UK-based airlines flying as English travel rules set to be overhauled

0
32
imageStock Markets11 hours ago (Sep 16, 2021 13:47)

© Reuters.

By Samuel Indyk

Investing.com – Shares of EasyJet (LON:EZJ), Wizz Air (LON:WIZZ), and British Airways parent IAG (LON:ICAG) were all trading on higher on Thursday after recent reports suggested that the UK’s strict rules for international travel were set to get an overhaul as soon as this week.

The Financial Times reported that vaccinated travellers entering England will be subjected to lighter testing requirements which could also include a revamp of the traffic light system.

Travel overhaul

A government insider told the FT that people who are fully vaccinated will no longer need to take a Covid-19 test before entering the UK.

The news was hinted at by the UK Health Secretary Sajid Javid in the Commons earlier this week when asked whether the more expensive PCR tests for fully vaccinated passengers would be removed for the cheaper lateral flow tests.

“I don’t want to pre-empt the statement by the transport secretary,” Javid said, “but I believe that when he makes the statement, he will be pleased.”

Separately, the traffic light system looks set to go, with the Green and Amber categories set to merge into one group of countries that is safe to travel to. The Red list will remain and will still require arrivals from those countries to quarantine upon entering England.

Ryanair forecast

The sector is also benefitting from positive comments from Ryanair (LON:RYA) who increased their growth forecast for the next five years to 50% from 33% previously. The Irish-based airline now expects to carry over 225 million passengers by March 2026.

Ryanair CEO Michael O’Leary also praised the performance of the new B737 Gamechanger aircraft, of which it is expected to take delivery of 210 over the next five years.

“The performance of the B737 Gamechanger aircraft this summer has exceeded our expectations,” O’Leary said. “Operational reliability, fuel consumption, and lower CO2 emissions have so far exceeded guidelines with very positive passenger and crew feedback to these new, more fuel efficient, quieter aircraft.”

Rolls-Royce

Rolls-Royce (LON:RR) usually benefits from an opening up of travel and easing of restrictions but the aerospace company has got a double-boost today after the UK, US, and Australia announced a new security pact, which will see Australia build nuclear-powered submarines for the first time.

Rolls-Royce was mentioned in the UK’s statement.

“The UK has built and operated world-class nuclear-powered submarines for over 60 years,” the statement read. “We will therefore bring deep expertise and experience to the project through, for example, the work carried out by Rolls Royce near Derby and BAE Systems (LON:BAES) in Barrow.”

UK-based airlines flying as English travel rules set to be overhauled

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

LEAVE A REPLY

Please enter your comment!
Please enter your name here