Cathay Pacific drops most in 7 months on US-Iran conflict, Chinese airlines fall

Shares of Hong Kong flagship carrier Cathay Pacific Airways 0293.HK drop as much as 7% to HK$13.07, on course for the biggest one-day pct fall since August 6

Stock hit the lowest level since February 24, on course to snap five straight sessions of gain

Cathay Group, parent of Cathay Pacific Airways, said on Saturday it had suspended all of its operations in the Middle East, citing tensions in the region after Israel and the United States launched strikes on Iran

Global air travel remained in turmoil on Monday as war in Iran forced the closure of key Middle Eastern hubs including Dubai and Doha for a third day, stranding tens of thousands of passengers worldwide and disrupting thousands of flights

Hong Kong-listed shares of Chinese airlines plunge with China Eastern Airlines 0670.HK down as much as 11.4% to HK$4.92, lowest point since December 18

Hong Kong shares of Air China 0753.HK fall 8.1% to HK$6.24, the lowest level since December 15; China Southern Airlines 1055.HK down 9.2% to HK$5.34, lowest since December 17

Benchmark Hang Seng Index .HSI declines 2.2%