Iran Israel war ceasefire boosts airlines stocks as share prices rise big. Check full list here
Iran Israel ceasefire
on Tuesday cheered stocks of the US and European airlines as share prices witnessed massive uptick. The jump is based on expectations that a ceasefire between Israel and Iran would hold. Airlines worldwide cancelled flights to several Middle Eastern destinations, including major international hubs such as Dubai and Doha, as several countries closed their airspace after Iran attacked the Al Udeid U.S. military base in Qatar on Monday. Qatar and the United Arab Emirates have since reopened their airspace.
Airlines Share Prices
Air France KLM, British Airways owner, Lufthansa were up between 6 per cent and 10 per cent, while Wizz Air gained 3.2 per cent. The US legacy carriers United Airlines, Delta Air Lines and American Airlines were up about 4 per cent each in morning trade, Reuters reported.
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"There had been a relief wave pulsing through the travel sector, amid hopes that grounded flights could take to the skies again, but pessimism has crept back in," said Susannah Streeter, head of money and markets at Hargreaves Lansdown.
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"Travel stocks moved higher, both on the implications for fuel costs and as the potential hit to foreign travel appetite that might have resulted from any further escalation of Middle East tensions seems to have been swerved," said AJ Bell investment director Russ Mould.
US President Trump said on Tuesday Israel had called off its attack in response to his command to preserve an hours-old ceasefire. However, Iranian and Israeli media reported new Israeli air strikes on Iran minutes after Trump made these comments before heading off to The Hague for a NATO summit.
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Q1. Who is President of USA?
A1. President of USA is Donald Trump.
Q2. How shares of airlines are performing?
A2. Air France KLM, British Airways owner, Lufthansa were up between 6 per cent and 10 per cent, while Wizz Air gained 3.2 per cent. The US legacy carriers United Airlines, Delta Air Lines and American Airlines were up about 4 per cent each in morning trade, Reuters reported.
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