The city of Ermoupolis (also called Ermoupoli) is located on the Greek island of Syros.
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LONDON – European travel shares soared Tuesday morning as customers rushed to make new bookings after the UK announced its four-step plan to end coronavirus restrictions.
Shares of Tui, the German travel group, were up nearly 7% in early European trading hours. International Airlines Group, the owner of British Airways and Iberia, also rose more than 6% and the shares of the German airline Lufthansa were up more than 4%.
The industry has been badly affected by the limitations of the coronavirus, which discourages people from traveling abroad and faces strict quarantine policies when they do.
On Monday afternoon, however, British Prime Minister Boris Johnson unveiled his four-step plan to lift all social restrictions by June 21, triggering a wave of new bookings.
EasyJet said Monday evening it experienced a 337% increase in flight bookings in the UK and a 630% increase in holiday bookings following the government announcement. Tui also said bookings at night are up 500%.
There’s a tremendous desire to be out there and see the world and that pent-up will come back, it’s just a matter of time.
Keith Barr
CEO of IHG Hotels & Resorts
Greece, Spain, Turkey and Portugal were among the top destinations in the new bookings.
Johan Lundgren, easyJet CEO, said in a statement, “We have consistently seen pent-up demand for travel and this increase in bookings shows that this signal from the government that it intends to reopen travel is what British consumers have been waiting for. “
Andrew Flintham, general manager of TUI UK and Ireland, said in an email that the Prime Minister’s announcement was “positive and shows that by working with the travel industry on a risk-based framework, our customers will have the opportunity to to travel abroad this summer. “
The UK is lifting the restrictions of the coronavirus in four phases, starting March 8 with the reopening of schools, but the whole process will depend on how the epidemiological situation evolves.
The government also said it is reviewing international restrictions on vacation travel and will announce the changes on April 12.
“We know there are customers who want to travel, there is a tremendous desire to be out there and see the world and that pent-up will come back, it’s only a matter of time,” said Keith Barr, CEO of IHG. Hotels & Resorts told CNBC’s Squawk Box Europe Tuesday.
“Am I going to take the one-day trip from London to New York for a three-hour meeting? Probably not, so there will be some impact on business travel,” Barr said when asked how the industry is likely to change in the post. -Covid world, but added that “only the vast majority of the estate will save this (crisis).”