The travel industry has been one of the hardest-hit by the pandemic, and this week was nothing short of a rollercoaster ride for onlookers. One such onlooker was the Queen herself, urging the people of the UK to get their vaccines in order for us to get back to our old normal.
It didn't end there, either -- between Boeing's $6.6 million FAA fine, hotel chains Hilton Worldwide and Las Vegas Sands seeing declines, and the likes of Carnival and Norwegian Cruise Line posting dire results, here are a few of the travel-related markets that made headlines (and moves) this week.
That's how much time will have lapsed since lockdown began in March 2020, until June 21st, 2021 – the date by which all restrictions are expected to be lifted in the UK. Prime Minister Johnson shared his roadmap with the nation earlier this week, outlining the stages in which lockdown will be lifted.
With now close to 19 million people vaccinated (first dose), and roughly half a million more each day (according to the gov.uk dashboard), normalcy looks to be right around the corner. Johnson warned that his plan would be cautious but irreversible, and with an end in sight, Brits jumped at the chance to start booking their holidays, appointments, and reservations. Travel shares were up in Tuesday's session, and continued into Wednesday, with easyJet ($EZJ.L) at the forefront with an 18% gain in two days; a total gain of over 33% in February.
By comparison, the FTSE100 (of which EZJ is a component) rose 3.4% in February.
Airbnb's first financials since going public
In the company's first earnings report since its December 10th Nasdaq IPO, Airbnb reported a $3.89 billion net loss in Q4, plunging 9% Thursday. Year-on-year, its fourth quarter revenue fell 22% but still beating Wall St estimates at $859 million (versus the $747.6 million forecast).
The loss was attributed to global lockdowns that have impacted the wider travel industry, with the company adding that 2021 was difficult to forecast this early on, but expects any decline to be lower than that of Q4.
Despite Thursday's drop, ABNB shares are still up 24% YTD.
Movers & shakers
🔺 International Airlines Group (IAG.L), parent company of British Airways gained 4% Friday morning, despite posting a record loss of €7.4 billion. Read more via The Financial Times
🔻 United Airlines (UAL) fell almost 6% Thursday after its board approved a sale of shares. For the full story, visit The Motley Fool