TRAVEL shares tumbled yesterday, shedding $22.6 billion as escalating conflict between the US, Israel and Iran disrupted flights worldwide, closed key Middle Eastern hubs and sent oil prices surging, with analysts warning of weeks of disruption.

Data showed at least 4,000 flights had been cancelled around the world in the past three days.

Dubai, the world’s busiest international hub, and Doha remained shut for a third day, leaving tens of thousands of passengers stranded as aviation faced its biggest test since the Covid-19 pandemic. Jordan yesterday became the latest country in the region to partially close its airspace.

Oil prices jumped as much as 13 per cent to their highest since January 2025 as Iran and Israel stepped up…