Shares of Tui AG (LON: TUI) soared 12% today as investors hope that the upcoming easing of travel restrictions will result in high demand for international travel.
As Tui is currently not offering flights from England and Wales, its planes are flying from Scotland to the Canary Islands, which is a very popular holiday destination for the Brits.
As per the current regulation, travellers coming from the Canary Islands are not required to self-isolate upon their return. Tui said it hopes to resume flights to popular travel destinations soon, including Egypt, Greece and Turkey.
“TUI is likely to start flying to these places soon. We’re keeping a close eye on government guidelines and expect to be able to start flying to again soon. Holidays during the Covid-19 pandemic will be slightly different to what you’re used to. But, we’re doing everything we can,” it is said in the statement on the website.
Yesterday, PM Boris Johnson said that lockdowns are due to conditionally end on December 02.
“For the first time since this wretched virus began, we can see a route out of the pandemic,” he said in a speech to Parliament.
Tui share price trades at 530.4p to be over 12% in the green today, with the high representing the highest price the stock printed in over 5 months.
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