The city of Ermoupolis (also called Ermoupoli) is located on the Greek island of Syros.
LONDON – European travel stocks surged early Tuesday as customers scrambled to make new bookings after Britain announced its four-step plan to end coronavirus restrictions.
Shares from Tui, Germany’s travel group, up nearly 7% in early European trading hours. The International Airlines Group, owner of British Airways and Iberia, also jumped more than 6% and shares in the German airline Lufthansa jumped more than 4%.
The sector has been particularly hard hit by coronavirus restrictions, with people advised not to travel abroad and having to deal with strict quarantine policies if they do.
However, on Monday afternoon, British Prime Minister Boris Johnson announced his four-step plan to lift all social restrictions by June 21 and that led to a spike in new bookings.
EasyJet said on Monday evening it experienced a 337% increase in UK flight bookings and a 630% increase in holiday bookings following the government announcement. Tui also said bookings jumped 500% overnight.
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 consistently seen that there is a latent demand for travel and this surge in bookings shows that the signal from the Government that they are planning to reopen travel is what British consumers have been doing. waiting.”
Andrew Flintham, managing director of TUI UK and Ireland, said in an email that the announcement from the prime minister “was positive and suggests that by working with the travel industry on a risk-based framework, our customers will have the opportunity to travel abroad this summer. “
The UK is lifting coronavirus restrictions in four stages starting March 8 with schools reopening, but the entire process will depend on how the epidemiological situation develops.
The government also said it was reviewing restrictions on international recreational travel and would announce changes on April 12.
“We know that there are customers who want to travel, there is a passionate desire to be out there and see the world and pent up it will come back, it’s only a matter of time,” Keith Barr, CEO of IHG Hotels & Resorts told CNBC’s Squawk Box Europe on Tuesday. .
“Am I going to take a one-day trip from London to New York for the three-hour meeting? Probably not, so there will be an impact on business travel,” Barr said when asked how the sector is likely to change in the post. -Covid world, but he added that “but most of the plantations will get through this (crisis).”