Green List Announcement Causes Turbulence In easyJet, Tui, Wizzair And Ryanair Shares

Green List Announcement Causes Turbulence In easyJet, Tui, Wizzair And Ryanair Shares. image: Wikipedia

Green List Announcement Causes Turbulence In easyJet, Tui, Wizzair And Ryanair Shares.

Thousands of British holidaymakers flocked to firms and airlines in a bid to get holidays booked to the 16 new destinations added to the Government’s green list on Friday, June 25.

However, the same could not be said for investors, who gave the announcement a negative response with shares in those companies failing to ‘take off’ in a vote of no-confidence that broadly matches the response from the companies themselves, who were highly critical of the government’s cautious travel approach.

Shares fall

Shares in British Airways owner IAG closed down 4.7p, or 2.45%, at 187.48p; EasyJet down 14.4p at 955p, Ryanair down 0.22 cents at 16.4 euros, TUI down 4.6p at 405.6p, and Wizz Air down 60p at 5,018p.

Michael Hewson, the chief markets analyst at CMC Markets UK, said: “The addition of Malta, Madeira and the Balearics to the green list, as well as an indication that the Government would look at dropping quarantine rules for fully vaccinated UK residents returning home from amber list countries later in the summer, hasn’t had a positive impact on the travel sector today.

“The Government has once again been criticised for its cautious approach to the easing of restrictions as far as overseas travel is concerned, particularly in comparison to the EU, which is opening up faster, as concerns rise that the sands of time appear to be running out on the 2021 holiday season.”

Airlines in the UK reacted to the latest green list issued by the government with little optimism, insisting that it is ‘simply not enough’. Airlines such as Ryanair, Tui, Jet2 and easyJet expected more countries to be added to the green list and said that the current limited reopening is not justified by the current data.

 


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Ron Howells

Ron actually started his working career as an Ophthalmic Technician- things changed when, during a band rehearsal, his amplifier blew up and he couldn’t get it fixed so he took a course at Birmingham University and ended up doing a degree course. He built up a chain of electronics stores and sold them as a franchise over 35 years ago. After five years touring the world Ron decided to move to Spain with his wife and son, a place they had visited over the years, and only bought the villa they live in because it has a guitar-shaped swimming pool!. Playing the guitar since the age of 7, he can often be seen, (and heard!) at beach bars and clubs along the length of the coast. He has always been interested in the news and constantly thrives to present his articles in an interesting and engaging way.

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