Rising oil prices send Asian airline stocks into tailspin

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HONG KONG – Airline stocks tumbled across the region on Tuesday as turmoil in the Middle East lifted crude oil prices.

Korean Air Line Co Ltd led losers, dropping more than 9 percent.

Hong Kong’s dominant airline Cathay Pacific Airways Ltd falling more than 4 percent to a six-month low and Chinese flag carrier Air China Ltd was also hit, plunging 6.5 percent.

Taiwan’s China Airlines fell 6.25 percent and rival Eva Airways fell 7 percent, pulling the transport sub index down 4.3 percent. Transport stocks led declines on the Taiwan bourse