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XpresSpa Stock Surges 25% On News Of United Airlines Partnership

Sam Boughedda trader
Updated 17 Dec 2020

Practice Stock Trading

Shares of health and wellness company XpresSpa Group (NASDAQ: XSPA) are rallying on Thursday after the company announced its XpresCheck subsidiary has entered into an agreement with United Airlines (NASDAQ: UAL) to offer COVID-19 testing services.

The services will start at Newark Liberty International Airport (EWR) and Denver International Airport (DEN), on Monday the 21st of December, supporting direct flights to Hawaii.

“Our partnership with United Airlines will start with select flights to Hawaii in two major hub airports and expand to additional cities as our plans continue to develop,” stated Doug Satzman, XpresSpa’s CEO.

XpresCheck will provide pre-travel testing on-site with rapid molecular testing services for passengers.

“Our partnership with XpresCheck represents another way we can continue to meet our customers’ needs and contribute to creating the safest travel experience possible,” said United Airlines Chief Customer Officer, Toby Enqvist.

XpresSpa shares are currently trading 21.72% higher at $1.77, having initially reached highs of $1.98 following the news.

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.