The U.S.-Iran war, which started on Feb. 28, hit airline stocks hard. Jet fuel costs surged 81% from the start of the conflict and were up 124% for the year by mid-March, putting real pressure on airlines to raise fares, change routes, and prepare for weaker demand.
The U.S. Global Jets ETF (JETS), which tracks the sector, fell from about $31.33 to a low of $23.81 during that stretch. With oil climbing toward $100 a barrel, investors pulled back fast, and Deutsche Bank warned that without quick relief, airlines around the world might have to ground thousands of planes.
