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British Airways Owner Falls Most in a Year on Summer Doubts

IAG leads industry lower amid U.K. comments; EasyJet, TUI drop
U.S. carriers also down as new lockdowns hit hopes for rebound

Aircraft operated by British Airways on the runway at London Heathrow Airport. — Aircraft operated by British Airways on the runway at London Heathrow Airport.
Photographer: Chris Ratcliffe/Bloomberg

By

Siddharth Vikram Philip and

March 22, 2021, 9:26 AM UTCUpdated onMarch 22, 2021, 3:21 PM UTC

British Airways parent IAG SA led a decline in European aviation stocks amid concern that a third wave of Covid-19 and emerging doubts surrounding U.K. plans to restore travel could stymie prospects for rebounding bookings.

IAG fell as much as 16%, the most since March 16, 2020, when lockdowns went into effect across the world. EasyJet Plc slid 10%, Ryanair Holdings Plc 7.4% and tour operator TUI AG 8.9%. U.S. carriers with trans-Atlantic exposure were also priced lower in morning trading in New York.