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Coronavirus: Airlines under pressure despite UK considering quarantine cut for business travellers

The aim is to allow City dealmakers, hedge fund managers and company executives to make plans for Brexit

International Consolidated Airlines Group - Coronavirus: Airlines under pressure despite UK considering quarantine cut for business travellers

Airline stocks remained under pressure on Monday afternoon despite the UK is considering a quarantine cut for business travellers ahead of Brexit.

British Johnson has ordered to draft rules to allow City dealmakers, hedge fund managers and company executives to go back and forth as necessary as part of plans to “promote global Britain”, The Sunday Times reported.

READ: TUI, easyJet, Jet2 rejoice after UK drops quarantine for Canary Islands, Mykonos

These new measures, cutting down solation to a maximum of 10 days with seven preferred, would be implemented within to weeks.

Westminster was told that people struggle with compliance since the two-week period is felt as too long to be at home.

“If you get a much higher proportion of people self-isolating for seven days, that would provide an overall benefit compared with a much smaller number of people doing it for 14 days,” the paper was told by a government source.

“If people aren’t going to self-isolate at all then the benefits of cutting it to seven days could be significant.”

The UK government appointed a taskforce to review the current quarantine system earlier this month and revive international travel, including a testing system.

Last week, Heathrow Airport launched an £80 optional rapid COVID-19 test for passengers flying to Hong Kong and Italy to help travellers going to countries that require negative results on arrival.

Similarly, Downing Street is considering to cut the quarantine period for people who have been in contact with confirmed COVID-19 cases.

They currently need to isolate for ten days though it is not clear how long the new period may be.

British Airways owner IAG (LON:IAG) dropped 4% to 104.25p, while budget carriers easyJet (LON:EZJ) and Ryanair (LON:RYA) shed 2% to 535.2p and €12.74 respectively.

Quick facts: International Consolidated Airlines Group

Price: 160.85 GBX

LSE:IAG
Market: LSE
Market Cap: £79.45 m
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