Tightly held Virgin Australia appears unmoved by the damage, while regional carrier Rex has lost 1.6% of market cap.
Airlines are typically hit when economic conditions cool, but with solid fundamentals in Australia and New Zealand, the impact should not be sustained - unless Wall Street continues its slide.
Overall the market is down a little over 2%, mid-morning.
Qantas Airways
Source: ASX
Air New Zealand
Source: ASX
Virgin Australia
Source: ASX
Regional Express
Source: ASX