Asian airline stocks tumbled Monday as escalating U.S. and Israeli strikes on Iran sent oil prices surging and heightened fears of regional conflict. Hong Kong-listed Cathay Pacific fell 4%, while Japan Airlines dropped 8% and South Korea's Asiana plummeted over 7%.
The declines followed weekend attacks that killed Iran's Supreme Leader, triggering retaliatory missile barrages and escalating tensions. Brent crude prices jumped sharply, a critical input cost for airlines already facing Middle East route disruptions. Hong Kong-listed Cathay Pacific fell 4%, while Japan Airlines dropped 8% and South Korea's Asiana plummeted over 7%. The declines followed weekend attacks that killed Iran's Supreme Leader, triggering retaliatory missile barrages and escalating tensions. Brent crude prices jumped sharply, a critical input cost for airlines already facing Middle East route disruptions.
Source: Investing.com News · Summarized by HeadlinesBriefing