Airlines Cut 2026 Profit Forecasts as Iran War Fuel Shock Deepens
📉 MARKETS — The war's economic bleeding just reached every airline's annual report. 📌 LOOK CLOSER: Embraer flagged order freezes yesterday — today the sector reprices 2026 earnings. Brent at $95 with Hormuz shut makes fuel cost modeling impossible beyond one quarter. Slashed forecasts trigger equity selloffs, debt covenant reviews, and route suspensions. European carriers with Middle East exposure are most exposed. This is the war's cost becoming permanent in corporate accounting.