Travel shares slump amid flu pandemic fears
Monday, 27 Apr, 2009
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Shares in leading travel companies and airlines slumped today over fears of a global fly pandemic.
Stock markets around the world in reacted as airline passengers returning to the UK from Mexico were screened for signs of swine flu which is thought to have been responsible for the deaths of at least 100 people.
Shares in British Airways, Thomas Cook, TUI Travel and Carnival Corporation were among the fallers in London.
BA shares dropped 7.2%, Easyjet fell 5.4% and Carnival 6.4% in early trading this morning.
Thomas Cook shares were down 7.6% and TUI Travel dropped by 4.3% as investors feared the outbreak could lead to restrictions on travel globally.
The FTSE 100 index was down 58.63 points, or 1.4%, at 4,097.36 at 08.15 this morning.
Shares in both Qantas and Cathay Pacific had also fallen.
Outbreaks of the flu have emerged in Mexico, the US and Canada while tests are being carried out on returning travellers to Australia, New Zealand, Spain, Brazil and Israel.
The Health Protection Agency said it was sensible to plan for the possibility of cases being discovered in the UK.
by Phil Davies
Phil Davies
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