Airline stocks are experiencing a significant boost as expectations rise for falling international oil prices following a peace agreement between the United States and Iran.
According to the Korea Exchange, as of 9:58 AM, T'way Holdings saw its shares increase by 83 won (29.75%) to 362 won, hitting the upper limit for the day.
At the same time, Trinity Air rose by 19.39%, Jeju Air by 23.27%, Air Busan by 14.75%, Jin Air by 16.33%, Asiana Airlines by 12.16%, and Korean Air by 12.86%, indicating a strong buying trend across the airline sector.
This surge is attributed to the recent agreement between the U.S. and Iran, which has led to a sharp decline in international oil prices. The airline industry, which has a high fuel cost component, is hopeful that lower oil prices will improve profitability.
On June 14, U.S. President Donald Trump announced via social media that a deal with Iran had been finalized and approved the resumption of navigation through the Strait of Hormuz.
Iran also confirmed that the terms of the peace negotiations with the U.S. had been finalized, signaling progress in the peace talks.
In response, international oil prices dropped sharply. West Texas Intermediate (WTI) crude for July delivery traded at around $80 per barrel, down more than 4% from the previous day, while Brent crude also saw a decline of over 3%.
* This article has been translated by AI.
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