BREAKING NEWS

Airlines to stop Iran flights as currency crisis bites

By JPOST.COM STAFF

OCTOBER 8, 2012 19:07

Foreign airlines, including Malaysia's AirAsia and Britain's BMI, plan to cease flying to Iran due to the Islamic Republic's growing economic crisis, AFP reported Monday.

According to the report, AirAsia on Sunday will suspending its four flights per week between Kuala Lumpur and Tehran due to what it described as the "volatility of the Iranian currency," whereas BMI will halt its flights as of Saturday after its takeover by British Airways.

Sources in Iran told AFP that Georgian Airways was also considering halting its flights to Tehran.

Some major Western airlines continue to fly to Iran, including Germany's Lufthansa, Austrian Airlines, the Netherlands' KLM and Italy's Alitalia.

Iran's economy has been hard-hit by Western sanctions; the Iranian rial has lost nearly 40 percent of its value in the past week.

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