Shares of Tui, IAG, Lufthansa are rising after British Johnson plans to stop locking

The city of Ermoupoli (also called Ermoupoli) is located on the Greek island of Syros.

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LONDON – European travel stocks rose on Tuesday morning as buyers rushed to make new bookings after the UK announced its four-step plan to lift coronavirus restrictions.

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

The sector is hard hit by coronavirus restrictions, and people are advised not to travel abroad and if they have to, they have to fight a strict quarantine policy.

However, on Monday afternoon, the Prime Minister of the United Kingdom Boris Johnson presented his four-step plan to lift all social restrictions by June 21, which led to an increase in the number of new reservations.

EasyJet said on Monday night that it had seen a 337% increase in the number of flight bookings in the UK and a 630% increase in bookings following the government’s announcement. Tui also said overnight bookings jumped 500%.

It’s a huge desire to be out there and watch the world and that stalemate is coming back, it’s just a matter of time.

Keith Barr

CEO of IHG Hotels & Resorts

Greece, Spain, Turkey and Portugal were among the top destinations in the new bookings.

Johan Lundgren, CEO of easyJet, said in a statement: “We have constantly seen that there is a backlog of travel demand and this sharp rise in bookings shows that this signal from the government that it plans to reopen travel is what consumers in the UK were. waiting.”

Andrew Flintham, CEO of TUI UK and Ireland, said in an email that the prime minister’s announcement was “positive and shows that our customers will have the opportunity to travel abroad by working with the tourism industry in a risk-based framework. Summer.”

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

The government also said it was reviewing international leisure restrictions and would announce the changes on April 12th.

“We know there are customers who want to travel, there’s a great desire to be out and see the world and the backlog will come back, it’s just a matter of time,” Keith Barr, CEO of IHG Hotels & Resorts told CNBC’s Squawk on Tuesday. Box Europe.

“Will I do a one-day trip from London to New York for a three-hour meeting? Probably not, so it will have some impact on business travel,” Barr said when asked how the sector is likely to change in the post-Apparent World, but added that will “but the vast majority of estates will overcome this (crisis).”

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