Is the Qantas (ASX:QAN) share price flying closer to recovery?

The Qantas Airways Ltd (ASX: QAN) share price is making a miraculous recovery fuelled by vaccine hopes and reopening borders. The recent strength of airlines is demonstrated by the 30% increase in the US Global Jets ETF in November, which comprises various airline carriers around the world including Qantas. 

Qantas is now within 25% of its previous record all-time high set in December 2019. However, it may feel like the share price has run before its business has made a material recovery. So, what are the current circumstances for the business? And what can investors look forward to in FY21? 

Current border situation 

Australia’s COVID-19 border restrictions have eased again with only South Australia listed as a hotspot for…