Airline stocks rocked as Israel-Hamas war fuels profit concerns

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Indonesia Berita Berita

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Wall Street worries that airlines face the worst-case scenario of a prolonged Israel-Hamas war

Airline stocks were rocked Wednesday, as United Airlines Holdings Inc.’s profit warning due to the negative impact of the Israel-Hamas war cast a pall on investor sentiment.

The Dow Jones Transportation Average DJT, of which six of its 20 components are airline stocks, slid 388 points, or 2.6%. United’s stock UAL, -8.11% sank 8% after the air carrier beat third-quarter profit expectations but provided a downbeat fourth-quarter outlook, citing flight suspensions to Tel Aviv. The longer that the Israel-Hamas war lasts, the lower the expected profit.

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