Asian Airline Stocks Plunge Amid Middle‑East Hub Closures and Oil Spike
Asian airline shares tumbled on Monday, shaken by the shutdown of strategic hubs in the Middle East and a surge in oil prices to nearly $86 per barrel following U.S. and Israeli strikes in Iran.
- Qantas Airways (Australia) – The national carrier fell 10.4 % at the open, later limiting the decline to about 6 %.
- Singapore Airlines and Japan Airlines – Both slid more than 5 %.
- Other Asian carriers – ANA Holdings (Japan), Air China, China Southern Airlines, China Eastern Airlines, AirAsia X (Malaysia) and China Airlines each lost at least 4 % of their market value.
Flight Cancellations
- According to data provider VariFlight, 26.5 % of flights linking mainland China to the Middle East were cancelled between 2 – 8 March.
- In Sydney, Qatar Airways passengers saw their flights cancelled without explanation and were forced to reroute via Los Angeles or Melbourne, with some tickets costing over $4,700.
- Virgin Australia cancelled eight flights on Monday and is offering free reservation changes to affected customers.
The combined impact of geopolitical tension and rising fuel costs is putting pressure on the region’s aviation sector, prompting both investors and travelers to brace for further volatility.
