Air Canada Drops in Broad Airline Selloff Triggered by Middle East Conflict, Surging Oil

Dow Jones03-02

By Adriano Marchese

Air Canada's shares were lower Monday morning as the airline sector broadly sold off, with investors reacting to a sharp jump in oil prices and escalating conflict in the Middle East.

Shares traded 5.3% lower at 19.53 Canadian dollars ($14.31).

Air Canada has issued a notice on its website for travelers, warning of a military situation in the Middle East affecting travel to and from the region, and suspending flights to Dubai, United Arab Emirates and Tel Aviv, Israel.

The expanding conflict between the U.S., Israel and Iran has triggered widespread airspace closures and introduced new uncertainty into global travel patterns, pressuring carriers and travel companies already sensitive to spikes in fuel cost.

Prices of oil have surged by 7.6% to $72.10 a barrel.

Other airlines are following suit. Delta has canceled flights to Tel Aviv through March 31, while United Airlines and American Airlines have suspended services to the region as airlines navigate closed airspace, rerouting challenges and heightened security risks.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

March 02, 2026 09:53 ET (14:53 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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