Lens on Rolls Royce, EasyJet and Wizz Air as UK’s green list for travel expands

Summary

  • Malta, Madeira, Barbados, and Spain's Balearic Islands now added to the green list for travel.
  • Those coming from any of the 16 places named in the list to the UK from 30 June 04:00 onwards will not have to follow quarantine rules.
  • The government was planning to discontinue the quarantine norms later in summer for fully vaccinated people.

Malta, Madeira, Barbados, and Spain's Balearic Islands have been added to UK’s green list for travel, giving British holidaymakers and the aviation sector a much-needed boost, UK’s transport secretary Grant Shapps said.

Those coming from any of the 16 places named in the list to the UK 30 June 04:00 onwards will not have to follow quarantine rules, Shapps said.  He also said that the government was planning to discontinue the quarantine norms later in summer for fully vaccinated people returning from amber list countries.

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A part of the Caribbean, which includes Antigua and Barbados, have also been made a part of the green list taking 27 destinations in total. Though the travel industry has welcomed the announcement, it urged the government to add more to the green list.

Places that are now also a part of the green list includes Bermuda, Anguilla and Montserrat, British Indian Ocean Territory, Cayman Islands, British Antarctic Territory, Pitcairn, British Virgin Islands, and Turks and Caicos Islands.

Destinations added to the red list include Tunisia, Uganda, Eritrea, Haiti, Mongolia, and the Dominican Republic.

From 30 June, holiday goers returning from the updated green list destinations would have to take a PCR test on arrival but would not need to quarantine. Fully vaccinated travellers returning from amber list countries too would eventually not require quarantining but only a PCR test.

Here are some aviation stocks and how they reacted to the news:

Wizz Air Holdings (LON: WIZZ)

The shares of the low-cost airline company were trading down 0.71 per cent at GBX 5,042 on 25 June at 11:59 GMT+1 with a market capitalisation of £5,231.70 million.

It posted a loss of €576 million for the year ended 31 March against €281.1 million a year ago. Passengers carried dropped 74.6 per cent to 10.2 million compared to 40 million a year ago.

EasyJet Plc (LON: EZJ)

The shares of the company were down 0.52 per cent and were trading at GBX 964.40 on 25 June at 11:59 GMT+1 with a market capitalisation of £4,427.73 million.

Total revenue for the first half of 2021 of the company fell 89.9 per cent to £240 million from £2,382 million a year ago. Loss before tax increased 82.7 per cent to £645 million from £353 million.

Rolls Royce (LON: RR.)

The biggest manufacturer of jet engines shares was trading 0.67 per cent down at GBX 107.06 on 25 June at 12:05 GMT+1 with a market capitalisation of £9,018.60 million.

The company announced plans to decarbonise the engines manufactured by it. Rolls Royce plans to power all its engines on renewables replacing fossil fuel powered engines in use currently. Rolls Royce has set its target for 2050. It announced that it would be manufacturing jet engines by 2030 that would be powered by sustainable aviation fuel.

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