European Airport Stocks Fall as U.S.-Iran War Bites on Passenger Numbers

By Joe Stonor

European airport stocks fell sharply after three of the main operators flagged hits to performance resulting from the conflict in the Middle East.

Shares in Aeroports de Paris were down 6.5% to 101.4 euros in early afternoon European trading, while Madrid-listed Aena--which owns major airports across Spain--fell 4%.

Frankfurt airport owner Fraport slipped 4.1% and Swiss group Flughafen Zurich shares were down 3.6%.

European airports are facing uncertainty resulting from the U.S.-Iran war, as higher jet-fuel prices push airlines to cut back on flight schedules and passengers are more cautious about booking holidays or flights.

Heathrow Airport--the busiest airport in Europe--said Wednesday that passenger numbers would likely fall this year.

"We have seen some impact from recent Middle East disruption and are closely monitoring development," operators of the airport said.

Heathrow is privately owned by the Qatar Investment Authority, China Investment Corp., and others.

Aena, which also owns London Luton airport, said traffic in the Middle East fell 13% over the first quarter.

Meanwhile, Aeroports de Paris said "a sudden and rapid deterioration in the geopolitical and economic environment" was responsible for a fall in revenue in the first quarter.

Despite reaffirming its forecasts for 2026, the group said the full effect of the war on air traffic and fuel prices remained unclear.

In 2025, 5% of traffic through its Paris airports was to or from the Middle East, the group said. The Paris-listed company counts Jordan's Queen Alia International Airport among its portfolio.

Total traffic through the group's airports will likely be lower than previously expected in 2026, Jefferies analysts said in a note to clients.

Holiday company Jet2 said Wednesday that it has had more passengers booking closer to the departure date since the start of the Middle East conflict, which began on Feb. 28. Still, it said summer bookings are currently 7.7% higher than summer 2025, while booked-to-date passengers are up 6.2%

On April 22, German travel operator TUI cut its guidance and said the conflict was driving consumer caution, limiting near-term visibility.

Write to Joe Stonor at josephmichael.stonor@wsj.com

(END) Dow Jones Newswires

April 29, 2026 08:51 ET (12:51 GMT)