Shares of Tui AG (LON: TUI) have plunged 14% on Monday after the UK decided to introduce a quarantine rule for all non-essential travel to Spain
A major tour operator was then forced to cancel Sunday’s (July 26) flights to Spain and all holidays to mainland Spain until August 09.
“Tui UK have taken the decision to cancel all holidays to mainland Spain up to and including Sunday 9 August 2020,” the company said in a statement.
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“We know how much our customers look forward to their holiday abroad and some will be able to accommodate the new quarantine restrictions. Therefore all those that wish to travel to the Balearic Islands and Canary Islands will be able to travel as planned from Monday 27 July.”
Media outlets are also reporting that the government may extend its quarantine rule to Germany and France.
Tui share price hit 287.9p today, which is the lowest it traded since May. This area hosts support, which if broken will open the door for a move to 220p.
