U.K. Travel and Leisure Stocks Plunge on Fresh Virus Curbs
- Airlines drop most since March as countries isolate Britain
- Lockdown measures hit leisure, retail as mutant virus spreads
Aircraft operated by British Airways on the runway at London Heathrow Airport Ltd., Dec. 19.
Photographer: Chris Ratcliffe/BloombergU.K. travel and leisure shares tumbled on Monday after several European countries closed their borders with Britain due to the spread of a mutated version of the coronavirus, and the government announced new social restrictions. Stay-at-home stocks, meanwhile, got a boost.
Airlines that were expecting a lift around the festive period were among the worst hit, with British Airways parent International Consolidated Airlines Group S.A. falling 20% and Easyjet Plc 17%, their biggest drops since the pandemic initially roiled markets back in March. Ryanair Holdings Plc, which has already said free flight changes or refunds will be offered to customers where European Union governments have banned travel, slid 7.6%. Domestic rail and bus operators also fell as millions of Britons cancel Christmas travel plans: FirstGroup Plc dropped 9.2% and Go-Ahead Group Plc lost 12%.