Asian Airline Stocks Plunge on Middle East Conflict

Airline stocks across Asia and India plunged on Monday amid escalating conflict in the Middle East, where U.S. and Israeli strikes on Iran over the weekend prompted airspace closures and widespread flight cancellations. The violence, including Iran's retaliation with missile fire into neighboring countries such as the United Arab Emirates, disrupted key aviation hubs and stranded thousands of passengers worldwide.

In India, shares of major carriers and travel firms fell sharply during morning trading on the Bombay Stock Exchange. InterGlobe Aviation, parent of IndiGo, dropped 7.50 percent, while SpiceJet declined 7.27 percent. Online travel platforms were hit harder, with Yatra Online tumbling 11.14 percent, Easy Trip Planners slumping 9.39 percent, TBO TEK diving 8.19 percent, and Thomas Cook falling 5.40 percent. The broader market reflected the unease, as the 30-share BSE Sensex traded 1,027.60 points lower at 80,284.17 and the 50-share NSE Nifty shed 305.95 points to 24,864.35.

The disruptions stemmed directly from the conflict's fallout. Multiple airspace restrictions in the region forced airlines to cancel hundreds of flights, particularly those routing through Gulf hubs...