Airline stocks plunge as flights to Middle East cancelled
The Middle East conflict has sent some airline stocks lower with many carriers cancelling flights to Tel Aviv due to escalating violence in the region. IGTV’s Angela Barnes has this round-up.
(Video Transcript)
Some flights suspended due to conflict
The Middle East conflict has sent airline stocks down this morning with International Consolidated Airlines Group (IAG), easyJet, Wizz Air and Air France-KLM among the stocks in the sector under pressure. While Wizz Air has cancelled flights to and from Tel Aviv until further notice, other airlines have also suspended their flights to Tel Aviv as a result of the violence.
If we look at some of the charts this morning, starting with IAG and its share price is down 4.35%. And then if we cross over to easyJet as well, also down this morning 5.35%. Ryanair down 3% roughly as well. Wizz Air too, down 7%. And Air France-KLM as well, nearly 5%.
So generally across the board, all airline stocks there, many of them in the red, many putting it down to a result of the violence in the Middle East impacting flights that have been cancelled among many of these airlines as well.
Global airline capacity set to beat 2019 levels
American Airlines and United Airline Holdings as well as Delta Air Lines are also due to cancel flights to Tel Aviv as a result of the violence. And these three are all-session stocks on the IG platform. Also, as you can see, all in the red today as well.
Meanwhile, global airline capacity is poised to surpass 2019 levels, according to data from Syrian, finally recovering from the impact of the Covid-19 pandemic.
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