After the emergence of a new mutated strain of “Corona”

Suspension of air travel from South Africa slashes European airline shares

Shares of the parent company of British Airways fell by 21%.

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Shares of European airlines fell yesterday, after international moves to impose restrictions on air travel from some southern African countries, after the emergence of a new mutated strain of the “Corona” virus.

Shares of IAGSA, the parent company of British Airways, fell by 21%, and shares of the German airline Lufthansa fell by 14%.

In turn, "Air Ryan", "Air France-KLM", and other European airlines recorded similar declines in their shares.

Yesterday, the German Minister of Health, Jens Young, announced that his country had decided to classify the country of South Africa as a region of the “Corona” mutant, because of the new mutant “B.1.1529”, adding that the decision will enter into force as of last night.

He explained that only airlines will be allowed to return German citizens from there to Germany.

Spahn added that this would also apply to countries neighboring South Africa, if necessary.

In turn, the European Union announced that it would propose stopping air travel from southern Africa, in light of growing concerns about the new strain of the "Corona" virus that is spreading in that region.

The European Commission President, Ursula van der Leyen, said in a tweet on Twitter: “The bloc will propose, in close coordination with member states, to activate emergency brakes in order to stop air travel from the southern African region, Because of fears of the new mutated strain.”

The move comes days after the European Union revised its travel rules in order to facilitate travel between and to member states.

For its part, Israel and Britain announced, on Thursday, the imposition of new travel restrictions on many African countries, due to concerns about a new strain of the “Corona” virus.

Travel restrictions represent another blow to the airline industry, whose recovery process was affected this month by the fourth wave of the Corona pandemic, which caused a new series of closures in Europe.

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