Airlines' stocks continued their downward trend as risks in the sector persisted. IAG's (LON: ICAG) stock price dropped to a low of 140p, the lowest point since March 2023, approaching bear market territory with a decline of over 17% from this year's peak.

IAG, closely monitored due to its size and operations managing British Airways, as well as other smaller airlines like Iberia, Aer Lingus, Iberia Express, LEVEL, and Vueling.

EasyJet's (LON: EZJ) stock price fell to 365p, the lowest level since January, already in a bear market down over 30% from this year's peak.

Wizz Air's (LON: WIZZ) stock performed worse than other London-listed airlines, dropping to 1,572p, the lowest since last November. Well-known airlines like Lufthansa (ETR: LHAG) and Ryanair (LON: RYA) also declined.

Two main factors contributed to the airline stocks' decline. First, the jet fuel price surged as the Israel-Hamas conflict continued, with Brent hitting $91.77 and West Texas Intermediate (WTI) rising to $87.35.

IATA data showed the average jet fuel price at $121 per barrel, likely to increase further if Brent crosses $100, as anticipated by many analysts.

Jet fuel is a significant cost for all airlines, affecting profit margins. United Airlines reported a net profit of $942 million for the last quarter, with revenues at $14.48 billion, but it warned that rising jet fuel prices would impact profitability. Other airlines like Delta and EasyJet have also issued fuel price warnings.

The other risk is increasing industry wages, with British Airways preparing for pay increases to avoid an imminent strike. All of these costs are likely to squeeze airlines' profit margins, and conflicts in Europe and the Middle East will impact airlines' demand."

This summary provides a condensed version of the original text.