Shares of International Consolidated Airlines Group (LON: IAG) fell more than 12% on Monday to trade below 100p for the first time since 2012.
The UK stock market opened the week lower as investors fear that the country is heading towards a second national lockdown. As a result, the risk-deteriorating situation is hurting travel and leisure stocks as they are likely to suffer the most.
Data from yesterday showed that a number of daily infections rose to a four-month high of 4,422 as hospitals prepare for another wave.
“I don't want to go into a second national lockdown at all. That's the last thing anybody wants. I don't want to go into bigger lockdown measures at all. We want to keep schools open,” the PM Boris Johnson said.
Last week, IAG share price crashed 30% on reports that the company is forced to launch a heavily discounted rights issue to raise €2.74 billion to improve its liquidity.
IAG share price trades at 97.50 at the moment, or 11.8% in the red.
PEOPLE WHO READ THIS ALSO VIEWED: