The FTSE 350 travel and leisure index, which was tracking its worst year in a decade with a 40% fall, was down 2.3% to its lowest in nearly a month. IAG fell to the bottom of London's bluechip index, while TUI was the worst performer on the mid-caps and On The Beach underperformed the small caps.
Many countries have imposed travel curbs amid the pandemic but Japan's are among the most strict, effectively banning entry of tourists and visa holders coming from 129 countries.
Global airlines appealed for urgent government financial support as US carriers rushed to cut flights to Europe in the wake of new US travel restrictions aimed at combating the coronavirus outbreak,
The ongoing Corona virus crisis hit Saudi Arabia earlier this week with the first case of an infected individual recorded. Saudi authorities were quick to act, quarantining 70 people who were in contact with that individual.
The number of travellers visiting the UAE from Saudi Arabia grew significantly in the fourth quarter of 2019. Dubai’s multi-dimensional market and customised campaigns showcase the city’s ability to remain attractive to the KSA tourists.
Hungary’s Wizz Air warned its industry-leading recovery could stall as COVID-19 warnings and restrictions hamper travel across Europe, but said Britain’s quarantine rules had not led it reconsider long-term expansion plans there.
China’s biggest airline on Saturday reported less severe losses in the second quarter as domestic travel picks up with the coronavirus outbreak brought largely under control.
Waha Capital, a leading investment company in Abu Dhabi, has announced an investment of Dhs184 million ($50 million) in Despegar.com, a leading NYSE-listed company in the online travel sector.
The Turkish Culture and Tourism Ministry launched a two-day program to introduce the country's "safe tourism" concept to ambassadors to Turkey in the Mediterranean province of Antalya during the COVID-19 pandemic.