Easyjet and Ryanair spreads fly in amid hopes of Covid-19 vaccine

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By Burhan Khadbai
12 Aug 2020

Airlines Easyjet and Ryanair were the two standout performers in the European secondary investment grade bond market on Tuesday with their spreads coming in by over 20bp in response to growing hopes that a Covid-19 vaccine is almost ready.

“It was a reflection of the overall bullish sentiment during yesterday’s European session about the news of a potential vaccine,” said a corporate credit analyst. “The news out of Russia has been taken positively that we are getting close to some sort of vaccine in the western world.”

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