a thread of hope for the sector, one of the most penalized during the pandemic due to confinements and strong restrictions on travel Although experts and the companies in the sector themselves consider that the return to 2019 levels will take some time Arriving, at least until 2023, the summer campaign may be the beginning of the recovery.


READ  Brexit talks - Great Britain threatens the EU with a hard break

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.