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More than £3bn wiped off travel shares as Austria orders lockdown
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More than £3bn was wiped off the value of UK airlines and travel-related companies on Friday as Austria’s decision to order a national lockdown stoked fears of the introduction of new pandemic restrictions across Europe.
Austria will go into its third national lockdown from Monday, which could last until 12 December, in an attempt to arrest a surge in coronavirus cases and rising deaths.
The potential for restrictive measures to be introduced in other European countries – there is a similar Covid resurgence in Germany – led to a sharp sell of UK-listed companies in the travel sector.
IAG, the owner of British Airways, was down almost 6% on Friday afternoon, wiping more than £400m off the company’s market capitalisation.
IAG, which also owns
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