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Airline Stocks Plunge as Israel-Iran Conflict Disrupts Global Flights for 3rd Day

Global and Indian airlines have cancelled and diverted hundreds of flights for a third straight day due to airspace closures across West Asia triggered by the escalating Israel-Iran conflict. Airline stocks in the Asia-Pacific region, including IndiGo and Singapore Airlines, fell sharply in early trading. Major transit hubs like Dubai and Doha were shut, forcing widespread suspensions and reroutings, with Indian carriers like Air India extending flight suspensions to several countries. The conflict has lengthened flight paths and increased operating costs, while aviation authorities have activated assistance for stranded passengers.

Key Points: Israel-Iran War Disrupts Flights, Airline Stocks Fall

  • APAC airline stocks post losses
  • Indian carriers see high cancellations
  • Key Gulf airspaces closed
  • Routes lengthened, raising costs
2 min read

Israel-Iran war: Airline stocks in red as flight disruption continues for 3rd day

Global airline stocks tumble as airspace closures in West Asia force hundreds of flight cancellations and reroutings for a third consecutive day.

"Major transit centres, including Dubai, Doha and Abu Dhabi, were shut for extended periods - Report"

New Delhi, March 2

Global and Indian airlines cancelled and diverted hundreds of flights for a third straight day on Monday after the escalating US-Israel and Iran war prompted widespread airspace closures across West Asia and the Gulf.

Airlines in the Asia Pacific (APAC) region posted losses in early trading sessions. Interglobe Aviation Ltd, that operates IndiGo, dipped 4.24 per cent.

Singapore Airlines tanked over 6 per cent in early trading on Monday, while Japan's ANA and JAL each dropped over 4 per cent, while Australia's Qantas slipped over 4 per cent.

Major transit centres, including Dubai, Doha and Abu Dhabi, were shut for extended periods, forcing carriers to suspend, reroute or cancel routes to Tel Aviv, Dubai, Beirut, Tehran, Riyadh and other regional destinations.

Indian carriers were also hit as IndiGo recorded the highest number of cancellations among non‑West Asian carriers. At New Delhi airport, 410 flights operated by Indian carriers were cancelled on February 28, about 350 flights on March 1, and at least 300 flights were expected to be impacted on March 2, according to reports.

The Directorate General of Civil Aviation (DGCA) earlier informed it was coordinating with airlines and related agencies and had activated a Passenger Assistance Control Room to assist stranded travellers.

Air India extended the suspension of all flights to and from the UAE, Saudi Arabia, Israel and Qatar until 11.59 pm on March 2. With Iranian and Iraqi airspace closed, Air India said it was using routes via Oman, southern Saudi Arabia and Egypt, adding about 30-40 minutes of journey to Europe‑bound flights, raising operating costs.

Carriers that announced suspensions or reroutings, include Air France, KLM, British Airways, Cathay Pacific, Singapore Airlines, Turkish Airlines, Lufthansa, ITA Airways, Malaysia Airlines, Japan Airlines, Aegean, LOT Polish and Norwegian Air, among others.

Israeli strikes on Tehran on Monday targeting command centres and air defences were met with retaliatory missile attacks on Israeli territory and US bases in the Gulf, further heightening uncertainty.

- IANS

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Reader Comments

R
Rohit P
IndiGo stock down 4%... not surprising given the scale of cancellations. This conflict is hitting our aviation sector hard when it was just recovering. The extra fuel cost for rerouting will hurt Air India's bottom line too. Geopolitics directly impacts our wallets.
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David E
While passenger inconvenience is real, the primary concern must be safety. Closing those airspaces was the right call. No flight is worth the risk. Hoping for a swift diplomatic resolution.
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Ananya R
It's a domino effect. Gulf hubs like Dubai and Doha are crucial transit points for Indians flying west. When they shut, everything halts. This shows how interconnected global aviation is. Feel terrible for the crew and ground staff dealing with angry passengers.
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Siddharth J
A respectful criticism: The article focuses on airline stocks and operations, which is important, but what about the thousands of stranded Indian passengers? More focus on the human cost—students trying to return, migrant workers, families separated—would be valuable.
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Kavya N
My father's flight to Europe via Doha was cancelled. The airline offered a voucher, not a refund! In such force majeure situations, the government should mandate full refunds. Yaar, planning international travel from India is already so expensive and complicated. 😓

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