European stock markets are being dragged down, in part, by falling travel company shares

By: Trademagazin Date: 2025. 03. 24. 10:42

Leading European stock indexes weakened on Friday morning, mainly due to the fall in travel companies, after London’s Heathrow Airport was closed for the whole day due to a fire and a power outage, affecting hundreds of thousands of passengers.

Airline stocks were in a serious red this morning. Shortly before 11 am, IAG’s share price was down 1.2 percent, Lufthansa’s was down 2.31 percent, Air France-KLM was down 2 percent, and easyJet was down 1.3 percent.

German travel company TUI fell 2.9 percent.

The FTSE100 index on the London Stock Exchange fell 0.43 percent, the DAX index on the Frankfurt Stock Exchange fell 1.04 percent, and the CAC40 index in Paris fell 0.71 percent.

Heathrow, Europe’s busiest airport, said in a statement on Friday morning that the fire broke out at an electrical substation supplying the airport in the Hayes area, 2.4 kilometres north of Heathrow, and caused a major power outage at Heathrow. The airport, located on the western outskirts of London, will remain closed until 23:59 on Friday.