Business News • MarketWire • Is the Airline Industry Still Flying in an Ash Cloud? |
Is the Airline Industry Still Flying in an Ash Cloud? |
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Is the Airline Industry Still Flying in an Ash Cloud?
JOHANNESBURG, SOUTH AFRICA--(Marketwire - April 22, 2010) - www.rothmanresearch.com -- When an Icelandic dormant volcano, dormant for 200 years, erupted near Eyjafjallajoekull (this is the actual name, not a typo) glacier, the chimney of ash that blew out did not just impact locally, but it literally clouded the European skies. For at least six days, since last week's flight ban in Europe, thousands of flights and millions of passengers were left stranded on European soil. According to the International Air Transport Association (IATA), airlines could have contracted a loss of about $1.7 billion for those six days alone. The U.S. Travel Association, on its part, estimated a loss of $650 million to the U.S. economy as a result of the flight cancellations between the U.S. and Europe. Whilst flights resumed on Wednesday from and to Europe, another dark cloud seemed to be hovering over the airline industry in the U.S. This time it was n
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