Middle East Conflict Causes Nearly 20 Global Airlines to Incur Losses of Almost Rp900 Trillion

Moscow (ANTARA) - Tensions in the Persian Gulf region, triggered by US-Israel attacks on Iran, have caused losses of up to $53 billion (equivalent to nearly Rp900 trillion) for the 20 largest publicly traded airlines worldwide, according to Financial Times calculations.

The newspaper reported that airline managements continue to warn of the impacts they may face from rising oil prices, disruptions at airports in the Gulf region, and a plunge in global demand.

Financial Times also stated that in the coming months, passengers planning departures on routes not even related to the Middle East may face drastic increases in flight ticket prices.

This occurs as airlines attempt to maintain their revenues, according to Financial Times.

On 28 February, the US and Israel launched a joint attack on Iran, including Tehran, resulting in damage to infrastructure and loss of life.

Iran then carried out retaliatory strikes on Israeli territory and US military bases across the Middle East.

The US and Israel initially claimed the attack was necessary to counter threats from Iran’s nuclear programme, but it later became clear that they actually sought a change of power in Iran.