Airline shares take off as amber list scrapped and traffic rises

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Rabbits on listed airlines took off on Monday morning as the budget giant reported rising passenger numbers and an easing of travel restrictions in the UK.

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Ryanair said it transported 10.6 million people last month – more than double the number reported for September 2020 – while competitor Wizz Air said it carried about 3 million passengers, a 91% increase.

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The update came after the government changed several COVID list categories for countries to a “red list”, making travel simpler and affordable for many people.

Fully vaccinated people entering the UK from all “red list” countries will only need to complete a PCR test two days after their arrival in the UK.

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Shares of Ryanair were up 2.6% in the morning, while shares of British Airways parent company IAG were up nearly 1%. Bank of America’s Sky Tracker also reported that international bookings are on the rise after the US announced the easing of travel restrictions, news IAG is likely to boost.

Hungary-based Wizz Air and EasyJet both saw shares rise in early trade and then back down to levels. Last month EasyJet rejected a takeover offer from Wizz, which is pursuing expansion into Western Europe.

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