Israeli Airline Stocks Soar After Dramatic Mid-Air Incident

The dramatic events aboard a Flydubai flight from the UAE to Ben Gurion Airport have had a notable impact on the stock market, with shares of Israeli airlines experiencing significant gains in the hours following the aircraft's emergency landing in Saudi Arabia. El Al's stock price surged by 7.82 percent, while Israir's stock jumped 6.72 percent. Arkia, another Israeli airline, is not publicly traded.

The surge in stock value for the Israeli carriers is directly linked to the incident on the Flydubai flight. The plane made an emergency landing in Saudi Arabia after the co-pilot allegedly attacked the pilot-in-command and attempted to crash the aircraft. Initial investigations suggest the co-pilot may have been attempting suicide and to take the plane down with him. Israeli authorities are considering the possibility that the incident was an act of terrorism.

Reports indicate the co-pilot repeatedly stabbed the captain. Crew members and passengers managed to breach the cockpit door and subdue the assailant once the attack began.