A $53 billion drop in airline value following the Iran war
The Financial Times reported that as the war in the Middle East continues, the value of the world’s 20 largest airlines has sharply decreased, and the aviation industry is facing an unprecedented crisis.
The Financial Times has reported that since the start of the U.S. and Israel war with Iran in late February, the total value of the world’s 20 largest airlines has decreased by about $53 billion.
According to this report, the aviation industry is now facing a serious crisis described as unprecedented since the COVID-19 pandemic. This crisis has arisen due to disruptions in the operations of major airports in the Gulf region and widespread flight cancellations.
The report also mentions the concerns of airline executives about the potential shortage of fuel, an issue that has intensified as the war enters its fourth week.
The Financial Times writes that the price of jet fuel, which accounts for about one-third of airlines’ operating costs, has nearly doubled since the start of the war, and this trend could lead to an increase in airplane ticket prices.