Moscow • Shares in European airlines fell Tuesday on a report that Russia is considering cutting off the country's airspace for European flights to Asia, a move that would force costly detours.
A report published by the Russian business daily Vedomosti quotes anonymous Russian officials as saying this would be a response to the sanctions the EU imposed on Moscow.
The officials say the idea of limiting or cutting off the airspace is being discussed but no formal decision has been made, according to Vedomosti, a respected newspaper.
Shares in Finnair, which operates a lot of flights from Northern Europe to Asia, slumped 5.6 percent. Air France-KLM fell 3.8 percent while IAG, the owner of British Airways, saw a 2.9 percent drop.