The situation around Iran has collapsed air transportation

Global airlines have faced the most severe crisis since the COVID-19 pandemic due to the conflict in the Middle East.

As reported by BAKU.WS, this is according to the Financial Times newspaper.

According to its calculations, since the beginning of the US and Israeli military operation against Iran, the market capitalization of the 20 largest international airlines whose shares are traded on stock exchanges has decreased by 53 billion dollars.

Meanwhile, investors expect further declines in share prices. As noted in the article, on the London Stock Exchange the most active sell-offs have been observed in shares of Wizz Air and EasyJet.

Earlier, the newspaper reported that amid the conflict, airlines are developing contingency plans, fearing disruptions in aviation fuel supplies. Fuel accounts for about one-third of airline expenses, and since the strikes on Iran began, its price has doubled over three weeks and continues to rise.