Why Shares of United Airlines Soared Today

Shares of United Airlines Holdings (NASDAQ: UAL) gained 4.9% on Thursday as the company received a warm reception for its debt offering. The airlines are in a battle for their survival, and United's ability to raise additional cash goes a long way toward making sure it can outlast the COVID-19 pandemic.

Airlines have been hit hard by COVID-19, which has caused travel demand to plummet. The airlines are expecting it to take years for travel to return to pre-pandemic levels, and rising case levels in a number of tourism hotbeds have stoked fears that the pandemic is resurgent, and a recovery could take even longer than expected.

Image source: United Airlines.

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Source Fool.com