The airline facing a double-whammy after Trump's bunker busting
And sometimes, travellers will even postpone during periods of increased risk.
Virgin is an overwhelming domestic airline, but it did introduce one international route from Australia to Doha two weeks ago. Any disruption of this route won't have much (if any) impact on Virgin's profit numbers this year but an elevated oil price, even in the short to medium term, will.
Shares in Virgin's domestic competitor Qantas were down more than 2.7 per cent on Monday morning in what was a clear response to the US's escalation of the Middle East war over the weekend.
It isn't just airline stocks that feel the effects of geopolitical tension: stock and bond markets also respond negatively to risk.
Australia's market is the first major market to open since the bunker-busting bombs were dropped on Sunday (our time) and as such, we are a bit of a taste-tester for how larger markets will react.
The ASX 200 was off by around 0.8 per cent – a response that realistically could have been far worse. The index is still sitting not too far off the record high it hit a few weeks ago.
Other than airline stocks that are considered at the riskier end of the spectrum, sectors such as technology were disproportionately hit, but nothing calamitous.
Our largest oil and gas company, Woodside, started the day strongly but it was trading flat by early afternoon.
If this pretty muted response is mirrored in the US and European markets, it suggests that investors are largely taking events in their stride.
Short of a serious escalation, the markets seem happy for now to assume that the worst is over.
At the time of writing, US S&P futures were down 0.3 per cent, well within the parameters of normal daily volatility.
Oil prices have certainly risen over the past 36 hours but fears that the price of crude could skyrocket have not been realised – at least not yet. And the price of gold initially bounced, but it has now re-entered the atmosphere.
Short of a serious escalation, the markets seem happy for now to assume the worst is over.
Whether this is true largely depends on whether oil shipping lines are affected, which depends on the response from Iran – whether it has the stomach, or even the capacity, to retaliate.
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There are also question marks over the extent of the damage from the US attack on Iran's nuclear installations. Trump said the sites had been obliterated, but independent agencies have not confirmed this.
There are, as always, plenty of political and market analysts issuing worst-case scenario warnings about the collapse of markets, or the potential for gold and oil prices to surge into the stratosphere.
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