Travel Chaos Worsens as Iran Conflict Shuts Mideast Airports [Yahoo! Finance Canada]
CATHAY PAC AIRWAYS S/ADR (CPCAY)
NASDAQ:AMEX Investor Relations:
cathaypacific.com/cx/en_us/about-us/investor-relations/financial-briefings.html
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The disruptions rippled across Asia, with Cathay Pacific Airways Ltd. canceling some services to the Middle East through March 5. In India, IndiGo's flight suspensions extended through Tuesday. In Europe, shares of the major airlines slumped amid concern that the conflict will deter travel just as the industry heads into the crucial summer period. Deutsche Lufthansa AG dropped as much as 11%, British-Airways parent IAG SA fell as much as 13% and Air France-KLM declined 10% in early European trading. The conflict is also causing the price of oil to spike, in turn increasing the cost of fuel for airlines, their single-biggest expense/ And the closed airspace means that many aircraft will need to take longer flight paths, again driving up their operating costs. US President Donald Trump said the bombing campaign against Iran would continue until its objectives were achieved, sending airline stocks plunging as investors digested the impact of axed flights
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