Airline Stocks Trade Mixed as Middle East Flights Resume
Airline shares were mixed on Thursday as some flights resumed. Rising fuel costs and airspace closures persist as governments repatriate stranded citizens.
The aviation industry is navigating a period of intense volatility as airline shares diverged on Thursday following a series of military strikes involving the United States, Israel, and Iran. Massive disruptions in the global aviation market have been triggered by the closure of regional airspace, though some recovery was noted as flight activity slowly resumed in the United Arab Emirates.
In Hong Kong, CATHAY PACIFIC AIRWAYS saw its shares rise, paring losses from earlier in the week. Similar gains were observed for Korean Air Lines Co., Ltd. in South Korea. However, the sector remained under pressure across other parts of Asia; major carriers in China, including AIR CHINA LTD-H, CHINA EASTERN AIRLINES CO-H, and China Southern Airlines Company Limited, fell between 1% and 4%. In Japan, Japan Airlines Co., Ltd. also recorded a slight decline.
