Travel stocks bounce back as Iran seeks ceasefire

Travel-related stocks are bouncing back on Monday as efforts by Iran to de-escalate tensions with Israel is helping the sector breathe a sigh of relief.

Airline stocks are outperforming with gains of as much as 5% with recent overtures by Iran not only removing the event risk from the sector but reversing Friday’s spike in oil prices.

Cruise, hotel, casino, and travel platforms are also getting a boost Monday, driving shares of Royal Caribbean (NYSE:RCL) and Booking.com (NASDAQ:BKNG) into the green for the first time in six days.

After 4 days of bombing by both sides that has inflicted heavy damage on Iran’s military infrastructure, the regime has reportedly reached out to its Arab neighbors to mediate a ceasefire with Tel Aviv. On Sunday, Iranian foreign minister Abbas Aragchi expressed his country’s willingness to return to nuclear talks with the U.S.

Aragchi told foreign diplomats in Tehran that the country “does not seek to expand its conflict with Israel into neighboring regions unless provoked,” and claimed Iran was ready to present a proposal when it met with negotiators on Sunday before the Israel strike on Friday made that untenable.

Related Tickers: Delta Air Lines (NYSE:DAL), United Airlines (NASDAQ:UAL), American Airlines (NASDAQ:AAL), Carnival Corp (CCL), Norwegian Cruise Lines (NCLH), Viking Holdings (VIK), Expedia (EXPE), Tripadvisor (TRIP), Airbnb (ABNB), Travelzoo (TZOO), Hilton Hotels (HLT), Hyatt Hotels (H), Choice Hotels (CHH), Wyndham Hotels & Resorts (WH), InterContinental Hotels (IHG), Marriott International (MAR), Wynn Resorts (WYNN), Caesars Entertainment (CZR), Melco Resorts (MLCO), Las Vegas Sands (LVS), MGM Resorts (MGM), U.S. Global Jets ETF (JETS), Travel & Vacation ETF (OOTO).

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