Why the Webjet (ASX:WEB) share price closed 5% higher today

The Webjet Limited (ASX: WEB) share price rocketed higher on Tuesday afternoon after the unveiling of the Trans-Tasman Travel Bubble. 

Travel bubble sees Webjet share price surge

ASX travel shares rocketed higher on Tuesday afternoon after the much-anticipated announcement from New Zealand Prime Minister Jacinda Ardern. Ms Ardern said plans were in place for an April 19 two-way travel bubble between Australia and New Zealand.

That marks the first quarantine-free travel arrangement for Australia since the coronavirus pandemic began over 12 months ago. Naturally, investors piled into ASX travel shares following the good news for the sector.

The Webjet share price was no exception as it closed 5.7% higher on Tuesday. It was also a…