- Holidaymakers are once again facing travel chaos after their holidays were disrupted due to flight cancellations, queues, and delays at airports.
- The pressure on travel hubs will continue in the coming days due to the four-day weekend for Queen Elizabeth’s platinum jubilee.
Holidaymakers are once again facing travel chaos after their holiday plans were disrupted due to flight cancellations, queues, and delays at airports. Travellers are eager to head off for a half-term break during the four-day weekend for Queen Elizabeth’s platinum jubilee this week. Therefore, the pressure on the travel hubs is expected to increase in the coming days.
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Passengers at airports faced a harrowing time as they had to wait at the check-ins and security points amid staff shortages and other issues. Owing to this, many passengers missed their flights.
Due to operational and supply chain issues, travel company Tui said it has cancelled a few flights between Friday and Sunday at Bristol, Gatwick, Manchester, and Birmingham airports. Before that, low-cost airline group EasyJet cancelled over 200 flights that were scheduled from 28 May to 6 June from Gatwick airport.
Let us look at 3 FTSE-listed stocks that are affected by flight cancellations, queues, and delays.
- TUI AG (LON: TUI)
TUI AG is an FTSE 250-listed leisure, travel, and tourism company with a market cap of £3,354.40 million as of 30 May 2022. The company has reported a 527.9% increase in revenue in H1 2021 to €4,497.6 million, from 716.3 million in H1 2021. Its EBITDA stood at €-188.4 million, from €-831.5 million in H1 2021.
The travel company’s share was trading at GBX 197.35, up by 5.03%, around 11:30 AM (GMT+1) and its shares return over the last one year has depreciated by 48.71% on 30 May 2022. The company apologised after cancelling multiple fights due to a boost in consumer demand and operational and supply chain issues.
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- EasyJet Plc (LON: EZJ)
EasyJet Plc is an FTSE 250-listed low-cost airline group with a market cap of £4,032.61 million as of 30 May 2022. The company’s shares were trading up by 1.43% to GBX 541.20, up by 1.73%, around 11:30 AM (GMT+1) and its shares return over the last one year has depreciated by 46.47% on 30 May 2022.
The airline group has reported a loss before tax of £557 million in H1 2022, from a £645 million loss in H1 2021. Its total revenue increased by 524% to £1,498 million, from £240 million in H1 2021, driven by an increase in capacity flown and ancillary products continuing to deliver incremental revenue.
International Consolidated Airlines S.A. (LON: IAG)
International Consolidated Airlines is an FTSE 100-listed company that holds interests in the airline and ancillary operations. Its market cap stands at £6,476.75 million as of 30 May 2022 and it operates through various segments including British Airways, Aer Lingus, Iberia Vueling, and other companies.
The company’s shares were trading at GBX 135.66, up by 3.97%, around 11:30 AM (GMT+1) and its shares return over the last one year has depreciated by 33.53% on 30 May 2022. The airline group reported total revenue of €3,435 million in Q1 2022, up from €968 million in Q1 2021. Its loss after tax stood at €787 million, from €1,074 million in Q1 2021.
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