HONG KONG 每 Surging oil prices and the escalating U.S.-Israeli war with Iran hammered airline stocks in Asia on Monday, piling pressure on carriers already navigating tight airspace as travelers scramble to evade the Middle East conflict.
The war has driven up fuel prices, with oil jumping 20% in early trading on Monday, hitting its highest since July 2022, amid fears of tighter supply and prolonged disruptions to shipments.
Stranded passengers have been paying huge sums of money to escape the Middle East, with last-minute dashes to the airport, overland trips to less impacted hubs and fighter jets at times escorting passenger planes out.
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