Hedge funds staying negative on European airline stocks

Hedge funds are continuing to bet against Europe’s travel industry, with several brand-name managers growing their shorts in travel staples such as easyJet and TUI, amid concerns the fallout from the coronavirus (Covid-19) outbreak could impact the continent’s tourism sector.

AQR Capital Management, the USD186 billion quantitative hedge fund, and London-based long/short giant Marshall Wace, were among those holding bets against TUI in the past month, according to regulatory disclosures.