Shares of Tui AG (LON: TUI) have continued to trade lower on Monday after the UK Government imposed a new set of quarantine measures on travellers, sending all travel and leisure stocks lower.
Brittons scrambled to return from France and avoid quarantine rules after the Government said that all people arriving from France and the Netherlands would have to go into quarantine for 2 weeks.
“The UK needs a more sustainable long-term plan for the resumption of travel than quarantine roulette,” a spokesman of the Heathrow airport said.
“It appears summer 2020 will be something of a write-off, the industry cannot afford for the same to be true in 12 months,” Russ Mould, a director at the investment platform AJ Bell, said.
Last week, Tui posted a record £1.3 billion loss in just three months. The travel giant saw its revenue crash 98% this summer compared to a year ago. Booking went 81% south, forcing the company to slash costs by 30% across the Group.
Tui share price is trading around 5% lower today, dipping below the 300p handle again.