Boeing, airline stocks tumble as new Covid variant spurs travel curbs – CNBC

Passengers, wearing protective face masks, walk through the international arrivals hall after arriving at Terminal 2 at London Heathrow Airport.Simon Dawson | Bloomberg | Getty ImagesBoeing, airlines and other travel stocks tumbled on Friday after several European and Asian countries announced new travel restrictions from southern Africa because of a new Covid variant.European Union member nations on Friday agreed to suspend travel from the region, a day after the U.K. said it would temporarily suspend flights from South Africa, Namibia, Lesotho, Eswatini, Zimbabwe and Botswana. The U.S. starting Monday will bar entry to visitors from South Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi. The Biden administration announced that decision after the stock market closed on Friday.South African scientists detected the variant, which contains high numbers of mutations, raising concerns that it could spread quickly.Health officials cautioned more research is needed, but the new travel restrictions highlight how quickly countries can limit travel as new variants are detected. The fast-spreading delta variant of the virus earlier this year drove down travel demand and prompted some companies to delay employees’ return to the office.Airlines and aircraft manufacturers like Boeing have been upbeat about a rebound in travel demand, particularly from…
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