US airline shares rise to pre-pandemic levels on vaccine hopes

United Airlines said it expects to halt its cash burn in March, sooner than forecast, while Delta Air Lines’ CEO said the carrier is ‘cautiously optimistic’ that it can halt its own cash burn this spring.

United States airlines on Monday pointed to concrete signs of an industry recovery as a slowing pandemic drives spring and summer leisure bookings, pushing shares to their highest level since the coronavirus crisis hit the sector a year ago. “I do think we’re near the end of the virtual world,” United Airlines Chief Executive Scott Kirby said at a JPMorgan conference. Airline executives said that accelerating US COVID-19 vaccinations have outstripped the number of positive cases, which are on the decline.