Delta Air Lines (DAL) stock surged 5.02% in Monday's trading session, outperforming the market as tensions in the Middle East led to widespread flight cancellations for many international carriers. The airline industry is facing significant disruptions following Israel's strikes against Iran, with numerous airlines suspending flights to various Middle Eastern destinations.

While many European and Middle Eastern airlines have announced extensive flight cancellations through June and even into July, Delta Air Lines appears to be less impacted. According to the latest reports, Delta has stated that travel to, from, or through Tel Aviv may be affected between June 12 and August 31. This longer window and less definitive cancellation policy suggest that Delta might be in a position to capitalize on reduced competition on certain routes.

Investors seem to be betting that U.S. carriers like Delta could benefit from the situation, potentially gaining market share or seeing increased demand for their services as alternatives to cancelled flights. The airline's stock performance today indicates that the market views Delta's position in the current geopolitical climate as relatively strong compared to its international counterparts. However, the situation remains fluid, and further developments in the Middle East could continue to impact the airline industry in the coming weeks.