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See what we told you about flying | Intractable Industries

No other industry could lose t$1 b in 3 days except Oil, Aviation and Movies…

The smog crisis

MARKETWATCH.COM GraphicIf you wanted to catch a flight you would have been on the road most of the weekend after picking fare / cab / shared vehicle rides from Twitter and Facebook..

The shutdown of much of Europe’s airspace looked set to last into Monday as ash from an Icelandic volcano continued to spew into the atmosphere Sunday, even as some isolated airports, such as those in Frankfurt, Berlin and Warsaw, cleared the way for a handful of flights heading east or north. But with millions of passengers stranded at airports across the globe, airline industry leaders were openly bristling at the restrictions that have already cost them nearly $1 billion in revenue worldwide.

“While safety remains a non-negotiable priority, it is not incompatible with our legitimate request to reconsider the present restrictions,” Olivier Jankovec, director general of ACI Europe, which represents 400 European airports in 46 countries, said in a statement.

Britain’s National Air Traffic Services extended its ban on flights across its airspace until at least 6 a.m. local time Monday, prompting the country’s flag carrier, British Airways, to cancel all of its Monday flights. Air France canceled flights to Paris flights through 8 a.m. Monday, while Ryanair extended cancellations across most of its network until Wednesday afternoon. Across the globe, Cathay Pacific of Hong Kong, Qantas of Australia and China Airlines in Taiwan also canceled Europe-bound flights into Monday and beyond.

Eurocontrol, the Brussels-based agency that coordinates air traffic management across the region, said it expected 20,000 — more than 80 percent — of the 24,000 flights normally scheduled would be canceled Sunday

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This entry was posted on April 19, 2010 by in Global, Private Equity, Retail Lifestyle, US and tagged , , , , , .


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