ANALYSIS-Europe's COVID-19 setbacks risk another summer travel washout

British Airways owner IAG raised 1.2 billion euros ($1.43 billion) in a bond issue on Thursday, saying the cushion would protect it from a drawn-out slump. A patchy stop-start summer may pose fewer difficulties for low-cost airlines such as Ryanair and Wizz Air, which can redeploy planes quickly between routes.

LONDON/PARIS: Europe's airlines and travel sector are bracing for a second lost summer, with rebound hopes increasingly challenged by a hobbled COVID-19 vaccine rollout, resurgent infections and new lockdowns.

Airline and travel stocks fell on Friday after Paris and much of northern France shut down for a month, days after Italy introduced stiff business and movement curbs for most of the country including Rome and Milan.