Airline Stocks Are Soaring, But There’s Still a Long Way Back

It is going to be years until the airlines get back to pre-pandemic capacity and don't expect much recovery this year at all. The way the vaccine is rolling out there will be very little international travel especially to Europe where the EU screwed up badly in ordering the vaccine and the bloated bureaucratic governments cant get their acts together to immunize their populations.
The stock trading doesn't represent the value of the company but the price a buyer is willing to pay to a seller of the stock. The company gets little from the valuation of the stock, just the individual investor who may or may not work or retire from the airline.