Airline along with other travel-related stocks dropped as FDA temporarily stopped the use of Johnson & Johnson’s COVID19 vaccine on Tuesday. There were reports that the Johnson & Johnson’s COVID19 vaccine caused rare blood clotting disorder to six individuals in the US. J&J announced that there’s “no causal relationship” between blood clots and their vaccine.
Among airline stocks that slipped included Delta Air, United, and American. Delta Air Lines shares dropped by 2% while United Airlines’ was off by less than 1%. American Airlines was the biggest loser dropping more than 2% after US regulators paused the use of Johnson & Johnson’s COVID19 vaccine.
Cruise operators also experienced losses after FDA’s announcement. Carnival and Norwegian Cruise Lines were down by less than 1%. On the other hand, hotel operators Marriot lost more than 1% while Hilton dropped by less than 1%.
Out of an Abundance of Caution
The FDA calls this move to ban Johnson & Johnson’s COVID19 vaccine “out of an abundance of caution”. Six women in the US developed a rare blood clotting disorder that caused one death and another in critical condition. The FDA together with the CDC states that the “adverse events appear to be extremely rare”.
The six cases were women aged 18 to 48 years old. The symptoms developed around 6 to 13 days after getting their shot.
Dr. Ane Schuchat who is the principal deputy director of the CDC said that those who received the vaccine last month are safe. She added that those who took the vaccine within the last weeks “should be aware to look for any symptoms”. Among symptoms include severe headache, abdominal pain, leg pain, or shortness of breath.
The airline industry and travel-related businesses expect summer travel to pick up. With vaccination roll-out, many can now travel with peace of mind. The CDC even changed its tune when it comes to travelers who completed their vaccination.