Global travel stocks fell sharply as the US Iran war triggered widespread flight disruptions and sent energy prices higher. Travel shares have lost about $22.6 billion in value as airspace closures and security risks spread across key routes.
More than 4,000 flights have been canceled worldwide over the past three days, with analysts warning disruptions could last for weeks.
The International Civil Aviation Organization urged countries to ensure the safety of air transport operations and passengers.
Travel shares fell sharply as escalating conflict between the US, Israel and Iran disrupted flights around the globe, forcing the closure of key Middle Eastern hubs and sending oil prices surging. READ MORE: https://t.co/KznN5OvP9P pic.twitter.com/a2WSRcy5u0
— Reuters Business (@ReutersBiz) March 2, 2026
Major hubs including Dubai and Doha remained closed for a third day, stranding tens of thousands of travelers. The aviation shock is the most severe since the COVID pandemic.
Oil prices jumped as much as 13 percent, raising fuel cost pressures for airlines already facing operational strain.
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