THE SHARES of several airlines - including British Airways' owner IAG, Easyjet and Ryanair - jumped yesterday as a result of carriers shrugging off concerns about the latest Covid variant, Omicron. Evidence showing the milder effect of Omicron, which has not yet caused any deaths, has led to IAG going up to 142.34p from a bottom of 127.66p touched last Tuesday.

Since 30 November, Ryanair's stocks have jumped 9.56 per cent, while Easyjet registered an 11.44 per cent hike.

Despite last week's re-introduction of mandatory PCR tests for those travelling into the country, carriers remained positive.

Speaking on Thursday at London's World Aviation Festival, Ryanair DAC's chief executive Eddie Wilson maintained that the airline's main focus was summer 2022, City A.M. reported.

"We were hoping that demand curve would really get going in January once we got through Christmas but then that had been sort of T-bond by the travel restrictions but we are still optimistic about next summer, we can see it in terms of pent-up demand," he said.

Wilson's words were echoed by other industry key players. After seeing encouraging signs for next summer, Easyjet's chief executive Johan Lundgren decided to adopt a more aggressive business strategy, buying slots at main hubs such as London Gatwick.

Airlines' confidence did not waiver even after the UK Government decided to re-introduce mandatory pre-departure tests for all those travelling to England from this morning at 4am.

Calling the measures a "hammer blow" to "an already devastated industry," leading stakeholders slammed the restrictions.

"Public safety is a priority, but businesses will fail, travellers will be stranded and livelihoods devastated by the lack of coherent plans from the government," said Clive Wratten, chief executive of the Business Travel Association (BTA).

According to tour operator trade association ABTA, the latest travel restrictions could push some smaller companies over the edge, forcing them to close for good. "We can't go on like this with requirements changing but nothing to support those businesses worst affected," said ABTA's boss Mark Tanzer.

(c) 2021 City A.M., source Newspaper