Beaten-Down Airline Stocks Celebrate Easing of Travel Rules
- Shares have rallied as U.S., U.K. to ease travel restrictions
- European sector remains about 25% below pre-pandemic levels
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The easing of U.S. and U.K. travel restrictions is breathing new life into European airline stocks.
British Airways owner IAG SA has been the star of the show in the last two weeks, soaring 21% after the White House said America would open up to vaccinated foreigners and the U.K. relaxed coronavirus testing requirements for fully jabbed arrivals. Air France-KLM and Deutsche Lufthansa AG have also rallied strongly, as have budget carriers such as Ryanair Holdings Plc.