On November 16, 2020, the second time in a month, the aviation industry experienced a surge in shares after the news on Moderna vaccine effectiveness broke.
American biotechnology company Moderna announced that their coronavirus vaccine trial was nearly 95% effective in preventing COVID-19 infection, making it the second vaccine in the United States to have such a high success rate. While the vaccine is still to be approved by the authorities, the second successful vaccine trial in a month indicates that it could potentially be made available by the end of 2020.
Following the news, aerospace giants’ Boeing shares rose up 4.1% and General Electric surged by 3.7%. Meanwhile, British Airways-owner IAG grew up by 12%, while EasyJet went up 8%, according to Market Watch.
The last significant surge in the aviation stock market was spotted when Pfizer together with BioNTech reported the news of their 90% effective vaccine trial on November 9, 2020.