With hopes that their season in hell could be approaching an end, airline stocks are on a tear.
Shares in Singapore Airlines Ltd. jumped the most in 21 years on Tuesday, while those in Cathay Pacific Airways Ltd. were up the most since 2008 after Singapore and Hong Kong announced the opening of a travel bubble starting 22 November. News of successful trials of a Pfizer Inc. and BioNTech SE coronavirus vaccine pushed the Bloomberg World Airlines Index up 9.7% on Monday in anticipation of an ebbing tide of pandemic.
The cavalry had better come quickly. Right now, much of the industry is running short of rations.
