NYT: Major airline stocks plunge amid Iran crisis

Shares of leading US and Asian airlines fell sharply on Monday, 2 March, according to The New York Times.

The decline comes amid escalating conflict in the Middle East, which has led to airport closures and flight cancellations. Stocks of American Airlines, United Airlines, and Delta Air Lines dropped more than 6%, while Alaska Air Group shares fell around 5%. American Airlines and United Airlines have already suspended some flights, and Delta extended cancellations to Tel Aviv until 31 March.

A similar trend is seen in Asia. Shares of Singapore Airlines fell more than 4%, with comparable declines for Japan’s ANA Holdings and Japan Airlines, as well as Hong Kong’s Cathay Pacific.