Written two days back, published today:
I think that the vaccine will be rolling out between the New Year and the spring. Not based upon any grand knowledge of pharma, rather that the entire global industry is focused on this and I don’t expect them to fail. Also, don’t forget, the European drug regulators are – amazingly – a little more relaxed than the FDA about approval of something valuable but not wholly and entirely proven as yet.
I also think that Easyjet has the finances to be able to survive until then in this cash is king world.
The investor view
It’s necessary to believe both of those pieces to think this is worthwhile. Only some months to a vaccine and also that the airline will survive until then. But with that then Easyjet is a leveraged punt on that vaccine arrival.