Investors reacted to events in Egypt by sending the share values of major travel companies in London falling yesterday and raising the oil price.
Thomas Cook suffered a 3% fall on the London Stock Exchange while shares in Tui Travel fell 2.6%. Thomas Cook shares have lost 16% of their value over the past year.
New British Airways parent International Airlines Group (IAG), formed by the merger with Iberia, declined in value by 1.76%. The IAG share price has fallen 10% since its launch at the start of last week.
EasyJet was largely static on the market yesterday, but its shares remain 14% down since mid-January after suffering their biggest one-day fall in six years on January 20 when the carrier warned rising fuel prices would hit profits.
The oil price was close to $100 a barrel at the close of trading in London yesterday, driving up the cost of jet fuel. Airline association IATA reported airline fuel already one-third more expensive than a year ago before the latest price hike.