"In the first hours of trading in Europe on Monday, shares in the continent's biggest airline groups - IAG, Air France-KLM, and Lufthansa - all plunged as investors digested the potential for long-term disruption to the airline industry due to the conflict."
"Initial US and Israeli attacks on Iran, and subsequent Iranian retaliation, led to the closure of virtually all airspace across the region. Iran, Iraq, Kuwait, Bahrain, Qatar, Israel, and the United Arab Emirates all closed their airspace."
"Tens of thousands of flights were delayed or canceled over the weekend, with scores of passengers stranded around the globe, largely due to the closure of major hub airports in the region."
Military strikes on Iran by the US and Israel caused significant disruption to global air travel, leading to major stock declines among Europe's largest airline groups. IAG, Air France-KLM, and Lufthansa shares dropped between 5-8% on Monday morning, while Asia-Pacific carriers including Qantas, Cathay Pacific, Singapore Airlines, and Japan Airlines experienced similar declines. The conflict prompted airspace closures across Iran, Iraq, Kuwait, Bahrain, Qatar, Israel, and the United Arab Emirates, resulting in tens of thousands of delayed or canceled flights and stranded passengers worldwide. Hub airports in the Middle East faced severe operational disruptions, with further travel chaos expected to persist in coming days.
Read at Business Insider
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