00:00Airline stocks extended losses on Tuesday as the U.S. and Israeli air war against Iran
00:07escalated, with carriers monitoring spiking fuel prices and canceling flights.
00:13Shares of Delta, United, American and JetBlue fell between 4.5 and 7 percent, with airlines
00:20across Asia and Europe also sliding.
00:23Tens of thousands of passengers were stranded in the Middle East and beyond, including at
00:29major hubs like Dubai, the world's busiest international airport.
00:34That's cost the airlines hundreds of millions of dollars in tourism and cargo revenue, said
00:40Paul Charles, CEO of the PC Agency, a luxury travel consultancy.
00:45It's pretty well the biggest shutdown we've seen, certainly since the COVID pandemic.
00:52The growth of the Middle East has been phenomenal in the last few years, with people wanting
00:58to holiday there or move there or do business there.
01:02And we've seen the enormous growth, of course, of the main hubs like Dubai, Doha and Abu Dhabi.
01:08So when they are shut down, it has a significant impact not only on holidaymakers and business
01:16travellers, but also on cargo.
01:18And that has a major impact on the supply chain overall.
01:22Jamie Brown was among the first tourists from the U.K. able to leave Dubai after catching
01:28an early morning flight that landed in London's Heathrow Airport on Tuesday.
01:32It's been a tumultuous, traumatic time.
01:35And when you've got young children like this, it's just, you know, you're hearing explosions
01:39go off above you.
01:41It's no way to live.
01:43And I feel really sorry for the people that are still out there.
01:45We're very lucky to be back home.
01:47Aviation data firm Sirium said over 19,000 flights to the Middle East have been canceled
01:52since Saturday, while tourism economics said the conflict could lead to a $34 billion to $56
01:59drop in visitors spending in the region this year.
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