The economic damage that the volcanic eruption in Iceland brought is according to the international trade association for air IATA higher than the estimated impact of the terrorist attacks on September 11, 2001 in New York.
According to IATA airlines run every day at least 200 million U.S. dollars in lost revenues. Giovanni Bisignani (IATA chairman) thinks that even this estimate is on the conservative side.
In total, this amount could increase to 250 or even 300 million U.S. dollars per day. The fees that airlines must pay passengers and the fuel for the movement of aircrafts is still disregarded.
The European Commission want to help airlines that are in distress, caused by the ash cloud.
The EU will probably start drafting rules which allows Member States to provide emergency financial assistance to airlines. This should allow EU countries to quickly get approval for giving financial assistance.
The damage and resulting from Schiphol airport to fly by the volcanic eruption in Iceland is 2 to 3 million per day, according to operations manager Ad Rutten of Schiphol Airport. He said this in the Dutch news program “Goedemorgen Nederland”.
KLM airline estimates that the company suffers a loss of 5 to 10 million per day caused by the ash cloud.
TUI Travel, the largest tour operator in Europe has so far a cost of 20 million pounds (22.6 million).
The disruption of the airline Air France daily cost 35 million euros. British Airways calculates the damage 15 to 20 million pounds sterling (17 to 23 million) per day.