Worries about developments in Iran rattled financial markets Monday, after the U.S. and Israel launched a joint attack over the weekend. The major U.S. equities indexes lost ground, with travel-related stocks leading losses, while defense and oil industry stocks gained.
Airline stocks drop as the Iran conflict sparks worries about rising fuel costs.
Airline and some hotel stocks fell in premarket trading Monday after airspace closures throughout the Middle East. Affected airports included Dubai, one of the biggest hubs in the world by passengers, and a home base for airline Emirates.
Stocks slumped as the conflict in the Middle East crippled travel through some of the world's most crowded transit arteries.
American Airlines (AAL) concluded the recent trading session at $13.07, signifying a -6.24% move from its prior day's close.
The Federal Aviation Administration is looking to cut flights this summer at Chicago's O'Hare International Airport, where the two airlines are currently duking it out for supremacy.
American Airlines rides improving air-travel demand and new routes for summer 2026, but rising labor costs and a $25.2 B debt load weigh on results.
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Anglo American PLC (LSE:AAL) shares moved on the front foot, after the miner reported a small rise in 2025 underlying EBITDA from continuing operations to $6.4bn and said it delivered $1.8bn of run-rate cost savings, as stronger copper and premium iron ore performance outweighed a sharp deterioration at De Beers. It comes as the mining group continues to position for its proposed merger with Canada's Teck Resources.
Flight attendants at PSA, a regional airline owned by American Airlines, have reached a tentative contract agreement with the Charlotte-based carrier.
Teck Resources Ltd (TSX:TECK.B) reported stronger fourth quarter results for 2025, highlighted by an earnings beat, solid cash generation and continued progress on its proposed merger with Anglo American PLC (LSE:AAL). The Vancouver-based miner posted adjusted earnings of C$1.37 per share for the quarter, ahead of consensus estimates.
Embattled American Airlines CEO Robert Isom, recently under attack from the carrier's unions for weak performance during his four-year run at the carrier's helm, has won the support of a prestigious Yale University professor.