German aviation giant Lufthansa warned Friday it faces heightened “uncertainty” due to the unfolding conflict in the Middle East, which has closed airspace across the region and roiled energy markets, reports Reuters.

“Developments in the Middle East and the associated geopolitical consequences for the global economy increase the medium- and long-term forecast uncertainty,” the group said as it outlined its 2026 outlook.

“Disruptions to supply chains in the Strait of Hormuz are leading to increased volatility in the oil markets.”