UK airline stocks cushioned by hopes for big June travel restart

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British airline stocks lost ground after the government set out a limited reopening of travel, but losses were cushioned by hopes that a bigger take-off would be on the cards for June.

British Airways-owner IAG, easyJet, Jet2 and TUI were all down between 2-3% as they traded for the first time since Britain said on Friday that travel could restart but only to a handful of places, including Portugal, Israel and Iceland.

The top four destinations for British travellers – Spain, France, Italy and the United States – were left off the country’s travel “green list”, but confidence in the industry is growing that by June those countries will make it.

“We expect the number of countries on the green list to grow next month to include many of our popular summer destinations,” easyJet Chief Executive Johan Lundgren said in a statement.

Britain has said it will review every three weeks the green list – places for which quarantine on return is not required – giving two more chances for Britain’s main summer holiday destinations to make it before peak season starts in July.

via Reuters

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