Airline stocks slump as carriers in US and abroad cancel flights to Tel Aviv

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Stocks of America’s three major airlines got slammed as they cancelled all flights to Israel as the nation’s conflict in Gaza escalated after Hamas terrorists rained rockets on Israeli towns this weekend.

Shares of Delta Air Lines, United and American Airlines each fell over 5% in early trading hours on Monday.

In all, airlines cancelled 44% of scheduled flights to Tel Aviv on Sunday, according to Bloomberg, based on data from Flighttrader24.com. Meanwhile, the Federal Aviation Administration last issued a statement on Saturday that urges US airlines and pilots “to use caution when flying in Israeli airspace.”

“The situation in Israel remains dynamic; mortar and rocket fire may take place without warning. Individuals should follow the instructions of security and emergency response officials,” the federal agency warned in a Monday update.

 

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