Portugal travel corridor boosts airlines
Thanks as usual to Jaime for a link to one of the Mail’s websites last weekend, reporting that the UK’s announcement of a travel corridor with Portugal helped boost airline stocks.
thisismoney.co.uk reported last Friday that “airline stocks took off yesterday after Portugal was added to the UK’s list of safe holiday destinations. Travellers returning from the country will no longer have to go into quarantine from (last) Saturday, prompting a huge surge in bookings”.
The website notes that Portugal is a firm favourite of sun-seekers, with some 1.8m Britons visiting per year.
The easing of restrictions offered welcome relief to embattled airlines, which have seen passenger numbers hammered by global travel restrictions.
On Friday easyJet was up 3.5% to 573.8p, while rival budget carrier Ryanair rose 2.9% to €11.45. Tui also rose 4.8% to 308.2p, Wizz Air by 1,5%, to 3614p and British Airways owner IAG by 1.4% to 193.2p. Dart Group, the owner of Jet2, rose 2.2 % to 676.5p.
Jet2 boss Steve Heapy said: ‘We welcome this change in government advice which means that customers can once again look forward to enjoying their well deserved holidays in the stunning Algarve region’.
Updates to the COVID-19 statistics are being added to Saturday’s post for the time being