Airline shares selloff eases as some flights leave Gulf amid Iran conflict [BNN Bloomberg (Canada)]
QANTAS AIR LTD S/ADR NEW (QABSY)
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Source: BNN Bloomberg
The airspace over most of the Middle East remained largely empty on Wednesday, with major Gulf hubs, including Dubai, the world's busiest international airport, remained shut for a fifth day, in the biggest travel crisis since the COVID-19 pandemic. The first repatriation flights were due to leave for Britain and France on Wednesday and the United Arab Emirates opened special corridors to allow some citizens to return home. This contrasts with the thousands of flights that take off in the region normally. Marooned tourists and some expatriates have also tried to find their own way out. Airline shares were less volatile on Wednesday after double-digit percentage drops in the past few days, wiping tens of billions of dollars from airlines' market value. Lufthansa was up 1.7 per cent at 1013 GMT, while Qantas was 2.7 per cent lower. Both have lost more than 10 per cent of their value this week so far, their worst week in almost a year. BA-owner ICAG was up two per cent, having
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