Posted on December 16 2018
Shares in European airline and leisure stocks are stumbling following two terror attacks in Spain that have killed at least 13 people and left dozens injured.
Tourism is crucial for Spain, contributing more than 14% of the country’s economy in 2016, according to the World Travel & Tourism Council.
Barcelona is the country’s most popular destination, welcoming about 8 million international visitors a year who stay at least one night in the city. It’s most visited site is the Sagrada Familia church, which hosted 4.6 million visitors last year. Barcelona is also Europe’s most popular cruise port, according to research firm Euromonitor. Due to the current security situation, International Airlines Group (ICAGY), the parent company of British Airways and Spanish airline Iberia, fell 2.46% to 609 pence. Easyjet (ESYJY) was down 2.38%, Lufthansa (DLAKY) lost 1.74% and Air France KLM (AFLYY) lost 3.19%. Low-cost airline Ryanair (RYAAY) was marked 4.21% lower in London, changing hands at 18.48 pence a share, after gaining almost 10% over the past three months. Spanish airport operator Aena and hotel chain Melia were down 1.76% and 1.70% respectively.
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