Turmoil in the Skies: Qantas Shares Plummet Amid Middle East Conflict

Qantas Airways saw its shares nosedive by over 10% to their lowest point in ten months after military actions by the U.S. and Israel on Iran caused a surge in oil prices. The geopolitical tensions sent shockwaves across the aviation sector.

On Monday, Qantas shares dropped to A$8.92, marking their lowest point since May 2025, only recovering to a 5.8% decline by the end of trading. Turmoil in international air travel continued over the weekend, as Iran's conflict led to the closure of key Middle Eastern airports in Dubai and Doha, impacting tens of thousands of passengers.

As a ripple effect, Virgin Australia witnessed its shares briefly dip by 3.5% to A$3.03. Meanwhile, Air New Zealand shares dropped to NZ$0.553, marking a significant low before stabilizing. Despite these fluctuations, the airlines are bracing for continued instability in the air travel sector.