Alaska Air Group suspended its full-year financial guidance Monday, pointing to volatile fuel costs stoked by the conflict in Iran. The Seattle-based carrier expects April fuel prices around $4.75 per gallon, with an average of $4.50 for the current quarter. Shares fell 2% to $42.67 in after-hours trading.

The fuel cost spike adds approximately $600 million in additional expenses and creates a $3.60 earnings-per-share headwind, the company said. "Until conditions stabilize and we have better sight to earnings beyond the current quarter, we have suspended full-year guidance," Alaska Air said, noting recent geopolitical factors have caused sharp and unpredictable changes in fuel prices.

The stock closed at $43.54, down 4.1% for the day and 15% year to date. The guidance suspension underscores how Middle East tensions are rippling through the airline industry's cost structure, leaving investors with limited visibility into carrier profitability for the remainder of the year.