Travel stocks tumble as US-Iran conflict sparks worst disruption since pandemic

Travel shares tumbled on Monday, shedding $22.6 billion as escalating conflict between the U.S., Israel and Iran disrupted flights worldwide, closed key Middle Eastern hubs and sent oil prices surging, with analysts warning of weeks of disruption. The U.N.’s International Civil Aviation Organization told countries they “have ​the responsibility to ensure the safety and security of air transport operations, facilities and passengers”. Major Gulf hubs, including the world’s busiest international airport Dubai, which usually handles over 1,000 flights a day, remained closed for ‌a third day. That has left tens of thousands of passengers stranded as aviation faced its biggest test since the COVID-19 pandemic.