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08.04.26 - 15:45
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Airline Stocks Soar On Iran Ceasefire As IATA Sees "Positive" Tailwinds, But Warns Jet Fuel Crisis Will Persist (ZeroHedge)
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Airline Stocks Soar On Iran Ceasefire As IATA Sees "Positive" Tailwinds, But Warns Jet Fuel Crisis Will Persist
Airline stocks are flying high in premarket trading in New York after the overnight ceasefire between the Trump administration and Tehran. The truce is a positive for the aviation industry, which has been locked in turbulence for six weeks, as surging jet fuel prices have crushed the margins of major carriers, forcing ticket and baggage price hikes and triggering travel chaos across the Gulf region.
"Even two weeks is a positive because we will see some flow of oil return," Willie Walsh, director general of the International Air Transport Association, told Bloomberg Television in an interview.
Walsh pointed out that even with a ceasefire underway, jet fuel prices "will remain elevated for some time."
"If crude has come down 16%, you like to think jet will come down by a similar figure, but it's still going to be a high price. That will mean higher ...
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