It's shaping up to be a bad week to be holding travel stocks following weekend revelations of towns in Italy being put into quarantine lock-down.
Shares in easyJet PLC (LON:EZJ) and Ryanair Holdings plc (LON:RYA) were down 9.5% and 8.5% respectively; Wizz Air Holdings PLC (LON:WIZZ) was off 5.7%; British Airways owner International Consolidated Airlines Group (LON:IAG) tumbled 7.0%; Jet2 owner Dart Group PLC (LON:DTG) fell 5.0% while package tour operator TUI AG (LON:TUI) slumped 8.9%.
#coronavirus : death toll now 4 in Italy, the third in Lombardy as several communities remain in lockdown.— JosephineMcKenna (@JosephineMcK) February 24, 2020
Despite protesting that it doesn’t currently expect the coronavirus outbreak to have a significant impact on 2020 trading, the shares slipped 6.8% to 5,250p.
Direct and indirect supply from China varies from business to business in the group, the company revealed, adding that only one subsidiary has significant supply chain exposure to the People's Republic.