New Delhi, March 2: The ongoing conflict between Israel and Iran has led to the closure of airspace in several Gulf countries for the third consecutive day, resulting in a decline in airline-related stocks on Monday.
Most airlines operating in the Asia-Pacific region have reported a drop in their stock prices. InterGlobe Aviation Limited (IndiGo) saw a decline of over 4 percent in its shares. Similarly, Singapore Airlines’ stock fell by more than 6 percent, while Japan’s ANA and JAL experienced a drop of over 4 percent. Australia’s Qantas also saw its shares decline by more than 4 percent.
Due to the conflict, major transit hubs including Dubai, Doha, and Abu Dhabi have been closed for nearly three days, forcing airlines to suspend, reroute, or cancel flights to destinations such as Tel Aviv, Dubai, Beirut, Tehran, Riyadh, and other regional locations.
Indian airlines have also been affected, with IndiGo canceling the most flights among non-Western Asian carriers. Reports indicate that on February 28, 410 flights were canceled at New Delhi airport, approximately 350 flights on March 1, and at least 300 flights were expected to be impacted on March 2.
The Directorate General of Civil Aviation (DGCA) has previously stated that it is coordinating with airlines and related agencies and has activated a passenger assistance control room to help stranded travelers.
Air India has extended the suspension of all flights to and from the United Arab Emirates, Saudi Arabia, Israel, and Qatar until 11:59 PM on March 2. Due to the closure of Iranian and Iraqi airspace, Air India has indicated that it is rerouting flights through Oman, southern Saudi Arabia, and Egypt, resulting in an additional 30-40 minutes of travel time and increased operational costs.
Airlines that have announced flight suspensions or route changes include Air France, KLM, British Airways, Cathay Pacific, Singapore Airlines, Turkish Airlines, Lufthansa, ITA Airways, Malaysia Airlines, Japan Airlines, Aegean, LOT Polish, and Norwegian Air.
Disclaimer: This news is sourced directly from the agency, and our team has made no edits.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
