Major airline stocks fell sharply Monday as US and Israeli strikes on Iran triggered widespread disruption across Middle East airspace.
In Europe, shares of International Airlines Group — parent of British Airways — dropped more than 5%. Air France-KLM fell nearly 9%, while Lufthansa declined about 6% as investors weighed the risk of prolonged instability.
Airlines in Asia-Pacific also slid, including Qantas, Cathay Pacific, Singapore Airlines, and Japan Airlines, each down around 5%. In the US, American Airlines, Delta Air Lines, and United Airlines were also lower in premarket trading.
Military action and subsequent retaliation led to the closure of airspace across Iran, Iraq, Kuwait, Bahrain, Qatar, Israel, and the UAE, forcing tens of thousands of flight cancellations and delays.
With major hub carriers like Qatar Airways, Etihad Airways, and Emirates affected, the disruption is expected to ripple through global travel for days.