Middle East conflict hits Asian airline shares and travel
Major Asian airline shares fell on Monday as strikes on Iran closed key hubs and raised oil prices. Thousands of passengers remain stranded across the globe.
Xurve View
Insights:
Xurve View
Major Asian airline stocks plummeted on Monday as escalating conflict in the Middle East disrupted global travel and drove energy costs higher. The downturn followed large-scale military strikes launched by the United States and Israel against Iran over the weekend.
In Australia, QANTAS AIRWAYS LTD-SPN ADR saw its shares drop 10.4% at the open before settling 6% lower. Regional peers SINGAPORE AIRLINES LTD and Japan Airlines Co., Ltd. also faced selling pressure, with both stocks falling more than 5%.
