US airlines fall as Middle East tensions escalate
** Shares of U.S. airlines fall as tensions rise in the Middle East
** Alaska Air ALK.N and Delta Air Lines DAL.N fell between ~2% and ~3%, while American Airlines AAL.O and United Airlines UAL.O were down ~1%
** Iran launched its largest missile attack against Israel on Tuesday in retaliation for Israel's campaign against Iran-backed Hezbollah in Lebanon, prompting a threat from Israel of a "painful response"
** Oil prices climbed more than 3% on Wednesday as Israel and the United States vowed retribution over Iran's biggest ever direct attack on its regional adversary
** Carriers around the world have cancelled flights to Israel and Lebanon in the wake of the escalating conflict
** Up to Tuesday's close, Delta was up ~24% YTD, Alaska up ~15%, United Airlines up ~36%, while American Airlines was down ~20%
Reporting by Utkarsh Shetti in Bengaluru
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