Icelandic Volcano Crisis

The Icelandic volcano crisis cost airlines more than USD 1.7 B in lost revenue through Tuesday—six days after the initial eruption, according to estimates of the International Air Transport Association (IATA). For a three-day period (17-19 April), when disruptions were greatest, lost revenues reached USD 400 M per day.
Following 9/11, the US government provided USD 5 B to compensate airlines for the costs of grounding the fleet for three days. The European Commission also allowed European states to provide similar assistance.
No one was prepared for such an event. Isn't it funny how we take things for granted?


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