00:00It's Benzinga bringing Wall Street to Main Street. Travel shares fell Monday as escalating
00:04conflict between the U.S., Israel, and Iran-disrupted flights, closed major Middle Eastern
00:10hubs, and pushed oil prices up as much as 13%, according to Reuters. Major Gulf hubs,
00:16including Dubai, remained closed for a third day, stranding tens of thousands of passengers
00:22and marking aviation's biggest test since the COVID-19 pandemic. A group of 29 airlines,
00:28hotels, and travel companies from Europe, Asia, and North America lost $22.6 billion in market value.
00:36Delta Airlines, United Airlines, and American Airlines fell between 2% and 4%.
00:42TUI, Europe's largest travel company, dropped 9.9%, while Lufthansa declined 5.2%,
00:49and International Airlines Group lost 5.5%. Oil supply risks tied to reduced tanker traffic
00:56through the Strait of Horma's raised fuel cost concerns. Jeffrey said a 5% rise in fuel costs
01:01could cut Delta and United's 2026 earnings by 5% to 10% and reduce American Airlines' profit
01:08by about 35%. For all things money, visit Benzinga.com.
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