Aviation Stocks Fall After UK Govt Releases ‘Green List’ For Future Travel

Summary

  • The UK government has put only 12 nations on the new travel list, which includes Australia and Portugal. While it has left out countries like Spain and Italy.
  • The green list mentions the countries from where Britons can fly back home and skip the quarantine process on their arrival.
  • After the announcement,

The UK government’s latest green list of countries for travelling abroad starting from 17 May has disappointed major aviation stocks. The stocks on average fell over 2 per cent in early trading hours at the London Stock Exchange on Monday, 10 May. The UK government has put only 12 nations such as Australia, Israel, New Zealand, Portugal and Singapore among others, on the green list as of now. Popular holiday destinations like France, Italy and Spain are not on the list., which are now part of the ‘amber list’.

The green list mentions the countries from where Britons can fly back home and skip the quarantine process on their arrival. While travel to and from other popular international destinations is allowed from 17 May, travellers will need to self-quarantine for 10 days as they land in Britain.

 

Also Read: Lens On 4 Aviation Stocks as EU Might Open Leisure Travel to Vaccinated US Travellers

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The 3 lists

UK flyers travelling to the countries on the green list need to be tested pre-departure as well on their return. However, they do not need to quarantine when they arrive. The 12 countries on the green list include: Australia, Brunei, Faroe Islands, Falkland Islands, Gibraltar, Iceland, Israel, New Zealand, Portugal, Singapore, St. Helena, Tristan de Cunha, Ascension Island, and South Georgia and the South Sandwich Islands.

Apart from the green list, the government categorised nations in two other groups: the amber and the red lists.

The red list needs the most-strict travel restrictions, with Turkey being the most notable nation added to it. 

Also Read: Brexit impact on British airlines: Are more job losses on cards?

Airline stocks

The shares of major European airline firms tanked on Monday morning as popular travel destinations for the UK flyers did not make it to the green list. With restrictions on returning passengers from these nations, travel to these destinations is expected to be impacted till things return to normal.

The share price of EasyJet (LON: EZJ) fell by 2.74 per cent to touch GBX 1065.50 points at 11.14 AM today.

The Ryanair stock (LON: RYA) plummeted 0.66 per cent from its previous close to reach EUR 17.39 at 11.17 AM at the LSE.

The shares of International Consolidated Airlines Group S.A. (LON: IAG) dropped 1.50 per cent at 11.18 AM today to a price of GBX 210.00.

The share price value of Wizz Air Holdings Plc (LON: WIZZ) hovered at GBX 4858.00, lower by 3.57 per cent at 11.22 AM today from its previous day’s closing price.


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