Flight Centre (ASX:FLT) share price jumps as boss applauds NSW quarantine stance

Vaccinated Aussies will soon be able to return from overseas into NSW without quarantining

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The Flight Centre Travel Group Ltd (ASX: FLT) share price surged nearly 4% higher on Friday. This came amid the NSW Government’s decision to scrap quarantine entirely.

Australia’s most populous state will open its international borders and scrap all forms of mandatory quarantine for vaccinated arrivals from 1 November.

In response to the decision, Flight Centre’s CEO Graham Turner told media the decision is “common sense”. The Australian Financial Review quoted Turner as saying: “Fully vaccinated people coming in, whether they’re from Queensland or the UK, if they are vaccinated, they are probably safer than someone down the street.”

As of Friday’s close, the Flight Centre share price is $22.56. That’s 3.77% higher than it was when the ASX closed on Thursday.

That’s a better performance than that of the broader market on Friday. The S&P/ASX 200 Index (ASX: XJO) and the All Ordinaries Index (ASX: XAO) ended the session 0.7% higher.

Meanwhile, the share prices of Qantas Airways Limited (ASX: QAN) and Webjet Limited (ASX: WEB) gained 1.9% and 4% respectively.

Let’s take a closer look at NSW’s new travel freedoms.

Flight Centre share price lifts after NSW scraps quarantine

NSW Premier Dominic Perrottet commented on the benefits he believes the state will see once it allows quarantine-free international travel. Perrottet stated: “Welcoming back fully vaccinated travellers will not only mean families and friends can be home in time for Christmas, it will also give our economy a major boost.”

Prime Minister Scott Morrison also weighed in on NSW’s plan to allow vaccinated travellers into Australia without quarantining, saying it demonstrated the freedoms vaccination against COVID-19 can provide.

However, Morrison was quick to clear up who can and can’t arrive in NSW from next month.

“This decision is about Australian residents and citizens first. The Commonwealth Government has made no decision to allow other visa holders… to come into Australia under these arrangements,” he said.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. 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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