asian airline stocks slumped thursday as crude prices soared after russia launched military attacks on ukraine with higher energy prices set to weigh on their profits while the pandemic situation remains uncertain many airline shares were sold off sharply amid broad declines in regional markets as investors rush to safety pushed down equities japan airlines co closed 62 lower and south koreas asiana airlines inc lost 46 in hong kong chinas three major carriers air china ltd china southern airlines co and china eastern airlines corp retreated 3038 singapore airlines ltd which is due to release its quarterly results later today was last down 68 to its lowest level since december airline stocks mostly underperformed benchmark indexes the nikkei stock average fell 18 the kospi shed 26 the hang seng index closed 32 lower and the ftse straits times index was last down 35 frontmonth futures for brent crude jumped more than 6 during asian trading hours to as high as 10355 a barrel crossing the 100 a barrel mark for the first time since 2014 airlines recovery prospects have been weighed by the fastspreading omicron variant which has delayed border reopening plans analysts have cited higher oil and jet fuel prices as a key nearterm headwind for airlines profitability due to the potential increase in operating costs and weaker profit margins