Airline stocks faced a downward trend on Monday as several carriers suspended flights to and from Israel's Ben Gurion Airport due to attacks from the Gaza Strip. With the terror group Hamas directly threatening the airport, major players such as Delta Air Lines (DAL), American Airlines (AAL), and United Airlines (UAL) canceled their services to Tel Aviv over the weekend, as reported by The Wall Street Journal.
This tense situation has had a significant impact on the stock market, particularly for Delta, whose stock value fell by 2.4% during premarket trading on Monday. American Airlines and United also experienced declines of 2.1% and 2% respectively. European airline stocks were similarly affected, with Air France-KLM's shares dropping by 3.6% and Deutsche Lufthansa sliding by 2.9%.
In conclusion, the recent halt in flights to Israel has placed substantial pressure on airline stocks globally. It remains to be seen how long this situation will persist and what further developments may arise in relation to the ongoing conflict.
Our Latest News
Maine and Colorado have partnered to enhance retirement savings for Maine workers through a state-managed program, inspiring other small states to follow suit.
The United Steelworkers (USW) support a bid from Cleveland-Cliffs to acquire U.S. Steel, creating a new dynamic in this ongoing saga. The involvement of USW and...
President Biden expresses support for United Auto Workers' strike against Big Three automakers, highlighting the need for fair contracts and equitable distribut...