Asian airline shares fall as US-Iran conflict disrupts travel, raises oil prices

Two Qantas Airways Airbus A330 aircraft can be seen on the tarmac near the domestic terminal at Sydney Airport in Australia. REUTERS/David Gray

SYDNEY: Shares in Australia's Qantas Airways, Singapore Airlines and Japan Airlines were down more than 5% on Monday after the U.S. and Israel launched large-scale strikes on Iran over the weekend, disrupting travel and sending oil prices surging.

Global air travel remained in turmoil on Monday as war in Iran forced the closure of key Middle Eastern hubs including Dubai and Doha for a third day, stranding tens of thousands of passengers worldwide and disrupting thousands of flights.