Volcanic eruption in Iceland: airlines’ losses are increasing

Airlines continue to suffer from great financial losses

In brief: Airlines' losses increased to $300 million a day.

The International Air Transport Association strongly criticizes the heads of European governments for their inability to solve the situation with transatlantic air communication after the volcanic eruption in Iceland. The head of the IATA Giovanni Bisignani is displeased with the actions of the European Ministers of Transportation, saying that it is unbelievable that they appointed teleconference only on fifth day after the beginning of eruption.

While the ministers are trying to overcome crisis in air communication, airlines continue to suffer from great financial losses. They seem to increase every day – at first airlines were losing approximately $200 million each day because of the cancelled flights and now this numbers grew to $300 million a day. Some of the companies are asking for the financial compensation from the government and, apparently, are going to receive it. European Commissioner for Transport Siim Kallas has announced this Monday that the EU is ready to give urgent financial aid to the airlines, suffering great losses because of the cancelled flights.

Olga Bespalova
2010-04-19 18:42, Society.

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