Asian airline stocks climbed Tuesday as oil prices retreated after President Trump said an escalation of the Iran war was not necessary. Investors saw the lower crude prices as a potential relief for jet-fuel costs, lifting carriers across South Korea, China, Hong Kong and Singapore.
By Money Talk·November 10, 2026·2 min read·984 reads
South Korea led the gains in early trading. Korean Air Lines rose as much as 13%, while its budget-airline affiliate Jin Air jumped 28%. Low-cost carriers Jeju Air and Air Busan advanced 9.8% and 23%, respectively.
In Hong Kong, China Southern Airlines gained 8.8%, putting it on course for its biggest one-day rise in nearly two years. China Eastern was up 8.5% and Air China rose 6.4%. Cathay Pacific added 3.2%, while Singapore Airlines gained 2.2%.
The rally followed Trump’s closed-door meeting Monday at the White House with Qatar’s prime minister. Qatar has played a key mediating role in the Iran war. After the meeting, Trump wrote on Truth Social: “We are seeing positive momentum toward an end to this Conflict.” At a White House press briefing, he said an escalation of the military campaign against Tehran was unnecessary and that Israel and U.S. allies in the Gulf were well protected. Trump had temporarily held off on launching major new attacks on Iran ahead of the U.S. midterm elections.
Oil prices fell in Asian trading Tuesday. Front-month West Texas Intermediate futures were down 1.4% at $85.66 a barrel, while Brent crude futures slipped 1.2% to $91.49 a barrel.
Dohyun Ahn, an analyst at Seoul-based Hana Securities, remained upbeat on airlines, particularly Korean carriers, over the coming year. In a research note, she said three factors could converge in 2027: peaking oil prices, cost savings from a stronger Korean won and a recovery in outbound travel demand.
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