The decision of several countries to ban flights to the United Kingdom is

the third major blow to the tourism sector

, with the airlines, once again, in the front line.

The blow comes in the middle of the Christmas season, which is usually the busiest time after the summer, and with the airlines already in an extreme situation.

Most of them had cut their offer of flights for these dates, before the drastic fall in reservations.

Tourist values ​​could experience a black day on the stock market this Monday, as they are the most exposed to the economic effects of the pandemic.

The impact is great in groups such as IAG, to which Iberia and British Airways belong, and which is listed in both Madrid and London.

The decision

also affects other companies that are already very weak, such as the German Lufthansa or the Dutch KLM

.

Both have received state aid of 9,000 million, the first, and 3,400 million, the second, to be able to survive this crisis.

This means finishing off an air sector that is already at the limit, with losses estimated at 100,000 million dollars according to IATA, the International Air Transport Agency.

When the pandemic broke out in China, airlines began canceling flights to the Asian country.

Three waves

Months later, when the virus reached Europe, the borders were closed.

During the confinement the companies were stopped, with the planes parked, without entering, burning cash and increasing debt.

It must be remembered that it is one of the sectors with a heavier cost structure, less easy to reduce.

After this first wave,

the second blow to the sector came in the summer

, when countries such as the United Kingdom and Germany imposed quarantines and this totally stopped travel.

With a

fall in air traffic of more than 70%

(in the months of confinement the activity was practically nil), European governments have had to spend billions of euros to rescue their flagship companies.

If it were not for the aid that France, Germany and the Netherlands, among other countries, have injected into Air France, Lufthansa or KLM

, these companies would not have withstood this crisis.

In Spain, Air Europa has received 475 million from the state to avoid bankruptcy.

In fact, its purchase by Iberia, of the IAG group, is about to be closed.

According to the criteria of The Trust Project

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  • UK

  • Germany

  • Lufthansa

  • Iberia

  • Holland

  • Madrid

  • London

  • France

  • China

  • British Airways

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