Fresh travel warning for Britons hits airline stocks

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Britons were warned not to book summer holidays abroad by government ministers as COVID-19 cases in parts of Europe soar, sending travel and airline stocks down by as much as 8% on Monday.

FILE PHOTO: An aircraft takes off at Heathrow Airport amid the spread of the coronavirus disease pandemic in London, Britain, February 4, 2021. REUTERS/Toby Melville

“My advice would be to anybody right now is just to hold off on booking international travel,” social care minister Helen Whately told the BBC on Monday.Europe’s airlines and travel sector are now bracing for a second lost summer, with rebound hopes increasingly challenged by Europe’s slow and chaotic COVID-19 vaccine rollout.

While half of all adults in Britain have received at least one dose of a COVID-19 vaccine, growing infection levels in France, Italy and Germany, fuelled by variants, means the UK may choose to restrict travel beyond the May 17 date. A second summer of restricted travel will place airlines and travel companies under renewed financial strain, after they’ve taken on huge debts to survive the last 12 months of lockdowns and holiday bans.

 

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