Europe travel industry scrambles as stocks tumble


There was news this week that with the Austrian government putting its population under lockdown again (as of Monday, November 22), airlines and travel agencies have lost $ 2.2 billion on their shares, as reported The Guardian. IAG (owner of British Airways), for example, saw its shares fall 3.8%, losing £ 300million ($ 400million) on the company’s market cap.

While the WHO has announced that the EU area could expect the 2.2 million deaths to exceed 2.2 million by the spring (an increase of 700 million from the current figure ), investors fear that Germany will do the same and place its population in lockdown. Angela Merkel said the latest Covid-19 peak was the most dangerous yet and called for stricter measures, as reported Bloomberg. German Health Minister Jens Spahn told a press conference that the reality is that “by the end of winter, more or less everyone in Germany will be vaccinated, cured or dead” .

As rising Covid-19 infection rates threaten to reverse many decisions countries have made to open borders and reduce travel bans and travel restrictions, the European Travel Commission (ETC) and the World Travel & Tourism Council (WTTC) issued a joint statement urging the EU countries to adopt unified and consistent travel restrictions so as not to undermine the newfound confidence in travel across the region.

This seemed to be understood on Thursday, as the EU unveiled plans requiring mandatory booster injections 9 months after initial vaccinations in order to travel freely in the region and avoid EU travel restrictions.

There has been unrest in many EU countries over the new round of Covid-19 restrictions that have been instigated by governments: Police opened fire on protesters last weekend in the Netherlands and thousands of people marched in Austria, Switzerland and Italy, among others.

WHO is now openly suggesting that an important step to stem the pandemic in Europe would be compulsory vaccination across the EU.



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