The breaking news that Pfizer and BioNTech have produced an effective coronavirus vaccine that can prevent more than 90% of people from contracting COVID-19, has positively impacting airline shares. The developers, which have tested the vaccine on 43,500 people in six countries with no safety concerns, have described the news as a "great day for science and humanity".
In the UK and European, airline shares have risen sharply. For example: IAG shares spiked 40% higher on the news, easyJet shares similarly spiked, with Air France-KLM shares up 22%.
In the US, American Airlines shares rose more than 25% in premarket trading, Delta Air Lines was up 17% and United Airlines gained more than 19%. Boeing shares also rose more than 16%.