Tui, IAG, Lufthansa shares rise after the UK’s Johnson plan to suspend locking

The city of Ermoupolis (also known as Ermoupoli) is located on the Greek island of Syros.

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LONDON – European travel stocks rose sharply on Tuesday morning as buyers rallied to make new places after the UK announced its four-step plan to end coronavirus restrictions.

Shares of Tui, a German travel agency, rose nearly 7% in early European trading hours. International Airlines Group, which owns British Airways and Iberia, also rose more than 6% and shares of German airline Lufthansa jumped more than 4%.

The region has been hit hard by coronavirus restrictions, with people being advised not to travel abroad and adhering to strict quarantine policies if they do.

However, on Monday afternoon, UK Prime Minister Boris Johnson unveiled his four-step plan to lift all social barriers by June 21 and that led to an increase in new tickets.

EasyJet said Monday night it had received a 337% increase in UK airline tickets and a 630% increase in holiday tickets following a government announcement. Tui also said that tickets jumped 500% overnight.

There is a great desire to be out there and see the world and that pent up is going to come back, it is only a matter of time.

What Barr

Head of IHG Hotels & Resorts

Greece, Spain, Turkey and Portugal were among the main destinations in the new places.

Johan Lundgren, CEO of easyJet, said in a statement: “We have consistently seen strong demand for travel and this increase in tickets reflects the Government’s signal that they intend to reopen travel. has been what UK consumers have been waiting for. “

Andrew Flintham, managing director of TUI UK and Ireland, said in an email that the news from the prime minister was “positive and demonstrates that working with the travel industry on a risk-based framework is accessible to our customers. travel abroad this summer. “

The UK is lifting coronavirus restrictions in four stages starting on March 8 with the reopening of schools, but the whole process will depend on how the epidemiological situation changes.

The government also said it is reviewing international recreational travel restrictions and will publish the changes on April 12.

“We know there are customers who want to travel, there is a great desire to be out there and see the world and pent up is going to come back, it’s only a matter of time, “Keith Barr, CEO of IHG Hotels and Resorts told CNBC ‘s Squawk Box Europe on Tuesday.

“Am I going to make the one-day trip from London to New York for a three-hour meeting? Probably not, so there will be some impact on business travel,” Barr said when asked how the division could change in the -Covid world role, but he said that the “but most of the estate is going to make it through this (crisis).”