European airline shares jumped 8.9%‑13.6% on Wednesday after oil prices fell 13%‑15% following US‑Iran de‑escalation.
Ryanair, IAG, Lufthansa and Air France‑KLM led the rally as jet fuel cost pressures eased sharply.
Brent and US crude futures dropped about 13.2%‑14.8% by 03:44 ET, after President Trump suspended planned strikes for two weeks.
The Strait of Hormuz, handling ~20% of global oil consumption, saw reduced disruption risk, prompting market repricing.