Airlines Concerned About Potential Duration of Flight Suspensions in the Middle East
The airline industry is among the most affected on financial markets since the outbreak of hostilities between Tehran and Tel Aviv. The conflict, which has already cut off major air routes, has entered a new phase after the United States attacked Iran's main nuclear sites on Sunday morning.
The usually busy airspace, stretching from Iran and Iraq to the Mediterranean, has remained largely empty of commercial air traffic since June 13. Airlines have been forced to divert, cancel, and delay flights in the region due to security concerns.
With Russian and Ukrainian airspace also closed to most airlines due to years of war, the Middle East has become a more important route for flights between Europe and Asia. Due to the missiles and airstrikes of the past ten days, airlines have been rerouting north via the Caspian Sea or south via Egypt and Saudi Arabia.
In addition to the increase in fuel and crew costs due to these long detours and cancellations, carriers must also face a potential hike in kerosene costs due to the surge in oil prices following the American attacks.
The proliferation of conflict zones represents an increasingly heavy operational burden for airlines, as the exchange of missiles raises fears of accidental or deliberate shoot-downs of commercial aircraft.
