The travel sector is struggling with declining demand due to holidaymakers avoiding foreign trips and opting for staycations amid the Iran war. EasyJet, among other stocks, has seen its value plummet amid investor concerns.
More than £21 billion has been wiped off the value of the world's biggest travel stocks since the outbreak of the Iran war. The sector is grappling with a hit in demand as holidaymakers swerve trips abroad in favour of less anxiety-inducing staycations.
According to eToro, EasyJet has been the biggest loser, with £580million wiped off its value since February 28. Cruise operators Carnival and Royal Caribbean have also taken big hits, losing a combined £16 billion, according to eToro. Investor concern that higher oil prices, possible disruption to airspace and weaker consumer confidence could hit demand during the key travel season, reflects the wipe-out.
Tui had absorbed about £35million in extra costs from the war in March, including paying for 5,000 customers to return home from two of its cruise ships trapped in Abu Dhabi and Doha. Due to the uncertainties, customers are booking closer to their departure times. EasyJet will next week shine a further light on whether customers have been put off by headlines over potential increases to ticket prices when it updates the City on Thursday. Related Topics: [Travel Stocks, Iran War, TUI,Errazuku]
Travel Stocks Iran War TUI Easyjet Cruise Operators Travel Demand
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Actor Hill Harper reflects on impact of Big Brothers Big Sisters mentoringThe mentoring relationship for Big Brothers or Big Sisters can last for at least a year and potentially a lifetime.
Read more »
The Amazing Digital Circus Steps Into The Manga World With This Big RevealWith the series finale hitting theaters, the Digital Circus is hitting a new medium.
Read more »
Iran confirms squad heading to Türkiye for 2026 World Cup preparationsThe team hope to secure two friendlies and complete visa applications in Türkiye before heading to the United States.
Read more »
Iran men's soccer team heading to Turkey for World Cup preparationsIran and the U.S. cut diplomatic ties in 1980, and the players are expected to use their time in Turkey to complete the necessary procedures for obtaining visas.
Read more »