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. And Singapore Airlines’ $6.5 billion rights issue in June represents the biggest raising of additional equity by any airline in world history. Elsewhere in the world, however, working the balance sheet has often been bringing in more money than selling transport services. In spite of the slump in share prices, investors still show a surprising amount of enthusiasm for airlines.

Source: Mint November 16, 2020 15:22 UTC