British Airways stock recorded the worst performance ever on the London Stock Exchange, with investors suffering the largest losses due to the repercussions of the Corona epidemic during the year 2020.
According to Arabianet, data published by the financial intermediary company (AJ Bell) showed that the stock of the British Airways company recorded the worst performance among the companies listed on the FTSE 100 Index. , Which is the 100 largest companies listed on the London Stock Exchange.
and by the beginning of December 2020, the share of IAG.L, which owns British Airways and other companies, had decreased by 60%, compared to what it was at the beginning of the year .
followed by among the worst performers is the stock of Ross Rice, which lost just over 48% of its value during the current year 2020.
These severe losses for these stocks come at a time when the FTSE 100 index declined during the current year by only 13%, meaning that the average decline in the major companies listed in the market was Much less than these companies incurred.
Economic analysts say that the poor performance of the two companies in the market, due to the fact that the emergence of the Corona pandemic led to the suspension of international travel since early 2020, and flights are still facing difficulty in recovery So far.
Coronavirus was bad news for airlines like IAG and also for its suppliers, including Rose Rice, whose business revolves around a large part of its business around aircraft engines and the lack of travel traffic Demand for the sale and maintenance of aircraft engines also disappeared.
Neil Wilson, chief market analyst at Markets.com, said stocks are not expected to return to pre-pandemic levels next year, as travel levels are not seen. Passengers are returning to 2019 numbers for some years, but a steady reopening of the economy and pent-up demand among vacationers to go out and travel should support a return to boarding in 2021.
