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Summary
- UK’s chancellor Rishi Sunak urged the UK government to ease quarantine rules in order to remain competitive with its international counterparts.
- The UK government has a key travel restrictions review meeting on 5 August
- The creation of the amber plus list led to the scrapping of quarantine exemptions for fully vaccinated travellers arriving from countries like France, which are placed in this category.
UK Chancellor Rishi Sunak warned of a need to relook to UK’s existing travel restrictions and has urged the government to ease travel rules due to the severe impact it has had on the travel and hospitality sector and thus remain competitive against its international peers such as the US and EU, according to reports.
Sunak’s comments come ahead of a review meeting on 5 August regarding UK’s travel quarantine rules, which will be in place for the better part of this month. The government recently relaxed some travel rules. Now fully vaccinated travellers from England do not need to self-isolate for 10 days upon the arrival.
However, a newly created amber plus category in the UK traffic light system have led to quarantine exceptions for double jabbed travellers to be scrapped. The amber plus list designation is in response to rising cases of the Beta variant. Thus, travellers from France will now have to home quarantine upon arrival since it is placed in this newly created category.
However, the UK is expected to lift current rules for France and possibly for members in the red list category in the upcoming review meeting. The outcome from the meeting is expected to come into effect from 9 August.
Copyright © 2021 Kalkine Media
Let us take a look at 3 FTSE travel stock and see how they are reacting to the news:
- Wizz Air Holdings Plc (LON: WIZZ)
FTSE 250 index listed Wizz Air is a low-cost airline company. It recently announced its Q1 2022 results, reporting its ticket revenues jumped by 196.8 per cent to EUR 87.2 million, and its Q1 2022 total revenues were up by 119.2 per cent due to signs of recovery in passenger air travel despite channelling travel restrictions.
Wizz’s shares were trading at GBX 5,074.00, up by 2.51 per cent on 2 August at 09:28 HRS GMT+1. Meanwhile, the FTSE 250 index was at 23,285.89, up by 1.47 per cent.
Wizz’s market cap stood at £5,100.54 million, and its one-year return to shareholders was at 57.90 per cent as of 2 August.
Also Read: Lens on Rolls Royce, EasyJet and Wizz Air as UK’s green list for travel expands
- Easyjet Plc (LON: EZJ)
Another FTSE 250 index listed company Easyjet is a UK based low-cost airline. It recently announced its Q3 2021 trading update that its total revenue increased by a whopping 2,866 per cent to £212.9 million from £7.2 million in Q3 2020 due to an increase in capacity.
It expects Q4 2021 capacity to meet up to 60 per cent of its pre-pandemic capacity levels in Q4 2019.
Easyjet’s shares were trading at GBX 859.40, up by 1.56 per cent on 2 August at 09:38 HRS GMT+1. Meanwhile, the travel sector index was at 8,251.55, up by 1.65 per cent.
Easyjet’s market cap stood at £ 3,865.02 million, and its one-year return to shareholders was at 74.45 per cent as of 2 August.
Also Read: IAG shares tumble 8% even as Q2 loss shrinks
- International Consolidated Airlines Group S.A. (LON: IAG)
British Airline owner, International Consolidated Airlines Group is a constituent of the FTSE 100 index. The multi airline group announced its H1 2021 results, reporting its passenger revenues were lower by 72.3 per cent EUR 1,141 million, from EUR 4,113 million in H1 2020.
IAG’s shares were trading at GBX 175.00, up by 4.11 per cent on 2 August at 09:41 HRS GMT+1. Meanwhile, the FTSE 100 index was at 7,103.48, up by 1.0 per cent.
IAG’s market cap stood at £ 8,339.06 million, and its one-year return to shareholders was at 55.42 per cent as of 2 August.
