How are ASX 200 travel shares faring over the holiday season?

These travel shares were taking off today.
The post How are ASX 200 travel shares faring over the holiday season? appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) travel shares lifted on Wednesday, despite the COVID-19 Omicron variant impacting travel plans around the world.

The Qantas Airways Limited (ASX: QAN) share price led the pack today followed by Flight Centre Travel Group Ltd (ASX: FLT) and Webjet Limited (ASX: WEB).

Let’s take a look at what may be impacting ASX 200 travel shares lately.

Travel made easier

ASX 200 travel shares have taken a turn for the better following the Christmas break. Shares in Qantas were up by 1.62% from their closing price last Friday, while Flight Centre shares climbed 0.68% and Webjet had jumped 0.19% at the close of trade on Wednesday.

One announcement opening the way for people to travel more freely played out in Queensland. The State Government announced that travellers entering the sunshine state would no longer have to produce a negative PCR test. A rapid antigen test, which is much quicker, will now be the only requirement to cross this interstate border.

Commenting on the change, Queensland Premier Annastacia Palaszczuk said:

The Chief Health Officer is satisfied that a negative result using a rapid antigen test is sufficient for interstate arrivals.

Another factor that may be driving the Qantas share price was some positive news on international travel.

According to the Sydney Morning Herald, which obtained an internal memo from the company, the airline will be returning its A380 from the desert to the skies three months earlier than planned.

The A380 service will fly from Sydney to Los Angeles three times a week from 11 January 2022, and has almost double the passenger seats as the airline’s 787 planes.

The positive territory for ASX travel shares today came amid thousands of flight cancellations over the Christmas break. FlightAware data shows there was a 14% decrease in flight activity globally compared to last week.

The travel shares also rose today despite record case numbers of COVID-19 in some states. NSW recorded 11,201 cases, while the SA Government reported 1,471 cases.

ASX 200 travel shares recap

At the market close today, the Qantas share price was trading at $5.02, up 3.5% year to date and up 0.40% this month.

Meanwhile, Flight Centre travel shares closed at $17.84, rising 12.56% this year and 4.08% over the past month.

Webjet shares were swapping hands at $5.30, climbing 4.54% year to date but down 0.93% this month.

In comparison, the S&P/ASX 200 Index (ASX: XJO) is up more than 12% this year to date.

The post How are ASX 200 travel shares faring over the holiday season? appeared first on The Motley Fool Australia.

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More reading

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ASX 200 (ASX:XJO) midday update: AMP shoots higher, travel shares rise

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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