XpresSpa's Stock Takes Flight After Securing COVID-19 Testing Services With United Airlines

Shares of XpresSpa Group Inc XSPA traded sharply higher Thursday morning after a subsidiary secured a national agreement with United Airlines Holdings Inc UAL to provide COVID-19 testing services.

What Happened: XpresSpa is an airport retailer of spa services and related health and wellness products. The company pivoted during the pandemic by transforming its space to serve as a testing center.

The company said the new agreement between a subsidiary and United Airlines will start on Dec. 21 at the Newark Liberty Airport in New York and Denver International Airport.

XpresCheck will provide pre-travel testing with rapid testing kits to individuals. Anyone who tested positive must leave the airport along with their travel companions and self-isolate per government guidelines.

See Also: Amazon Seeks Priority Access To COVID-19 Vaccine For Its Front-Line Workers

Why It's Important: XpresSpa is playing a key role in restoring travel confidence and safety.

"We are very pleased to support United's efforts to provide their customers with more testing options to meet their destination entry requirements with our easy rapid molecular testing protocol and convenient on-site testing facilities," said Doug Satzman, XpresSpa CEO.

What's Next: United was the first airliner to offer testing options at the airport and continues to examine how it can offer more testing options.

"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 Chief Customer Officer Toby Enqvist.

XpresSpa's stock was up 23% to $1.78 at publication time.

Image: Flickr/Sharon Hahn Darlin.