Global airlines stock value drops in October: IATA

Global airlines stock value drops in October: IATA

Global airlines stock value drops in October: IATA

Global airlines stock value drops in October: IATA— Photo: file

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CAIRO: The global airlines’ share price witnessed a decline of 7.2 per cent in October, compared with September, as concerns about rising jet fuel prices increase, the International Air Transport Association (IATA) reported in its latest Airlines Financial Monitor.

Jet fuel prices increased 70 per cent in early November, compared with the start of the year, amid the recovery of economic activities worldwide.

Despite the cost pressure, the third-quarter financial results showed a decline in financial losses, compared with the second quarter, due to higher passenger traffic, as the Covid-19 restrictions are easing.

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