Travel stocks sink after thousands of flights take off

Airline and travel stocks fell on Monday after airspace closures across the Middle East disrupted travel as far away as Brazil and the Philippines, forcing carriers to cancel thousands of flights. Oil prices also rose, raising the biggest cost for airlines after labor.

United AirlinesIt has the most international exposure of the US carriers, down 6% in premarket business. Service to Tel Aviv, Israel, one of the airline’s most profitable routes, was halted, while airlines were forced to pause flights to Dubai, United Arab Emirates, one of the world’s busiest airport hubs. Dubai is home to the airline Emirates.

shares Delta Air Lines And American Airlines Each is down about 6%. Flights were grounded across the Middle East, including to places like Tel Aviv.

Another 1,560 flights were canceled in the Middle East on Monday, according to aviation data firm Cerium.

As are other carriers Southwest AirlinesIt was more US-focused, with smaller stock moves, but shares still fell as investors judged a run-up in oil prices.

Hotel chains also fell Marriott International And Hilton Worldwide Holdings below. And shares of cruise lines were down Royal Caribbean Cruises The stock is down 6% and Carnival Corp There is a decrease of 7%.

Norwegian Cruise Line HoldingsThe stock fell 7% in premarket trading after it said on an earnings call on Monday that its fuel costs will account for 51% this year and 27% next year.

International travel is a bright spot in the travel sector. In January, demand for international air travel jumped 5.9% from a year earlier but demand for domestic flights was almost flat, the International Air Transport Association, an airline industry group, said in a report on Monday.

– CNBC Contessa Brewer contributed to this report.