Air travel faces major disruptions due to escalating tensions in Middle East
Date
10/3/2024 4:11:45 AM
(MENAFN) Air travel has been severely disrupted due to rising tensions in the Middle East, with airlines diverting and cancelling flights on Wednesday. FlightRadar24 data revealed significant delays at airports across the region, including Lebanon, Israel, and Kuwait. The escalating conflict has caused concerns over potential disruptions, leading to a drop in airline and travel stocks. Europe's largest travel company, TUI, saw a decline of over 5 percent, while Lufthansa's stock fell by 4.4 percent, according to a report by a UK news agency.
The conflict has echoed past disruptions, such as the Ukraine war and last year’s Israel-Gaza conflict, which initially caused a drop in demand for travel across Europe. Andrew Lobbenberg, a Barclays analyst, noted that although demand typically decreases, it often stabilizes after a few weeks. On Wednesday, flights from airlines like Flydubai and Wizz Air were still visible in Iranian airspace, following Iran’s announcement that its attack on Israel had ended.
Despite this, numerous flights across the region have been cancelled or rerouted due to the lack of stability. Polish airline LOT confirmed that aircraft, especially those traveling to India, were avoiding Iranian airspace. The European Aviation Safety Agency issued a notice advising airlines to avoid flying over Iran at all altitudes, fearing that Israel may retaliate against Iran.
Airlines including British Airways and Air France-KLM have cancelled flights to Israel and Lebanon as the conflict worsens. Many carriers have stated that services will not resume until at least mid-October, depending on the security situation. This includes the period around the first anniversary of Hamas's October 7 attack on Israel.
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