Shares of all major airline companies jumped on Monday morning after Pfizer announced that its coronavirus vaccine was more than 90 percent effective in the late stage trials. The news was welcomed by leading airlines that have been struggling to revive their business amid the pandemic.
Among the top air carriers, American Airlines Group Inc. (NASDAQ: AAL) was the most actively traded stock today that rose more than 17 percent in the mid-day trading Monday. Its trading volume climbed to 166 million shares, compared with the usual average of around 60 million shares.
US Global Jets ETF (NYSE: JETS) also jumped more than 15 percent, hitting the highest price in more than 5 months. The ETF is only focused on airline industry. The fund mainly invests in local airlines and companies associated to the aviation industry.
Now we will analyze the performance of the other notable airlines companies that jumped following the news. United Airlines Holdings Inc. (NASDAQ: UAL) shares rose more than 20 percent, Delta Air Lines Inc. (NYSE: DAL) shares are up more than 15 percent today. The latest surge marks the highest trading price for both stocks since June.
Moreover, Spirit Airlines Inc. (NYSE: SAVE) shares skyrocketed more than 22 percent this morning, touching the highest price in nearly 5 months. Separately, shares of Southwest Airlines Co. rose more than 16 percent, Alaska Air Group Inc. were up nearly 18 percent, and JetBlue Airways Corp. shares climbed more than 20 percent.
Airlines industry was the hardest hit sectors following the coronavirus outbreak. Governments around the world implemented lockdowns to contain the spread of the virus that severely affected the operations of major airline companies. The travel restrictions were softened in June, though the Covid-19 cases have once again jumped as winter approached that has once again created fears of travel restrictions.
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