The UK's new quarantine rule for people traveling from Spain is a major setback for consumer confidence. 

This is the opinion of the aviation industry organization IATA, reports Reuters.

Confidence in travel depends on government cooperation to manage risks, rather than having a "stop-and-go" approach to restrictions, IATA said.

As a consequence, tour operator Tui has chosen to cancel trips to mainland Spain for approximately two weeks, as reported by several international media outlets. The stock was down 11.7 percent on Monday afternoon. 

Easyjet fell 10.3 percent at the same time, while British Airways owner IAG fell 7.6 percent.

Ryanair, which reported on Monday morning, traded down 5.5 percent. 

Source: TT