economy
March 2, 2026
Travel stocks fall after thousands of flights grounded following Iran strikes
Airlines and some hotel stocks fell after the U.S.-Israeli attacks on Iran and subsequent retaliation strikes.
TL;DR
- Airline and travel stocks fell due to Middle East airspace closures and flight cancellations.
- Cruise line stocks, including Royal Caribbean and Carnival, also dropped sharply.
- Norwegian Cruise Line Holdings' stock fell 10% after its earnings call.
- Oil prices rose, potentially increasing airlines' operating costs.
- Thousands of Middle East flights were canceled, affecting routes globally.
- International air travel demand had been a strong performer prior to these disruptions.
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