The FTSE 100 saw airline stocks decline today in the wake of Britain’s move to reimpose a travel quarantine on Spain.
Airlines have strongly criticized the government’s decision, which forces travellers to the UK from Spain to self-isolate for two weeks.
“Losses across European and US airlines highlight the growing fear that many airlines will only survive through massive share dilution,” Joshua Mahony, a senior market analyst at spreadbetter IG, said.
The government scrapped a travel corridor between the UK and Spain over the weekend, after the country reported 900 new Covid-19 cases for two days running last week despite Spain insisting it is a safe tourist destination even when facing a sharp rise in coronavirus infections since it started easing lockdown.
British Airways parent IAG, easyJet and Wizz Air were all trading lower, along with travel company TUI