Travel stocks tumble after UK quarantine on Spain; gold hits fresh record – business live

requirement for all travellers arriving in the UK from Spain to self-isolate for two weeks came into effect at midnight on Sunday, only hours after it was announced. “I think it is regrettable, very disappointing,” Neil Sorahan told Reuters in an interview after the release of the Irish airline’s quarterly financial results.

Increase in new Covid-19 cases and rising US-China tensions trigger rush into safe-haven assets such as gold and silver; US dollar slides 9.58am BST Here is our story on Ryanair. My colleague Joanna Partridge writes:Ryanair will not reduce the number of flights to and from Spain, despite the British government’s decision to impose a 14-day quarantine on visitors returning from the country, which the airline’s chief financial officer called “regrettable”. Such unpredictability will make holidaymakers think twice before travelling. Several airlines can survive a number of months due to high cash stocks, but the mass disruption to travel caused by countries experiencing waves at different times will have this sector tied in knots for months.With the UK government placing its own quarantine on Spain over the weekend at short notice the implication is that this could happen to travellers from and to other countries. While these heavy losses are to be expected the real issue is what’s to come. Related: Ryanair will not cut UK-Spain flights despite Covid-19 quarantine 9.22am BST Julie Palmer, partner at business advisory firm Begbies Traynor, says:Quarantines, falling consumer spending and anxieties about being in a confined space with others have all caused the airline sector to take a nose dive.

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