Travel companies’ shares hit by terror alert
Heightened security following the discovery of a terrorist plot has dramatically hit the shares of airlines and travel companies.
Following the revelations by Scotland Yard, British Airways shares fell 5%, MyTravel was down 5%, Easyjet dropped 2.8% and Ryanair lost 4.7%.
Ferrovial, which purchased UK airports operator BAA in June, saw it shares drop by more than 3%.
Industry analysts said the impact of the disruption will depend on how long planes are delayed and how many are cancelled.
The terrorist alert will have negative effects long term, heightening consumers fear of flying and prompting them to cancel future travel plans.
With airlines already suffering due to high fuel costs and only just recovering from the impact of September 11, analysts believe the impact could be considerable.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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